Firm offers mortgage insurance online

The Evening Echo, 13 August 2008

CLICK & Insure has launched a new mortgage insurance policy designed to help people meet their monthly home loans if they are out of work due to an accident, illness or involuntary unemployment.

Nigel Darragh, managing director of Click & Insure, explained that this is the first time this type of insurance has been offered online in the Irish market.

"What makes this product different is that the consumer has a real choice of cover and benefits unlike the 'one size fits all' products currently available. This also makes for real savings in the cost of the premium," he said.

The specialist online insurer provides customers with the flexibility to choose the cover that suits their needs best.

With standard policies, people pay for accident, sickness and involuntary unemployment cover. "However, we offer them the opportunity to save money on their premium by providing the option of including involuntary unemployment cover and also by asking them to choose which period of benefit, three six or 12 months, suits them best."

By using an online quote calculator, consumers can easily calculate the premium that best suits their circumstances.

For example, a person with a monthly mortgage repayment of €1,500 would typically pay a monthly premium of around €72 for up to 12 months benefit. However, with Click & Insure, the same cover costs €54.75 per month, a saving of €198 a year.

Mr Darragh explained that Click & Insure's competitive pricing is a result of a number of factors. "We are in a position to take a much lower commision than other providers by offering this product online."

An additional benefit of Click & Insure's 'free standing' policy is that it is independent of mortgage providers. So, if people decide to move their mortgage they do not have to worry about buying a new policy and going through a qualification period.

"We firmly believe that many people who may be financially exposed need to consider this as an option in an uncertain financial climate," he said.

The group also offers wedding and travel insurance.

See www.clickandinsure.ie

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Competitive holiday insurance goes online

Sunday, March 27, 2005 - By Dick O'Riordan - Sunday Business Post

The competitive holiday insurance market in Ireland is hotting up with the arrival of a new online facility.

The market has developed dramatically in recent years, with Irish people now able to buy property abroad and take several holidays a year.

Click and Insure (www.clickandinsure.ie) aims to exploit the increased demand for insurance that has traditionally been sold over the counter by tour operators and travel agents.

The VHI has emerged as one of the biggest players in the multi-trip market since it introduced travel insurance for its members two years ago.

Its prices undercut many established insurance companies by eliminating the aspect of insurance already covered by its medical policies.

Nigel Darragh, managing director of Click and Insure, said his new company could cut administration costs by offering insurance online.

"Our purpose is to make the process as simple as possible," he said.

"Everything in holidays and travel is now being done online, so why not insurance, particularly for annual multi-trip cover? Our prices will be very competitive, right across the board."

Darragh said early consumer feedback had been positive, particularly in regard to prices and ease of use.

"Initially, we are offering travel insurance. Other products - such as home, wedding and overseas holiday homes insurance - are being developed."

He added that the annual premium for a worldwide multi-trip would be €45 for a single person, or €59 for a couple.

The cost for a worldwide multi-trip family policy (up to five children under 19 years of age) would be €79.

These prices are contingent on membership of VHI or Bupa. Competitive quotes were also available for long-term backpacking.

Darragh, a chartered insurance practitioner, previously worked with GE Financial Insurance in Ireland and headed the insurance section of a retail bank in Britain.

Click and Insure is regulated by the Irish Financial Regulatory Authority.