New Jersey Bank Unit Offering Insurance Products Online

HomeCom Communications, a provider of Internet software solutions for the financial services industry, says that Interchange Insurance Agency, a subsidiary of Interchange Bank, is offering online insurance products with InsureRate.

Anthony Abbate, president and chief executive officer of Interchange Financial Services Corporation, the bank's parent, said, ``Becoming a full-service financial provider requires the constant review and restructuring of our existing product line, as well as the design and introduction of new products that will keep pace with changing needs. InsureRate allows us to offer the insurance products that our customers demand via our Web site, without incurring the costly infrastructure needed to process and issue policies.

"HomeCom Insurance Financial Services (HIFS) provides a call center, fully staffed by licensed professional agents, who are trained to handle our customers with the same dedication to customer satisfaction as our branch personnel,'' Abbate continued.

Bill Martina, executive vice president for HIFS, said, ``Interchange Bank has experience in providing insurance through traditional channels and now with InsureRate the bank can offer a whole range of products via the Web. This partnership will provide a `high-tech, high-touch' channel through which branch personnel can cross sell insurance products at a very competitive rate.''

InsureRate offers a range of insurance products from firms such as AIG, Zurich Kemper, Midland and Progressive.

Interchange Financial Services Corporation is the holding company of Interchange Bank, a commercial bank based in Saddle Brook, NJ. Atlanta-based HomeCom is an Internet Application Service Provider (ASP) specializing in Internet applications for the financial services market.