It probably slipped under many peoples noses what with much pre election legislation ditched and then the election itself……
But on 1st May a bill was quietly and finally passed that allows Motor Insurers to transmit the ‘Certificate of Motor Insurance’ electronically. Car insurance certificates can now legally be emailed to policyholders. Currently only paper car insurance certificates, sent by post or cover notes issued by an Insurance Broker are valid. In the past a special paper was used to deter fraud.
This is a monumental moment in the history of the development of insurance on the Internet as it is now possible to fully transact car insurance in a virtual and paperless manner! ( Hurrah I can hear the tree huggers shouting! and many an office manager.)
This will have a major effect on the way that Car Insurance is transacted and effectively a signal that the Government now has joined up databases with the Motor Insurance Database.
You can now apply for a licence, buy a car, pay your road tax, and buy full car insurance online now that the DLVC and the MID seem to be working together in providing owner details, car details, MOT details and Insurance details to anyone who has access to immediately verify their existence or validity.
So the price of a paperless joined up system is Big Brother! No complaints here though if it makes transacting car insurance more fulfilling and easier! No more waiting for the postman just to order Road Tax or trudging off to the Post Office (If you can find one or one that does Car Tax) and joining the queues on the last day of the month!
Look out over the next few months on Car Insurance Television as we will be featuring those Car Insurance Companies who are offering the service.
You’ll have probably seen the TV ads by then anyway as it will give some companies competitive advantage if their document systems can handle it, and is sure to feature in the future marketing campaigns!