RealTime IT News

Alliance Brings Insurers to Pay Online

[Sydney, Australia, June 28, 2000] Insurance company Royal & SunAlliance will offer its customers the ability to investigate and pay for a range of financial service products online, after confirming an alliance with national postal service Australia Post.

The POST BillPay site, which will launch in October, will be underwritten by Royal & SunAlliance, and will offer services such as house, contents, motor and travel insurance. Customers will use an ID and password to log on and receive a quote online, pay an insurance premium, check policy details and process claims online.

The site will extend and complement Australia Post's over-the-counter and telephone bill payment options, and will add access to more financial service products over time.

The alliance is also online continuation of Royal & SunAlliance's wholesaler approach, said Michael Williams, managing director at the insurer.

Australia Post has conducted trials of its service since April, allowing 2000 customers to pay bills online for six of the 390 organizations for whom Post processes transactions at its branches. These include Victorian utilities Powercor Australia and City West Water.

Australia Post retail group manager Bob Finch said that the trial had so far returned positive feedback from both consumers and billers. Much of this attitude carries over from the ease with which consumers can pay a variety of utility, insurance and taxation bills and do some of their banking at post offices. It also stems from the now fairly ingrained perception of Australia Post as a trusted third party for such transactions, and one that has no interest in taking over biller to customer relationships.