Zurich insurance deal with Stelios

Insurance group Zurich has teamed up with easyJet founder Stelios Haji-Ioannou to launch a cheap car insurance offering.

Stelios will use the Easy brand and the same model that has proved successful in his other ventures.

As well as the low cost airline, Mr Haji-Ioannou has launched a chain of internet cafes and a car hire business.

The car insurance offering will use the internet to keep costs down and offer lower premiums.

"The only time customers will have to pick up the phone is if they want to make a claim," Mr Haji-Ioannou explained.

"easyJet trained its customers to buy on the internet and now it's mainstream to buy travel that way. We have convinced people to buy bus tickets, pizzas and mobile phones online so why not motor insurance?" he added.