Online Motor Insurance Soon a Common Way to Insure

But the best point of it is the so called ‘Rabattretter‘, a ‘reduction rescuer‘: That means that at Ineas, a notified claim need not necessarily lead to an increase of the premium. The amount of the premium depends rather on the period of time the clients had driven their cars without any claims before the current accident. It is true that clients, for example, who have reached no-claims bonus (SF 30) yet, will be downgraded, but their premium of 30 per cent will not be increased. This customer friendly system is also effective in the motor full insurance. Even after having caused an accident in the SF30 class, the insured who caused the accident continues to pay not more than 28 per cent. Thus, Ineas spares their clients an increase of the premium until a further claim in the future.

And there are even more specialities included in the motor insurance: Compared to conventional insurers, Ineas offers a motor liability for bodily injury that covers up to 15 mil. DM instead of the 12.5 mil. DM common at other insurers. Motor partial coverage insurance covers even damage caused by marten bites, which in the meantime are quite common even in big cities. And the aggravating surcharge in the form of an excess in case of a glass break does not apply if the client has the car repaired at an Ineas partner.

To conclude a contract, the client is guided safely through the web site by a dialogue programme, which is structured in a most comfortable and simple way. First, the users can arrange their quote individually geared to their type of automobile and file it in their PrivateDomain. There is no need to decide immediately whether to conclude or not, since the data remain stored for 30 days. This provides the possibility to compare the Ineas quote with proposals of other insurers. The contract is concluded by filling in a proposal form on the screen and send the form online to Ineas. Then, the insurance protection comes immediately into force, which is a further advantage.

In future, the relevant documents such as insurance policy, terms and conditions, ‘Doppelkarte‘ and premium calculation are stored in the user’s PrivateDomain. But still these documents are sent by mail additionally. The ‘Doppelkarte‘ can be printed out on paper so that the clients are able to register their cars immediately.

The number of users taking advantage of online services is increasing, Wolfgang Franke, member of the board of director, explains. For this kind of users we have designed our product as simple and clear as possible. After all, these clients expect many advantages from the distribution channel internet. Shortest ways, anytime and anywhere to reach, information geared to the individual case, service, and, in particular, interactivity.

Ineas Insurance Company N.V. is one of the first insurers in Europe to use the internet exclusively as a distribution channel. In October,1999, the online

insurer based in Amsterdam started to provide their services in the Netherlands. Since February this year, Belgian internet users have the opportunity to insure online. Since March this year, the German internet surfer as well can insure via internet. And in France, the motor insurance was launched as early as last summer this year. Later on, Ineas is going to expand their online activities to other European countries as well. Niek Ligtelijn from the Netherlands established Ineas in 1998, and leading companies of the international financing sector had a share in it. In addition to sound expert’s reports, these shares grant a solid financial basis, Today, Ineas‘ product range includes motor insurance, personal liability insurance, accident insurance, insurance on contents, and insurance on building and contents.