From Auctions To Insurance

U.K. insurer Norwich Union (Norwich; US$373.6 billion in total assets) and electronic auction house eBay (San Jose, Calif.) have launched an online insurance center in an effort to boost sales through Norwich's online sales channel. "We are seeing more and more people buying insurance online in the U.K.," says Mark Godfrey, head of marketing for the carrier. "It has been a growing trend, and we recognized an opportunity." Designed and developed by eBay and launched in July 2006, the online insurance center provides 15 million U.K.-based eBay users with information and quotes on auto, home and travel insurance.

EBay users are able to click into the insurance center through a series of ads on eBay's Web site. The ads feature deals that Norwich Union is offering only to eBay users. Once in the insurance hub, users can purchase insurance policies online. "Our strategy is to work with key online brands such as eBay, Yahoo (Sunnyvale, Calif.) and Google (Mountain View, Calif.) to help facilitate the importance of the online channel," says Godfrey.