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Smartfinancial Inc's Business Segments
Smartfinancial Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2025
Reportable Segments
1
Largest Segment
General Banking Unit
Total Revenue
$ 47
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2025
- General Banking Unit306.6%
Revenue by Reportable Segment - Q2 FY2025
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| General Banking Unit | $ 152 | 306.6% |
Description of Smartfinancial Inc
The primary activity of SmartFinancial currently is, and is expected to remain
for the foreseeable future, the ownership and operation of SmartBank. As a bank
holding company, SmartFinancial intends to facilitate SmartBank’s ability
to serve its customers’ requirements for financial services. The holding
company structure also provides flexibility for expansion through the possible
acquisition of other financial institutions and the provision of additional banking-related
services, as well as certain non-banking services, which a traditional commercial
bank may not provide under present laws.
SmartFinancial Inc. is a technology-driven insurance agency that specializes in providing customers with a wide range of insurance solutions. The company operates primarily in the online market, connecting consumers with a variety of insurance providers. Here’s a detailed breakdown of the segments, products, and services offered by SmartFinancial Inc.
Segments
1. Insurance Products
- Auto Insurance: This segment includes a variety of car insurance options, such as liability coverage, comprehensive, collision, personal injury protection, and uninsured/underinsured motorist coverage.
- Homeowners Insurance: SmartFinancial provides coverage options for homeowners, offering protection against damages to the home and personal property, as well as liability coverage for accidents that may occur on the property.
- Renters Insurance: For those who rent properties, this segment offers protection for personal belongings within the rented space and liability coverage in case of accidents.
- Life Insurance: Options include term life, whole life, and universal life insurance policies, catering to customers varying needs in providing financial security for their loved ones.
- Health Insurance: This segment offers different health plans, including individual and family health insurance, supplemental health insurance, and critical illness coverage.
- Business Insurance: SmartFinancial also provides tailored insurance solutions for small and medium enterprises, including general liability, workers compensation, and commercial property insurance.
2. Financial Services
- Annuities: SmartFinancial sometimes includes products related to retirement planning, like fixed and variable annuities, which help customers secure a steady income for retirement.
3. Technology and Tools
- Insurance Marketplace: SmartFinancial has developed a user-friendly digital platform where consumers can research and compare multiple insurance providers and policies. This segment plays a crucial role in increasing transparency and helping customers make informed decisions.
- Quote Comparison Tools: These tools enable users to retrieve, compare, and assess quotes from various insurance carriers, ensuring that they find the best coverage at the most competitive prices.
- Mobile Application: The agency offers a mobile app that allows customers to manage their policies, file claims, and access customer service conveniently.
Products
1. Insurance Policies
- Comprehensive Auto Insurance: Covers a broad range of incidents, including theft, fire, vandalism, and accidents not caused by the driver.
- Basic Homeowners Coverage: Protects against common risks such as fire, theft, or damage from a covered peril.
- Umbrella Policies: Provides additional liability coverage beyond standard homeowners or auto insurance policies, offering protection for high-net-worth individuals.
2. Supplemental Options
- Accident Insurance: Pays benefits to the insured for injuries resulting from accidents, helping to cover medical expenses and loss of income.
- Critical Illness Insurance: Provides a lump-sum payment upon diagnosis of certain illnesses, helping alleviate financial burdens during recovery.
Services
1. Consultative Services
- SmartFinancials agents offer personalized advice, helping consumers understand their insurance needs and matching them with appropriate policies based on individual circumstances and budgets.
2. Claims Assistance
- The company provides support in navigating the claims process, ensuring that customers can file claims efficiently and receive their benefits promptly.
3. Policy Management
- Services that allow customers to review and manage their insurance policies through the online platform, including renewal notifications and policy updates.
4. Educational Resources
- SmartFinancial often provides articles, FAQs, and resources designed to educate consumers about insurance types, coverage options, and industry trends to empower them in making better insurance decisions.
5. Customer Support:
- A dedicated customer service team is available to assist with inquiries, policy changes, and claims, ensuring that customers receive help when needed.
In summary, SmartFinancial Inc. offers a comprehensive range of insurance products and services across various segments, leveraging technology to enhance customer experience and engagement. Through their digital platforms and consultative support, they aim to simplify the process of obtaining and managing insurance for their clients while providing a robust selection of coverage options to meet diverse needs.
Segments
1. Insurance Products
- Auto Insurance: This segment includes a variety of car insurance options, such as liability coverage, comprehensive, collision, personal injury protection, and uninsured/underinsured motorist coverage.
- Homeowners Insurance: SmartFinancial provides coverage options for homeowners, offering protection against damages to the home and personal property, as well as liability coverage for accidents that may occur on the property.
- Renters Insurance: For those who rent properties, this segment offers protection for personal belongings within the rented space and liability coverage in case of accidents.
- Life Insurance: Options include term life, whole life, and universal life insurance policies, catering to customers varying needs in providing financial security for their loved ones.
- Health Insurance: This segment offers different health plans, including individual and family health insurance, supplemental health insurance, and critical illness coverage.
- Business Insurance: SmartFinancial also provides tailored insurance solutions for small and medium enterprises, including general liability, workers compensation, and commercial property insurance.
2. Financial Services
- Annuities: SmartFinancial sometimes includes products related to retirement planning, like fixed and variable annuities, which help customers secure a steady income for retirement.
3. Technology and Tools
- Insurance Marketplace: SmartFinancial has developed a user-friendly digital platform where consumers can research and compare multiple insurance providers and policies. This segment plays a crucial role in increasing transparency and helping customers make informed decisions.
- Quote Comparison Tools: These tools enable users to retrieve, compare, and assess quotes from various insurance carriers, ensuring that they find the best coverage at the most competitive prices.
- Mobile Application: The agency offers a mobile app that allows customers to manage their policies, file claims, and access customer service conveniently.
Products
1. Insurance Policies
- Comprehensive Auto Insurance: Covers a broad range of incidents, including theft, fire, vandalism, and accidents not caused by the driver.
- Basic Homeowners Coverage: Protects against common risks such as fire, theft, or damage from a covered peril.
- Umbrella Policies: Provides additional liability coverage beyond standard homeowners or auto insurance policies, offering protection for high-net-worth individuals.
2. Supplemental Options
- Accident Insurance: Pays benefits to the insured for injuries resulting from accidents, helping to cover medical expenses and loss of income.
- Critical Illness Insurance: Provides a lump-sum payment upon diagnosis of certain illnesses, helping alleviate financial burdens during recovery.
Services
1. Consultative Services
- SmartFinancials agents offer personalized advice, helping consumers understand their insurance needs and matching them with appropriate policies based on individual circumstances and budgets.
2. Claims Assistance
- The company provides support in navigating the claims process, ensuring that customers can file claims efficiently and receive their benefits promptly.
3. Policy Management
- Services that allow customers to review and manage their insurance policies through the online platform, including renewal notifications and policy updates.
4. Educational Resources
- SmartFinancial often provides articles, FAQs, and resources designed to educate consumers about insurance types, coverage options, and industry trends to empower them in making better insurance decisions.
5. Customer Support:
- A dedicated customer service team is available to assist with inquiries, policy changes, and claims, ensuring that customers receive help when needed.
In summary, SmartFinancial Inc. offers a comprehensive range of insurance products and services across various segments, leveraging technology to enhance customer experience and engagement. Through their digital platforms and consultative support, they aim to simplify the process of obtaining and managing insurance for their clients while providing a robust selection of coverage options to meet diverse needs.