Gocompare.com welcomes Tesco to the comparison market
Product focus endorses “Comparison 2.0” evolution
Date: 12/09/2007 08:00:00
Leading insurance comparison site Gocompare.com has welcomed the arrival of Tesco to market
and christened the revolution, being led by a new wave of product-focused comparison sites,
as Comparison 2.0.
The approach taken by Tesco firmly positions the supermarket brand alongside
Gocompare.com as one of the websites introducing innovation into the market by switching
the focus onto product quality as well as price competitiveness, while letting the
customer steer and tailor the search process.
Gocompare.com founder Hayley Parsons said: “Tesco has obviously looked at the early
insurance aggregator sites and learned from their mistakes. They want to be seen as
part of the new wave of comparison sites that is shaping the future of this channel
as it enters its second wave. It is particularly good to see them also taking a
product-led approach.”
“The revolution taking place in the online comparison world is worthy of the
tag Comparison 2.0. While the 'Aggregator Old Guard' continues to focus on
listing prices rather than comparing products, Tesco, like ourselves, has had
the luxury of developing a green field site and their entry and approach should help
to grow the market for online insurance comparisons.”
However, Hayley Parsons warned that with just 30 products available the site is
less comprehensive than the existing Big Three comparison services and the addition
of the RBS brands may not be of huge significance to customers.
Parsons continued: “Until now it was almost impossible for consumers to compare
the RBS family against the rest of the market. It is a bit like the Berlin Wall coming
down in insurance terms – the RBS brands haven't been under the comparison site
spotlight until now. And you still have to ask yourself why RBS Insurance is choosing
to protect its flagship brand Direct Line from the full glare of online comparison?
With the greater transparency of comparison sites; price, cover levels and value for
money are all fully exposed. It is going to be interesting to see how they stack up
against the dozens of brands that have been competing on comparison sites
for a number of years.”
Ends
Further information:
Lynsey Walden at Gocompare.com on 01633 654 055
Gordon or Liz at Maw Communications on 01603 505 845
Notes to editors:
Gocompare.com's uses a unique five star rating system to help customers
compare product benefits and find the right policy:
The number of stars displayed against each policy relates to how well it matches a
customer's requirements. Policies which include all the requested features
receive five stars. Policies missing level(s) of cover requested are docked stars.
For example, if personal accident cover is required, policies that don’t include it
will be docked a star, giving customers the ability to make a more informed choice
when choosing insurance.
Gocompare.com launched in November 06, the brainchild of Hayley Parsons the co-founder of
Confused.com. The first of the so-called 'third generation' comparison sites, cutting edge
technology makes the customer experience slick, quick and easy. Unlike some other aggregator
services Gocompare.com always provides a guaranteed quote, rather than just an estimate.
Gocompare.com comparisons are based on comparing the range of cover (using a five star rating process)
and not just cost.
Gocompare.com is authorised and regulated by the Financial Services Authority.