A quarter of consumers who changed motor insurer in 2002 used the internet to do so, according to a survey by consultancy eBenchmarkers.
By the end of 2002 the number of motor insurance policies initiated online was 2 million per month.
The survey also forecast that 40% of new motor policies will be generated through the internet by the end of next year.
The survey is good news for online motor insurers battling for a slice of the annual £8bn motor market. The survey claims that online insurers are set for an increasing share of the £1.5bn of annual premiums generated by policyholders switching insurers each year.
Meanwhile the research found that streamlined application processes had a significant impact on sales results.
Conversion rates were as high as 80% for insurers with the shortest processes.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
