February 24, 2005
A beverage, a newspaper, tissue paper,…motorbike insurance. Taiwan's unending chain of convenience stores, having proved to be the ideal distribution method for everyone's daily needs and a convenient place from which to send express mail and to pay bills, will once again test its boundaries by providing motorbike insurance.
Three of the island's insurers, Taiwan Life Insurance, Fubon Insurance and South China Insurance, have begun to sell compulsory motorbike liability insurance through convenience stores. Insurers generate a combined
NTD 3-4 billion yearly through their sales of the motorbike insurance policies. Industry insiders expect these insurers to achieve sales of
NTD 100-200 million through convenience store sales. It is said that Taiwan's insurance companies have saturated tradition sales avenues, and are thus searching for alternatives.
At convenience stores, sales of motorbike policies will be carried out by entering a special code number through the stores' fax machines. When the transaction is complete, the driver will possess a legal policy certificate to be kept on their person or in their vehicle in case it is requested by police. Four flavors of insurance will be offered to meet the needs of all scooter and motorcycle fans.
(United Daily News)
E-mail this page.
Invest in Taiwan
