Internet Investor: Direct route for your insurance

Buying instant

insurance over

the Internet

offers clear

benefits.

There are fewer

forms to fill in

and the details

are accurate

since e-commerce

means there is

no rekeying

of the data

FIRST DIRECT believes there will be an explosion in our use of computers to manage our money over the next decade. According to Mori research conducted for the bank, within 10 years more than a third of all current account holders in the UK, nearly 12 million people, expect to use the Internet or similar technology to arrange their finances.

To put that forecast in perspective, fewer than one per cent do so at the moment. The survey also showed that 13 per cent of current account holders already have access to the Internet, up from 5 per cent in 1996. First Direct's own PC Banking service does not operate over the Internet but instead uses its own private network.

Separately, Eagle Star Direct reckons that sales of "cyber insurance" - insurance cover bought over the Internet - will increase by 260 per cent over the next 18 months. This sounds far too exact a forecast to be taken seriously. However, it has to be said that, with the number of Internet connections steadily rising, Eagle Star Direct is surely correct in assuming some significant increase in such business.

It is on this basis that the company has extended the range of insurance it offers on the World Wide Web to include home and contents cover, adding to its existing motor and travel insurance websites. In fact, Eagle Star Direct's motor insurance site has received more than 100,000 request for quotations in its first 10 months.

As with the other sites, you may purchase home and contents cover directly and immediately, 24 hours a day, through payment by credit or debit card, completing the online application form. The site is interactive, allowing you to select your own preferred level of cover.

Demonstrating why Eagle Star Direct expects more business on the Internet, the company is offering anybody purchasing their home and contents insurance from the site a 10 per cent reduction in its standard premiums. A further discount of up to 10 per cent is on offer if your home passes certain security criteria. Full details of these are available on the site.

However, Eagle Star Direct was not the first to offer household insurance over the Internet. Earlier this year, Woolwich Insurance Services unveiled an online market search, select and buying system. The service provides real-time comparative household insurance quotations, as well as allowing you to buy a suitable policy on the spot.

Woolwich Insurance Services claims that its online service allows you select the best policy for your particular requirements, rather than simply providing a price-based comparison. In fact, the service is exactly the same as that on offer in certain Woolwich branches.

Providing you are satisfied with their Internet quotation, the policy can be arranged by paying for the initial premium through an online credit card transaction. If, however, you need personal assistance before you make your choice, there is an option to be connected to a trained advisor to assist you during the course of the search and transaction process.

Buying insurance direct over the Internet offers clear benefits to you as a consumer. Fewer forms need to be filled out by the customer and in turn, the e-commerce nature of the system ensures accuracy as well as speed, since information will no longer need to be filled in by hand and rekeyed by data entry staff.

There is, of course, a concomitant downside to this. If there is a mistake in your policy details, you cannot blame anyone else!

Eagle Star Direct: www.eaglestardirect.co.uk

Woolwich Insurance Services: www.woolwichinsurance.co.ukFirst Direct PC Banking Demo: www.firstdirect.co.uk

News
people
News
people
Arts and Entertainment
Keys to success: Andrew and Julian Lloyd Webber
arts + entsMrs Bach had too many kids to write the great man's music, says Julian Lloyd Webber
Voices
Left: An illustration of the original Jim Crowe, played by TD Rice Right: A Couple dressed as Ray and Janay Rice
voices

By performing as African Americans or Indians, white people get to play act a kind of 'imaginary liberation', writes Michael Mark Cohen

PROMOTED VIDEO
News
i100
Arts and Entertainment
Hand out press photograph/film still from the movie Mad Max Fury Road (Downloaded from the Warner Bro's media site/Jasin Boland/© 2014 Warner Bros. Entertainment Inc.)
films'You have to try everything and it’s all a process of elimination, but ultimately you find your path'
Arts and Entertainment
Imelda Staunton as Dolores Umbridge in the Harry Potter films
books

New essay by JK Rowling went live on Pottermore site this morning

News
Russia Today’s new UK channel began broadcasting yesterday. Discussions so far have included why Britons see Russia as ‘the bad guy’
news

New UK station Russia Today gives a very bizarre view of Britain

News
people

Top Gear presenter is no stranger to foot-in-mouth controversy

Arts and Entertainment
Keira Knightley and Benedict Cumberbatch at the premiere of The Imitation Game at the BFI London Film Festival
filmsKeira Knightley tried to miss The Imitation Game premiere to watch Bake Off
News
ebooksAn unforgettable anthology of contemporary reportage
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

The benefits of Recruitment at SThree...

