AMV lands launch campaign for new internet insurance broker

Abbott Mead Vickers BBDO has been awarded the multimillion pound advertising account of a new e-company that aims to do for internet insurance what Direct Line did for the telephone.

Abbott Mead Vickers BBDO has been awarded the multimillion pound

advertising account of a new e-company that aims to do for internet

insurance what Direct Line did for the telephone.



Backed by a group of Lloyds underwriters, Quoteferret has sunk

substantial funds into a website that is capable of interrogating 12 top

insurance companies and delivering their three best quotes within a

third of a second.



It is this capability - the ability to handle up to 27 million hits a

year - that Quoteferret hopes will set it apart from its

competitors.



No figures were given for Quoteferret’s advertising spend, but a TV,

press and radio blitz is planned for later in the year to take on the

market leader in direct insurance, Direct Line. Direct Line spent pounds

11 million on advertising during the past 12 months.



Quoteferret will initially specialise in car, home and travel insurance,

which are the easiest types of insurance to provide. All customers have

to do is fill in a short questionnaire. Those who want motor insurance

will go through an even simpler process because the company has

purchased lists of registered cars from the DVLA.



Andrew Robertson, AMV’s chief executive, commented: ’This exciting

business gives us the opportunity to shake up the domestic insurance

market in the same way that Direct Line did ten years ago.’



Other companies in the online insurance market include the specialist

insurance site screentrade.co.uk and the larger financial services sites

Interactive Investor and Money Extra. Direct Line has an online offering

and AA Insurance’s theaa.co.uk, and Tesco’s financial arm tesco. co.uk

are coming into the market.