Hiscox has launched the first household insurance available online, geared to affluent homeowners.

Hiscox Online clients can buy and manage their own home and contents insurance at any time of day or night.

Hiscox says the launch is in response to the growing number of cash-rich, time-poor Britons who are now taking to the internet for shopping, share dealing, accessing information and even home-buying.

Hiscox expects the service will dramatically increase the number of people who buy specialist cover at a time when only 20% of people with these requirements get superior cover.

Through www.hiscox.com or any partner sites, visitors to Hiscox Online can obtain a quick quote and then secure their home insurance without the need to amass paper or make phone calls.

Policyholders are also offered one-to-one responses from a security adviser and a list of vetted specialist valuers as well as discounted security products.

Hiscox chief executive Bronek Masojada said: “The growth of the entrepreneurial culture in Britain is creating a new army of successful professionals who like the convenience of shopping on the internet, but who also want quality brands.”