Communications giant BT this week selected online insurance intermediary Screentrade as financial services content provider for its new internet portal, BTopenworld.

The BT service is due to launch in July. It will provide consumers with continuous high-speed access to the internet.

The portal will also allow interactive applications based on new asymetric digital technology (ADSL).

ADSL is a new system that allows internet users to download high capacity data down phone lines.

The cost of the BT service will be £39.99 a month for residential users and between £90 and £150 for business users. For that, users will have unlimited access to the web from their homes and workplaces without the need to install a new phone line.

Already 35,000 customers have signed up for ADSL technology and BT is planning a major marketing push to attract new customers.

Screentrade is owned by Misys. It offers motor, home and travel insurance from a panel of 22 insurers and also guarantees to match any rival company's quotes.

It will be one of three financial content providers on the BT portal when it launches. The others are Reuters and UK Invest.

The news follows an announcement by the company to pay the difference of any quotation that a customer finds.

Screentrade editor-in-chief, Paul Charles said: "We are delighted to have been selected to help develop the second internet wave, which will offer consumers faster access to 'must-have' products like insurance."