Competition in the direct medical insurance market is hotting up with the launch of Inspop.com. The ...
Competition in the direct medical insurance market is hotting up with the launch of Inspop.com.
The service launches on 1 July and will provide consumers with independent on-the-spot quote comparisons from insurance companies. Inspop.com will offer quotes from UK insurers including Norwich Union, Royal & SunAlliance, CGU and Prudential.
Consumers input their details once on the Inspop.com site to receive a range of quotes from member companies, enabling faster comparisons and purchasing decisions to be made.
The site does not charge a commission to insurers, who pay a nominal flat fee per quote submitted through the site.
Inspop.com will also offer insurers information on trends and movements in the health insurance market from data collated through the site.
Sara Murray, managing director at Inspop.co, said: "It has been over a decade since the introduction of direct writers and consumers are well overdue another revolution in the way they buy insurance. Inspop.com speeds up and simplifies the process of getting quotes, comparing them and purchasing policies. For the insurance market we deliver a new channel complementary to their own direct offerings."
Mark Garratt, customer relationship manager, UK personal financial services at Royal & SunAlliance, said the site was creating a market place for insurance providers to present their products in front of an extended audience.
He added: "These are consumers we might not necessarily attract through our own marketing activities and, as such, they represent additional cost-effective sales opportunities. Not only will Inspop.com speed up the direct sales process and help maximise profits, but it will also enable us to screen customers prior to sales being finalised. We expect considerable pull-through from the site and see this as being complementary to our own online offering."
Inspop.com is being supported by a £5m marketing campaign that includes television and radio advertising, as well as national and regional press ads.
