BBVA Compass Insurance Agency and Covr open one-stop digital insurance shop

- BBVA Compass Insurance Agency teams with Covr to offer clients and insurance seekers control over the insurance-buying process

- BBVA Compass Insurance Agency's partnership with Covr aligns with the bank's effort to collaborate with digital providers

March 27, 2017

HOUSTON, March 27, 2017 /PRNewswire/ -- BBVA Compass Insurance Agency, an affiliate of BBVA Compass, has partnered with Boise-based Covr Financial Technologies, a digital personal insurance platform, to offer insurance seekers direct control over the insurance-buying process with turnkey access to quotes and product information from a network of carriers.

As of Mar. 1, clients of BBVA Compass and consumers have one-click access to personal insurance products and resources through BBVA Compass Insurance Agency's online portal powered by Covr. The do-it-yourself interface serves as a digital solution designed to streamline and brighten the overall experience for purchasing insurance.

BBVA Compass Insurance Agency Managing Director of Insurance Analicia Geisen said that BBVA Compass' partnership with Covr aligns with the bank's digital transformation and underscores its effort to collaborate with digital providers to create opportunities for people that give them control over their financial future.

"We're dedicated to creating opportunities for individuals, and this means putting them at the forefront of protecting the people and things that are most important in their life – without interference," said Geisen. "We've teamed with Covr to provide an anytime, anywhere platform where they can receive on-demand information and make their own insurance decisions with no hassle, no downtime, no pressure and, most importantly, no middleman."

Covr aims to disrupt the insurance arena, receiving buy-in from more than fifty of the nation's largest financial institutions, including BBVA Compass. In its third year of simplifying the insurance-buying experience, Covr's digital platform has positioned itself as a technology-driven alternative for purchasing insurance which answers to the call of clients who demand convenience and "say" over their financial planning and decisions.

"BBVA Compass Insurance Agency's online portal powered by Covr is a model for how insurance will be sold to everyone from millennials on up, who want the ease and convenience of buying insurance online," said Covr Founder and Vice Chairman Todd Ruplinger

With the collaboration between BBVA Compass Insurance Agency and Covr, personal insurance seekers can avoid scouring multiple insurance websites, agencies or third-party entities to compare quotes. BBVA Compass Insurance Agency brings a consolidated insurance-buying experience right to the fingertips of consumers through a desktop and mobile supported interface where they can receive insurance information and quotes in minutes from nearly twenty major insurers for products such as life, disability, home, auto and pet insurance.

The insurance platform is backed by education programs, product training and phone support from licensed Covr financial advisors, enabling consumers to gain knowledge and weigh their options prior to making an insurance purchase.

For more information on the BBVA Compass Insurance Agency, click here.

About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The BBVA Group is the largest financial institution in Spain and Mexico, has leading franchises in South America and the Sunbelt region of the United States and is also the leading shareholder in Garanti, Turkey's largest bank based on market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at bbva.com.

About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 674 branches, including 345 in Texas, 89 in Alabama, 75 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (4th). BBVA Compass was recently named Best Digital Bank in North America by global finance magazine Euromoney and the best regional bank in the South & West and best mobile app in Money magazine's 2015-2016 list of the Best Banks in America. To learn more about BBVA Compass, visit www.bbvacompass.com. For more BBVA Compass news, visit newsroom.bbvacompass.com and follow @BBVACompassNews.

About Covr Financial Technologies
As an agent of change in a rapidly evolving industry, Covr is a technology driven alternative that provides a simpler, faster way for people to protect what matters most. Through partnerships with financial institutions and their financial advisors, Covr's digital platform provides a fast, user-friendly way to research, compare, shop for and buy personal insurance from nearly twenty top providers, fully online and within minutes. Offices: Boise, and New York. For more information, see www.covrtech.com.

Editor's Note: 
BBVA Compass is a trade name of Compass Bank. Insurance Products are available through BBVA Compass Insurance Agency, Inc., an affiliate of Compass Bank. Insurance Products are NOT deposits, are NOT FDIC insured, are NOT bank guaranteed, are NOT insured by any federal government agency and may LOSE value.

 

SOURCE BBVA Compass

For further information: Tristan Grimble, External Communications, Tel - 832-544-2531, tristan.grimble@bbva.com, Contact for Covr: Richard L. Stern, Stern & Co., Tel - 212-888-0044, richstern@sternco.com


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