Insurance cos (proposed buy outs, etc. discussion) Message Board

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Non-Tech : Insurance cos (proposed buy outs, etc. discussion)

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To: QuietWon who wrote ()	9/2/1999 7:19:00 PM
From: Doug (Htfd,CT)	of 55

DIRECT LINE LAUNCHES ONLINE UK INSURANCE SALES LONDON, Aug 31 (Reuters) - Direct Line, Britain's leading motor insurer and owned by Royal Bank of Scotland, on Tuesday said it was launching a website to sell instant insurance online. Directline.com would go live on Wednesday and provide individuals with motor, home and car breakdown insurance at any time. The firm claimed the website would revolutionise the insurance market with ''the fastest, most efficient 'quote and buy' service,'' benefiting over 12 million UK Internet users. ''Direct Line's new website will irreversibly alter the insurance market in the same way as Direct Line shook up the traditional players fifteen years ago,'' said Chief Executive Ian Chippendale. Direct Line pioneered insurance sales by telephone in Britain. The company, which bypasses insurance brokers completely, expects that by 2003 at least 15 percent of motor insurance will be bought over the Internet, 70 percent by phone and only 15 percent at insurance branch offices. Chippendale said potentially all Direct Line's financial products could be sold on the Internet in time.

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