Some interesting research this morning on the use of price comparison websites.
Is there a change based on new InsurTech type solutions (micro insurance for example) or have we fallen out of favour with PCWs given recent news about not always getting the best price?
For a long time customers have complained about getting better deals via PCW's vs their renewal, typically received in the post.
It will be interesting to see how the market reacts here - another mortgage/mobile phone/airline type scenario where the price/proposition is guaranteed to be the same regardless of where you buy it... or will carriers look to guarantee the best price if you buy direct.
Either way this one has a long way to run. I tend to get one or two PCW sites to quote then do one or two direct quotes also. Is this normal?
“With influencers such as Martin Lewis advising consumers not to rely on price comparison sites, we are seeing a growing trend in people going direct to insurers for quotes,” noted QuickPages commercial director Sharon Mawson. “Moreover, with the media reporting that insurance premiums have risen by 20% customers are becoming increasingly price-conscious and wary over the level of protection they receive for their money. “As a result customers are sourcing more quotes in a bid to reassure themselves that they have done their research and found the best deal.”