Direct Insurance

The term direct insurance has at least three different uses.

The first use case refers to a type of employer-sponsored employee life insurance policy used in Germany.

Direct insurance is also sometimes used to describe insurance coverage which is underwritten directly by a primary insurer, rather than by a reinsurance provider.

The most widely used definition for direct insurance, however, describes insurance companies which (much like direct banks) sell policies to customers directly.

Direct insurers operate without branch offices or customer-facing representatives and consultants.

Today, direct insurance companies operate primarily via the Internet. Communications are carried out primarily via apps, online portals, email, conventional mail or telephone.

Direct insurers not only present their policies online, they also let you apply for policies online. This can be beneficial to applicants. For one thing, you can save yourself a trip to a branch office or a visit from an insurance broker.

But potential time savings are only one factor. Another important difference is that insurance consultants and representatives often try to sell you additional insurance coverage and services which you may not really need. Applying for the insurance of your choice directly helps to prevent your being targetted by salespeople.

Because direct insurers save on the cost of consultation and running expenses, their insurance policies are often cheaper than those offered by conventional insurance providers.

In Switzerland, most direct insurers are spin-offs of large insurance companies which also have conventional insurance operations. This allows insurers to appeal to people who prefer to apply online, and those who prefer to apply for insurance in person.

Examples of direct insurance providers in Switzerland include Smile Direct (part of Helvetia) and baloisedirect.ch (part of the Baloise Group).

You can apply for Swiss insurance products directly here: Health insurance, car insurance, household insurance, liability insurance, travel insurance, legal protection insurance, pet insurance.

Health insurance premiums in comparison

Find the cheapest health insurance now

Compare now
Request now for free

Leading credit cards

Free credit card

Swisscard Cashback Cards Amex

  • No annual fees

  • Two cards Amex & Visa/Mastercard

  • With cash back

Free credit card

Migros Cumulus Visa

  • No annual fees

  • With Cumulus points

  • Without foreign currency fees

Trading platforms

Brokers with low fees

Swiss Broker

FlowBank

  • Swiss online bank

  • No additional exchange charges

  • No transaction fees for Swiss equities

Swiss Broker

Saxo Bank Switzerland

  • Swiss online bank

  • Favorable prices stock trading

  • High account interest rates

Swiss Broker

Cornèrtrader

  • Swiss online bank

  • No custody fees for stocks

  • Free market research and trading signals

Request now for free

Cheap bank accounts with card

Free bank account

Yuh

  • No account fees

  • Banking partner: Swissquote & Postfinance

  • CHF 20 trading credit with code «YUHMONEYLAND»

Swiss digital bank

Alpian

  • Multi-currency account with Visa card (CHF, EUR, USD, GBP)

  • Favorable foreign exchange rates

  • CHF 100 welcome bonus

Online private account

UBS key4

  • 50 KeyClub points as a welcome gift

  • Online private account with debit card

Expert Benjamin Manz
Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.