Business Times' 15 Aug Report on AMQS : view via AsiaOne's website
Did you ever wonder: why when you ask your car insurance agent for a few quotes to compare, he normally takes some time to revert?
On the other hand, if you tell your travel agent you need to be in London on 1 Sep 2007, that agent can almost immediately read off his computer screen the airfares offered by different airlines.
What caused the delay, in the case of the car insurance agent? Well, the answer is: car insurance premiums quotations do not have a common platform, unlike airfares.
Car insurance agents hence have to key in the details (your car make, model, your age, etc) into different quotation systems to get quotations from various insurance companies!
As a result, although consumers want more comparison, agents loathe having to get multiple quotes. So consumers have to get quotes from a few agents.… something not very efficient.
AMQS - Automatic Multiple Quotation System was designed to resolve this quotation bottleneck! This system will allow the agent or intermediary to key in the information ONCE but get MULTIPLE quotations. As the agent or intermediary becomes more efficient, consumers will also benefit.
Participating insurers will also get to benefit as their quotations get to a BIGGER base of customers. The law of large numbers depicts that these insurers will get more business.
So this is a TRIPLE win: ie win-win-win situation:
For more information, please contact Mr Ken LOH at 98566914 or email to firstname.lastname@example.org