Soundbites and quotes
Rising motor insurance rates
“We have to find a balance here and bashing insurers for premium hikes isn't
necessarily the answer. While it's clearly in the consumer's interest to keep
premiums affordable, there is a limit and premiums can't always go down as they
have done in the past. If increasing pressure to keep premiums down forces insurers
to start removing or reducing elements of cover from policies, the consumer could
be the one to lose out in the long run.”
“That's why Gocompare.com focuses not just on price but also on the benefits of
each policy – there's nothing wrong with consumers purchasing the cheapest policy
but they must be aware of what it does and doesn't cover. Ultimately it's about
informed choice.”
Hayley Parsons, managing director, Gocompare.com
FSA warns insurers over “savings claims” advertising
“We agree with the FSA's stance on misleading advertising. There's nothing
more frustrating to consumers than being tempted with a virtual carrot. Insurers that
practice this sort of advertising create a lack of trust among consumers which
isn't healthy for the insurance industry's reputation as a whole. If more than
half of motor insurance ads are categorised as unclear or misleading, the industry
clearly needs to address this issue fast.”
Hayley Parsons, managing director, Gocompare.com
Accuracy of quotes on aggregator sites
“The issue of accuracy is one which really bugs consumers and insurers alike –
and rightly so. There's no point in saving time on shopping around if your preferred
quote then changes once the decision to buy is made and you are directed to the
insurer's website.”
“Some comparison websites deliver inaccurate quotes because they don't ask all the
correct information needed to obtain accurate prices. Effectively what they are
generating is an indicative price, which obviously changes when the customer inputs
their personal details to the insurer.”
“At Gocompare.com we recognise this and that's why our quote engine is designed to
deliver accurate quotes that are tailored to what the customer has told us they want
in a policy. Our approach not only delivers accurate quotes, but saves the customer
time because they don't have to re-key their personal information. In fact, if a
customer comes back to Gocompare.com to request a quote on a different product, we'll
save them even more time by remembering their personal details and filling in much
of the form for them.”
“We're passionate about accuracy because we know how much it means to our
customers.”
Hayley Parsons, managing director, Gocompare.com