£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...

Trainee Recruitment Consultants

£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...

Finance Assistant - Part time - 9 month FTC

£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...

Marketing Manager

£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...

Day In a Page

The drugs revolution starts now as MPs agree its high time for change

The drugs revolution starts now as MPs agree its high time for change

Commons debate highlights growing cross-party consensus on softening UK drugs legislation, unchanged for 43 years
The camera is turned on tabloid editors in Richard Peppiatt's 'One Rogue Reporter'

Gotcha! The camera is turned on tabloid editors

Hugh Grant says Richard Peppiatt's 'One Rogue Reporter' documentary will highlight issues raised by Leveson
Fall of the Berlin Wall: It was thanks to Mikhail Gorbachev that this symbol of division fell

Fall of the Berlin Wall

It was thanks to Gorbachev that this symbol of division fell
Halloween 2014: What makes Ouija boards, demon dolls, and evil clowns so frightening?

What makes ouija boards and demon dolls scary?

Ouija boards, demon dolls, evil children and clowns are all classic tropes of horror, and this year’s Halloween releases feature them all. What makes them so frightening, decade after decade?
A safari in modern Britain: Rose Rouse reveals how her four-year tour of Harlesden taught her as much about the UK as it did about NW10

Rose Rouse's safari in modern Britain

Rouse decided to walk and talk with as many different people as possible in her neighbourhood of Harlesden and her experiences have been published in a new book
Welcome to my world of no smell and odd tastes: How a bike accident left one woman living with unwanted food mash-ups

'My world of no smell and odd tastes'

A head injury from a bicycle accident had the surprising effect of robbing Nell Frizzell of two of her senses

Matt Parker is proud of his square roots

The "stand-up mathematician" is using comedy nights to preach maths to big audiences
Paul Scholes column: Beating Manchester City is vital part of life at Manchester United. This is first major test for Luke Shaw, Angel Di Maria and Radamel Falcao – it’s not a game to lose

Paul Scholes column

Beating City is vital part of life at United. This is first major test for Shaw, Di Maria and Falcao – it’s not a game to lose
Frank Warren: Call me an old git, but I just can't see that there's a place for women’s boxing

Frank Warren column

Call me an old git, but I just can't see that there's a place for women’s boxing
Adrian Heath interview: Former Everton striker prepares his Orlando City side for the MLS - and having Kaka in the dressing room

Adrian Heath's American dream...

Former Everton striker prepares his Orlando City side for the MLS - and having Kaka in the dressing room
Simon Hart: Manchester City will rise again but they need to change their attitude

Manchester City will rise again but they need to change their attitude

Manuel Pellegrini’s side are too good to fail and derby allows them to start again, says Simon Hart
Isis in Syria: A general reveals the lack of communication with the US - and his country's awkward relationship with their allies-by-default

A Syrian general speaks

A senior officer of Bashar al-Assad’s regime talks to Robert Fisk about his army’s brutal struggle with Isis, in a dirty war whose challenges include widespread atrocities
‘A bit of a shock...’ Cambridge economist with Glasgow roots becomes Zambia’s acting President

‘A bit of a shock...’ Economist with Glasgow roots becomes Zambia’s acting President

Guy Scott's predecessor, Michael Sata, died in a London hospital this week after a lengthy illness
Fall of the Berlin Wall: History catches up with Erich Honecker - the East German leader who praised the Iron Curtain and claimed it prevented a Third World War

Fall of the Berlin Wall

History catches up with Erich Honecker - the East German leader who praised the Iron Curtain and claimed it prevented a Third World War
How to turn your mobile phone into easy money

Turn your mobile phone into easy money

There are 90 million unused mobiles in the UK, which would be worth £7bn if we cashed them in, says David Crookes