Buying Insurance Online

Aviva recently started by making their motor quotation online, marketing that by removing the middle man, cost can be lowered.

Now, DirectAsia.com, launched its website recently.

DirectAsia.com will offer motor, travel, home and personal accident insurance directly to customers through its website and via the phone. According to the firm, it offers more competitive rates than traditional players by cutting out the middle person, like insurance agents and this could translate to about a 10% cost saving.

Derek Teo, president, General Insurance Association, said: "To do that is going to be a very, very costly investment because to have a successful online insurance distribution, you first of all have to build a very sophisticated technology to be able to service customers and meet customers expectations, especially after sales service and even before that, the quotation stage as well - how fast and how quickly you can react to the needs of the customers."

Well, there is no harm in getting a quotation from them to check if they can indeed provide the lowest quote.