Matterhorn Financial Services was acquired in mid-2000, and brought to BancInsure
its expertise in designing and administering insurance solutions for exposures related
to a financial institution's lending activities. Matterhorn produced nearly $9 million
of premium for BancInsure in 2004 through its client base of more than 600 financial
institutions.
Matterhorn is a managing general agent and is responsible for the Company's lender-related
insurance products. Matterhorn serves as a Managing General Agent for the products
of other insurers as well. This latter role allows income to be generated through
the writing of products for which BancInsure has no underwriting appetite or is
not yet admitted in the state.
Matterhorn primarily markets its products through its national network of over 150
independent agents and the employee sales representatives of BMSI Marketing, Inc.
In addition, Matterhorn has a number of direct client relationships with lenders
located in areas in which Matterhorn has no local agent, and with large lenders
who prefer to deal directly with the insurer's underwriting arm.
Matterhorn was formed in 1972, and is staffed by a knowledgeable and experienced
group of employees. Nearly half of Matterhorn's staff are licensed agents, and several
have held senior management positions in the financial services industry, specializing
in lending and lender-related insurance. These qualifications bring expertise, continuity,
dependability and trust to Matterhorn's prospects and clients, all of which are
essential to building lasting relationships.
Matterhorn Financial Products