The ING Direct company offers a wide range of financial services including insurance, banking, and investments.
A Dutch company, ING is the largest and most successful financial institution in the world as far as profits are concerned. Well, at least they are attributed to have been in 2012.
From what I can gather, ING started out as an insurance company back in the mid 1800's. Nowadays, they are more often thought of as a huge banking conglomerate (you've probably heard the term "multinational"), but insurance is still a great portion of their business model.
The banking portion of ING is unique (or should I say was unique) in that it is referred to as a virtual bank.
No local branches, but all of your banking needs are dealt with online, over the phone, via the mail, or at ATM machines. This is a modern offering that suits a lot of people while keeping costs down for the company.
When it comes to ING Direct USA, it was bought up by Capital One back in June of 2011, and is now in Capital One 360. Read more about Capital One 360...
Of course, here at Auto Insurance Helper, we are primarily concerned with ING car insurance and what kind of benefits our readers can expect if they choose to insure their vehicle with ING.
Interestingly enough, ING auto insurance is not as readily available in as many countries as their other financial services. Life insurance is quite broadly available and of course the banking options are extremely widespread, but the car insurance availability is different.
Some countries like Belgium offer car insurance branded as ING, but other countries like Australia offer the same insurance no longer commonly branded as ING Australia but rather OnePath car insurance.
ING Canada car insurance is now offered by Intact Insurance (who bought the ING Direct auto insurance interests in Canada in 2012). For those of you who want a quick online quote, you can still get it through Kanetix Canada.
It seems ING Group, the founding Dutch company of the ING brand, has been systematically selling off large portions of both it's insurance and banking interests around the world.
At first I wasn't quite sure why they wer doing so, but they are making a ton of money on the sales, so I presumed that it was worth their while or they probably wouldn't have done so. ;)
With a little investigation I discovered that they really had no choice. Apparently some big banks can't escape the economic fallout of what may have been bad management. Back in 2008, the Dutch government gave the ING Group a boatload of money with the condition that they had to sell off their insurance and investment sectors of the business.
Basically, if you're looking for ING Direct insurance, you should probably be aware that you may not be dealing with ING after all but one of the companies that purchased that portion of their business. Does that make a difference to you? It probably shouldn't unless and until the service changes along with the name!
Add your review of ING insurance based on your own personal customer experience. We'll add it to our growing list of consumer ratings online.
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