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Insurance Business | 04 Aug 2014, 09:02 AM Agree 0
A fledgling insurance comparison website has unveiled a new car insurance offering distributing the products of four motor insurance players.
  • Matthew Denehy | 04 Aug 2014, 02:43 PM Agree 0
    Hang on!.......are they looking to add more insurance BRANDS or more insurance COMPANIES as if they keep going they'll be as good as their competing comparison site where 1 insurance company was dominate therefore not really being a comparison but a coercer for the consumer. Still not sure why the ACCC haven't looked into this as misleading the consumer.
  • Saffy Power | 04 Aug 2014, 06:04 PM Agree 0
    Why wouldn't they look to add both more insurance BRANDS and COMPANIES!? If you take the time to listen to customers rather than industry non-sense you would know that we like researching and buying insurance online. I for one always use a comparison. I may visit a couple of extra insurers not shown in the results but using a comparison can save a lot of time and effort. From what I understand iSelect, Comparthemarket and Compare insurance are all open to listing other insurance companies. The big companies don't like to be compared and want to keep consumers in the dark. "Lucky your with AAMI" until you make a claim was my experience. I'm glad I had the chance to share my review.
  • Matthew Denehy | 05 Aug 2014, 10:34 AM Agree 0
    My concern isn't so much that comparator sites exist, simply that one comparator site has 8 brands underwritten by 1 insurer and a 2nd insurer who more handles prestige motor which means that the consumer is simply getting a comparison of 1 insurer as most mums & dads don't own Ferrari's. I think this is not in the spirit of comparison. If they were true to the process of comparison they would ensure that they have 9 separate insurers as this is the only way to demonstrate a true comparison. You then have to question who owns the comparison website and is it just a portal to 1 insurer simply to act and look like a comparison but truly just a collector.

    If you really want to get the other insurers to play in this space then the comparison really needs to go further than premium as no one is comparing policy benefits against premiums.
  • Josh | 03 Sep 2014, 11:47 AM Agree 0
    Hmmm, if this isn't comparing policy benefits I'm not sure what is. https://secure.comparethemarket.com.au/ctm/car_brands.jsp#/?stage=start
    The only reason the policy benefits aren't compared against premium is because the big insurers prefer to bedazzle consumers with their advertising jingles rather than be transparent.
  • Anthony | 19 Sep 2014, 05:11 PM Agree 0
    I think the term "compare" is highly deceptive and many of these sites are just big advertising agencies - thats do big campaigns on TV and radio trying to get our attention. They need trusted brands to complete the deception. As Matthew stated - "8 brands underwritten by 1 insurer" not sure how that helps... Claims processing and getting the right advice are what consumers need, not comical advertising with clowns and animals.
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