DirectAsia.com, the innovative online insurance company, is set to shake up the local motor vehicle insurance industry again by offering a best price guarantee for their premiums.

DirectAsia.com, the innovative online insurance company, is set to shake up the local motor vehicle insurance industry again by offering a best price guarantee for their premiums.

It is believed that this is the first time an insurance company has offered such a deal to reward safe drivers in Singapore.

Andrew Byrne, CEO of DirectAsia.com, said: “We are very excited about this offer. It means that qualifying safe motorists will no longer be subsidising high risk drivers. We will keep their premiums down and make sure they’re the lowest in town. Guaranteed!”

According to Byrne, DirectAsia.com is selective about the type of motorists that it insures, which in turn, enables the company to charge such low premiums without cutting corners on the quality of service. DirectAsia.com is so confident in its offer that it will reimburse any qualifying customer the difference in premium between DirectAsia.com and any other insurer with a lower price.

To qualify, customers must meet DirectAsia.com’s acceptance criteria, be aged over 30 with no demerit points in the last three years, have an NCD (no claims discount) of at least 30 per cent and only use their car for private use and/or commuting.

“We are in a position to offer the best price because we don’t insure high risk drivers and we sell directly to our customers, in addition to managing our claims efficiently. This way, we are able to keep our costs down and at the same time, continue to offer a high service standard. Since we launched our offerings in late June 2010, we have seen hundreds of new customers signing up with us every week and the feedback so far about our service has been fantastic.”

Buying insurance online also means that customers are not forking out for agency fees, explains Byrne. “With DirectAsia.com, you don’t pay agency fees which can easily add another 15 per cent to your bill. So, there’s a big saving right there and just one more way we can be so competitive on price and to pass on the savings to our customers.”