Online insurer Rapidinsure.co.uk is expanding into motor insurance and will be offering the service to its 50,000-strong customer base as well as new customers.
The company, which was acquired by Ofex-listed Berkeley Morgan Group in December 2000, already provides house and contents, travel, life, pet and computer insurance.
The move is another step forward in Berkeley Morgan's product development strategy for Rapidinsure.
Berkeley Morgan said sales at Rapidinsure were increasing and overheads had been reduced by 50%.
It added that losses at the company had been reduced from over £85,000 per month to less than £10,000 per month and Rapidinsure was expected to move into profit within twelve months.
Rapidinsure's motor cover will offer quotes from a panel of 17 insurers. The insurers involved include Norwich Union, R&SA and AXA, as well as other specialist niche underwriters.
Quotes will be available either online or from a call centre.
