Working on Insurance Comparison Websites

There is no doubt that the UK has gone crazy with price comparison websites, especially those that sell financial products, such as insurance, loans or credit cards.
There are probably a few reasons for this.

First Is Cost
There is no doubt that substantial savings can be made using this type of service say to buy your next car insurance policy. Each policy is presented to you, with the basic guide of what cover is offered and the price of that policy. For those who are used to automatically renewing will probably get the biggest benefit, here with real savings. It is probably this customer base that each website uses as an example to show how much money they could save. But it often not as easy as this: Often when you read the full policy details, you can find differences between the cheapest option and one more expensive, even if the basic top line requirements have been included. Insurance comparison is especially prone to this issue, as drivers often need a policy to suit all the different factors that go into making up the quote. For example, how many miles a year they drive, what make of car they drive, do they have any points on their licence, how many accidents if any have they had etc. This means that each driver is often looking for a unique quote for their personal circumstances, which is why you don't buy car insurance off the shelf, like say breakdown insurance. So this is where insurance comparison websites, sometime do not deliver, yes they show the best prices, but often do not show the real difference between the policies, even though they may present charts to attempt to.

The next benefit is saving time
Gone are the days where you needed to take time off work, because your car insurance agent only worked 9 to 5 Monday to Friday and possibly to 12pm on Saturday morning. Being able to look at quote in your time and in seconds really has changed the insurance industry. As a car insurance comparison provider, if you do not have a way of showing quotes on the internet in seconds, then it is unlikely your business will grow. The internet is no longer a new thing; even my 75 year old parents' use the internet to buy all their financial products with no help from me.

Immediate Cover
Most sites now also offer immediate cover on all insurance polices, although a final signature is needed at the end. Personal loans and credit cards still require a signature before you receive any moneys or a card. But as far as insurance goes, being able to cover your vehicle the second you put your credit card details in, is a major benefit to the user, especially those who always wait to the last minute with these things. Even those who are away from home and have access to any online computer can sort out their financial affairs online, even those who choose to live abroad.

So there are good things and a few things not so good with insurance comparison sites, but there is no doubt it has changed the way we buy financial products and I can't see us going back to how we did it before.