Buying an insurance policy no longer means long discussions with agents over coffee at Maxim's or McDonald's, or finding your thoughts drifting when they quote never-ending statistics. Now you can compare prices on the Internet and get a policy without stepping out of your front door.
Shopping for insurance policies on the Internet has proved popular with consumers in United States and Europe.
In the pre-Internet days, people had to put up with information from a limited list of insurance companies.
According to US-based Forrester Research, buyers do not spend enough time shopping around.
As insurance policies require substantial investment and are bought infrequently, people need to do research before signing on the dotted line.
Recognising a need for more information by consumers, Internet companies such as eCover age.com and insure.com in the United States and ei-insurance.com.sg in Singapore are growing quickly.
