CoverWell, a Mac-friendly online insurance company has launched.

CoverWell is a paperless retailer that offers insurance-based products, including estimates, claims and payments.

CoverWell's services are underwritten by the world's insurance markets, including Lloyds. Policies are effective immediately, claims can be settled in minutes and payments are made directly to customers' bank accounts within three working days, the company says.

Richard Coppel, chief executive of CoverWell, said: “The insurance industry is very skilled in creating and selling policies, but its poor use of technology has restricted its innovation. It has also been slow to adapt its administration and claims models to suit the needs of today’s instant-gratification consumers."

CoverWell plans to introduce a number of lifestyle policy ranges including Home Care, Life Care, Car Care and Card Care – all of which will be sold online.