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.