Commonwealth Bank to sell car insurance online

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Building on its strength and versatility in the online world, Commonwealth Bank Group has launched Insure Direct, an insurance service for private motor vehicles.
The new internet-based service allows users, with no obligation, cost or sales pressure to compare and buy comprehensive car insurance online. Users can compare the features of individual insurance policies and obtain competitive quotes in real-time from four of Australia's leading insurance companies: CGU Insurance Limited; Allianz Australia Insurance's DirecDial Insurance; FAI General Insurance Limited and Royal & SunAlliance Insurance Australia Limited.

After finding the most suitable insurance policy from those offered based on features as well as price, qualifying clients also have the choice to pay for their insurance online using a secure credit card payment system, or receive an invoice by mail. In either case, the insurance is effected immediately.
The online application consists of nine questions making Insure Direct one of the fastest ways to compare and buy car insurance in Australia.
The site allows users to obtain up to seven market and agreed value car insurance quotes in a quick, easy, step-by-step process, providing simultaneous quotations. The application process takes five to seven minutes, with users then obtaining firm quotes in less than 15 seconds.
In another Australian first, an independent car insurance star rating system. that will help users to compare policies before buying, has been implemented within Insure Direct. An independent actuary was contracted to develop the star rating system for the features of each policy.
The new service offers competitive rates, and is aimed at people who have good driving records with existing 50 per cent or higher no claim bonus from their current insurance company.
The service is being provided by the Bank's subsidiary Commonwealth Securities, which has executed agency agreements with all participating insurance companies.
The site can be viewed at www.insuredirect.com.au.