RealTime IT News

Freeserve to Launch InsuranceCity.com

Freeserve, in conjunction with three partners including content provider GlobalNetFinancial.com, is preparing to launch InsuranceCity.com, the UK's first one-stop shop for a wide range of personal insurance services.

It is expected that InsuranceCity.com will launch in October, with the goal of becoming the top insurance channel in the UK. It plans to expand during 2000 to offer a much wider range of general insurance services.

GlobalNetFinancial, which already operates Freeserve's UK-iNvest.com, will own 26 per cent of the joint venture. Other partners are Cox Insurance Holdings and Harrison Son Hill & Co.

"We are particularly excited about InsuranceCity.com as we have the ability to roll it out across Europe in conjunction with our pan-European expansion of financial sites," said Stanley Hollander, president of GlobalNetFinancial.com.

In the UK, InsuranceCity.com will display instant quotes from a panel of leading UK insurers, including Lloyd's and other household names as Norwich Union, Royal Sun Alliance, Cornhill, Zurich and AZA.

GlobalNetFinancial.com, which is 27 per cent owned by its strategic partners, is emerging as a leading supplier of financial news and information, with a strong European presence. It recently signed an agreement to provide financial web sites for all the current and future World Online International Internet portals.

"InsuranceCity.com is another example of GlobalNetFinancial's ability to provide e-commerce, transaction-based execution services, in conjunction with unique financial content," observed Stanley Hollander.

Freeserve, which this week confirmed it will be among the first UK ISPs to experiment with ADSL connectivity, had 1.32 million active registered accounts as of June 26 this year.