OREANDA-NEWS. June 15, 2010. As part of our continued commitment to make our life insurance services available online, a new functionality has been added to Swedbank Internet Banking in May - the possibility to set up the Credit Life Insurance contract. Customer polls have shown that, as far as life insurance is concerned, people prefer more cost-efficient and convenient channels, reported the press-centre of Swedbank.

Already today 50-60% of amendments to Swedbank life insurance contracts are made by the bank's customers via online banking. The Web is also becoming increasingly popular as an alternative channel where life insurance contracts are formed - already as much as 10% of Swedbank's life insurance contracts are entered into via Internet banking.

“The Internet, given its convenience and speed, is increasingly finding its way into not only daily banking services, but also in the area of life insurance. In life insurance, branches surely remain the dominant channel where the customer has access to in-depth product consultations and is advised about the most suitable solution. However, as an alternative channel, the Web will certainly gain in significance in life insurance as well,” says Reinis Jansons, the Head of Swedbank Investment Products, adding that “Credit life insurance means caring for the loved ones. The home is closely associated with every family's sense of security, making it essential to eliminate all possible worries about it by not only insuring the home but also income to repay the loan.”

The quality of life insurance services is constantly being improved in Swedbank's Internet Banking facility:  via online banking, amendments can be made for the greater part of life insurance contracts, and contracts can be set up for Family Support Insurance, Savings for the Child's Future and from May also Credit Life Insurance.

Insurance contract information available on the Internet banking site has been enhanced and made user-friendlier - printing insurance contract documents has been enabled, a more detailed description of products selected by the customer has been provided, and life insurance news and life insurance product offers have been added and will be supplemented and updated regularly.