An independent broker has launched an online motor search engine with a panel of more than 300 insurers and schemes in the UK.
Motor broker 4 Insurance has created www.motorinsurancesupermarket.com, a fully transactional website that allows customers to search and buy policies online from companies such as Zurich, Norwich Union, NIG and Churchill.
Wayne Lee, director of 4 Insurance and creator of the search engine, said the offering was unique: â€œThe sole purpose of this new product is to find the most competitive and best quality insurance policy to meet customersâ€™ needs.
â€œWe will be one of the UKâ€™s largest insurer comparison sites, with online and handling capabilities that are completely controlled and totally transparent.â€
Insurers have full online access to upload, change and remove policies. â€œFor example, if an insurer wanted to add changes to its young driver policy, it can externally upload the new rates on the server at its convenience,â€ Mr Lee explained.
The online product will offer individual schemes â€“ such as female motor and convicted driversâ€™ insurance â€“ and give tips on how to get the cheapest car insurance during the quotation process.
Each specific scheme is pre-programmed into the quote system, and sent to the insurer that offers the individual scheme.
â€œWe are the first insurance company to offer flexible online payments for customers,â€ added Mr Lee. â€œOnce they have taken out the policy, customers can log onto the administration page and modify the payment days by up to 30 days. Also, we have included a unique breakdown cover with RAC. Normally, the cover would cost Â£140 but we have negotiated
a price of Â£69 for full breakdown cover anywhere in Europe.â€
The site provides links for legal cover, and information about the Driver and Vehicle Licensing Agency and the Pass-Plus scheme to reduce premiums. It also gives customers the opportunity to claim online.
Mr Lee added that the product was set-up solely for motor insurance: â€œAt the moment, there are no plans to cross-sell with other products. The aim of the new offering is to make it easier for customers to gain a motor quote. The website is simple to navigate and will offer competitive quotes for any motor scheme.â€
Motorinsurancesupermarket.com is due to launch a television advertising campaign in the middle of June.