TORONTO, Jan 11, 2005 — CIBC clients and other online visitors to CIBC’s Website at www.cibc.com can now link directly to comparison-shopping for automobile and property insurance from competing insurance providers in Alberta and Ontario. CIBC is the first Canadian bank to offer access to an independent online automobile and property insurance shopping tool, which is powered by Kanetix, Canada’s Insurance Marketplace.
“Automobile and property insurance is something that most people need, but it can also be a major expense,” said Rick Lancaster, Senior Vice President, CIBC Insurance. “Clients are already coming to our Web site for financial information – and now they can easily link to a site that will allow them to research and compare automobile and property insurance quotes in Alberta and Ontario, quickly and easily.”
By providing quotes from many of Canada’s leading insurers, this online service allows consumers to make an informed insurance purchase in a fraction of the time it would take to call numerous insurance providers by phone to obtain quotes. After receiving quotes in minutes, clients can choose to purchase a policy over the phone or apply for coverage online. In both cases, the clients will have the opportunity to speak to, and ask questions of, a licensed agent or broker in advance of purchasing their policy.
“The comparison service provides CIBC clients with more control over their insurance shopping experience,” explains George Small, Co-founder of Kanetix Ltd. “At any time of the day or night, clients can compare quotes and assess the value of each carrier’s insurance product.”
Through cibc.com, clients can also get multiple quotes from competing insurance suppliers for term life insurance and critical illness insurance.
CIBC is a leading North American financial institution with more than nine million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, the United States and around the world. CIBC Insurance provides a wide range of creditor insurance on mortgages, personal loans, lines of credit, credit cards and small business and farm loans. Other insurance products are also available including travel insurance, accidental death insurance, and hospital insurance. You can find other news releases and information about CIBC in our Press Centre on the Internet at www.cibc.com.
Launched in October 1999, Kanetix is Canada’s only national, online insurance marketplace. The Kanetix insurance information and shopping service brings consumers and insurance companies together in a one-stop shopping environment. Each day, thousands of consumers visit the Kanetix Web site to compare insurance quotes from a variety of Canadian insurance companies. Users can select the insurance quote of their choice and choose to complete the application for coverage online or purchase their policy over the phone.
In addition to the insurance marketplace, Kanetix is the leading provider of online insurance quotation technology and develops online quotation systems and Web sites for some of Canada’s leading insurance providers.