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Car Insurance: 1990 - present
2000 - Further regulation of the Car Insurance
with the foundation of the General insurance Standards Council
GISC regulatory body to control standards in selling car insurance.
From 2005 Car Insurance companies, car insurance brokers and
agents will be regulated by the FSA.
Car Insurance has undergone a massive revolution
in the way that it is distributed over the last ten to fifteen
years.
Direct Line started the goldrush for selling cheaper car insurance
direct to the public and cutting out the expense of the middleman,
by using telephone staff trained with scripts. Telesales and
call center technology sprang up around the country to support
these operations that could offer instant cover and reduce
distribution costs, and all the major composite insurance
companies rushed to join the game, fed though constant media
attention in the form of advertising.
Millions of pounds has been invested by the large composite
Car insurers, the specialist car insurers and the Lloyd’s
market, in top of the range back office computer systems which
cut the overheads of staff and can offer a wider range of
non standard car insurance policy components to the ever increasing
non standard consumer.
Car Insurers have also made changes in their methods of rating,
underwriting practice and the forms of policy which are issued
with the object of simplifying procedures to contain expenses.
Greater standardisation of car insurance systems has also
been achieved as a result of reconsideration of methods to
make them more amenable to computerisation.
With the arrival of the Internet and the
broadband revolution of 2004, the focus of all car insurance
suppliers is now away from call centers which are costly to
run, and towards investment in the selling and promoting of
Car Insurance via the Internet.
At Car Insurance Brokers we are continually
aware of the best Internet car insurance deals in the market,
and are constantly adding new insurance companies as they
produce better car insurance products online.......
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UK
Car Insurance Online
