So, a "Reverse auction" system for car insurance? This can go one of two ways:

1. It is completely price driven, exacerbating the problems of the industry with "new customer only" pricing in year one to get people on board and then leave insurers trying to recover the losses in subsequent years and being pilloried for their "loyalty tax" on renewals.

2. Be more than just based on price and try to give customers the right cover for their money. Insurers could optimise risk, cover and premiums and get the market back to profitability after almost 25 years of losses. More difficult but ultimately the right thing to do.

It's a great idea and it could be REALLY good but I have the horrible feeling it will be.....

You work it out!