Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 19th of August 2018
December 30, 2009

New guidelines for online GI sales

by Gill Montia

Story link: New guidelines for online GI sales

The Association of British Insurers (ABI) has published a Good Practice Guide aimed at insurance comparison websites, insurers and brokers selling general insurance online.

According to the Association, over two-thirds of customers are now using the Internet to arrange their motor insurance alone, and the guidelines should help consumers better identify the right policy for their needs.

Key areas covered include:

Policy information: customers should be able to review key features of their selected policy before they commit to buy.

Add-ons: it should be made clear what cover is provided as standard, and which features are being sold as any add-ons, such as home emergency cover under household insurance.

Excess levels: the level of any voluntary or compulsory excess should be prominently displayed and clearly explained.

Referrals: customers to whom a quote cannot be offered should be directed to possible alternative sources of help, such as specialist providers.

The ABI’s director general, Nick Starling, says: “These guidelines will help ensure that customers get the best possible deal when buying general insurance products online, and we urge all online insurance providers to adopt them without delay.”

Dan Moore, spokesman for consumer group Which?, adds: “The ABI Good Practice Guide is a step in the right direction, providing the recommendations made are monitored and enforced.”

 

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