Media Release: Insurance Australia Group

MEDIA RELEASE INSURANCE AUSTRALIA GROU This is a media release - distributed by AAP MediaNet.

New Australian car insurer breaks the 60 second quote barrier

(June 25, 2009) Strapped for time. Car insurance too complicated. It's what consumers say, and it's being addressed by Australia's newest online car insurer, The Buzz.

The Buzz (www.thebuzzinsurance.com.au) is part of Insurance Australia Group (IAG) and the first car insurer to be built entirely from the feedback of Australian internet consumers.

It's built for speed. In an industry first, people can get a quick quote in 60 seconds and under. It also includes a host of other online 'self-serve' features consumers have requested, including Live Chat.

Consumers can also choose exactly what cover they want for their car, and only pay for that.

The Buzz CEO, Jacki Johnson, said about 3,000 people joined Australia's first online insurance 'co-creation' community to help develop a new online insurance experience.

Called My Insurance Ideas, the community generated more than 1,000 ideas which helped guide the development of The Buzz.

"The Buzz has been developed from the voice of Australians," Ms Johnson said.

"People told us they want insurance products and services that are flexible and that suit their own needs. Importantly, they want choice and control over what they do - after all, that's why they're using the internet.

"We've also put a big emphasis on making our insurance easy to understand because people told us they didn't understand what they were buying." Ms Johnson said The Buzz would continue to 'co- create' with people to develop its business.

"Our business is based on what consumers want. People are buying insurance to protect important personal property. We want to make it easy for people to look after their assets and there's no better way than to get people involved in shaping the way we develop our products and services," she said.

More information: Contact Michelle Fraser on michelle.fraser@thebuzzinsurance.com.au

What's The Buzz? The Buzz (www.thebuzzinsurance.com.au) is an innovative Australia online car insurer, genuinely shaped by the community. It's for busy people who want to manage their insurance quickly, easily and online 24/7. It features an industry first, the 60 second quick quote and simple language. The Buzz is part of Insurance Australia Group (IAG), an international group employing around 15,000 people in businesses which underwrite around $7.8 billion of premium each year.

SOURCE: Insurance Australia Group