Important increase of ABN AMRO insurance policies arranged online
More than one-fifth of all insurance policies sold per year by ABN AMRO are arranged via the internet. Buying travel insurance online is particularly popular, but legal assistance insurance, for instance, is also increasingly arranged online.
Currently virtually the whole range of ABN AMRO’s personal insurance products is available on the internet. Most of these are non-life lines. The situation for life insurance is different, because these policies are usually taken out with the help of advisers at the bankshops and advisory centres.
ABN AMRO has been selling travel insurance on the internet since 1997.
“Ever more customers are discovering the convenience of the many opportunities available through internet banking. Customers appreciate being in control of their own financial affairs. This is reflected in the steady growth of the number of products sold via the internet. The internet has thus become a mature distribution channel. The online sale of insurance policies is no exception”, according to
Paskal van Lomm, who is responsible for internet banking at ABN AMRO.
The latest internet-related development in insurance is the fact that the sale is concluded directly online. A signature is no longer needed. Another new feature is that policy terms and conditions can be changed online. Changing the cover of a car insurance policy, for instance, is very simple. Working out the premium online is also easy, with the use of the premium calculator.
An appreciated feature is the insurance summary. This sets out all details of the policy, which the customer has taken out with ABN AMRO, and thus gives customers clear and up-to-date information online at any time.
ABN AMRO has recently launched a promotional campaign to draw attention to its online range. From 23 August to 1 October customers who take out a non-life insurance policy via internet will receive a free income protection insurance for one year. ABN AMRO Income Protection Insurance pays out once-only when the insured dies or becomes at least 67% functionally disabled as the result of an accident.