Financial Keyosk To Go Solo In Spin-off

NU Online News Service, Dec. 18, 2:23 p.m. EST?Financial Keyosk, an Internet provider of financial services for agents seeking personal and small commercial policies, announced it would be spun off from its parent company as an independent concern effective Dec. 31.

The Carpentersville, Ill., service provider said its parent company, Zurich North America, based in Schaumburg, Ill., decided it was time to do the spin-off and concentrate on its core business.

Zurich developed Financial Keyosk to be an alternative distribution system of insurance products, the company said. It was Zurich’s plan to one day spin off the provider, Financial Keyosk said in a statement.

The service provider also announced it was entering into a strategic relationship joint venture with e-Insure Inc., based in Chicago.

Financial details were not disclosed.

Financial Keyosk already has a partnership with Union Planters Bank headquartered in Memphis, Tenn., and plans additional bank relationships in 2003, the service provider said.

The provider’s “Agency In A Box” was the subject of an article in National Underwriter’s Agency Technology On The Cutting Edge monthly supplement [NU, Aug. 19, page 28].