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 go get quotes from a few agents.… something not very efficient.

The above is now set to change ... with the launch of AMQS - Automatic Multiple Quotation System ... the collective effort of a group of established agents which is increasing gaining the attention and acceptance of motor insurers.

AMQS allows multiple motor insurance quotations to be generated at one go, thereby saving time, labour and increasing accuracy.

Singapore's mainstream business newspaper, The Business Times featured AMQS on 15 August 2007. The report, found on page 21, was by Senior Correspondent Mr Samuel EE.

The Association is working on how best agents and intermediaries can leverage on the AMQS to do business more efficiently.

If you are an agent or intermediary and wish to know more / try out the AMQS, please click here.