We love comparison sites or as us insurance geeks call them; aggregators. They market their hearts out to consumers and offer a brilliant way for brands to showcase their products and services to consumers. It is a shame that not all the brands on the sites see them in the same light...
We’re going to get compared
Every great concept has its weaknesses, the comparison sites create slight ripples in the way that insurers react to being constantly judged and compared. It is no secret that most comparison site users are hunting for the best price. We’d like to see the wording and approach shift to focus more on “value for money”. That's what the regulators ask, us insurance brands are required to help customers understand what they are buying.
Insurance4everyone will soon be on not just one but two headline comparison sites. It takes a bit of time to join as our quote engine needs to be laced up with theirs (using nifty codes). We are looking forward to positioning ourselves up there with other national brands and offering exactly what we set out to; value for money. It's like preparing for a digital insurance brand product show, luckily we have some tricks up our sleeve to wow you!
Home insurance is just like any other product you buy; you pay for what you get. Sometimes, if something seems too good to be true, it is.
We heard a story recently, which is a possible reaction to the comparison 'on price alone' culture. Read on...
Unsustainable insurance premiums?
An insurance shopper recently emailed our marketing team to tell us about their car insurance renewal debacle. ‘Peter’ had sourced his car insurance via a comparison site from one of the big national advertising insurance brands. They were cheapest on his comparison site of choice and he thought; “bargain”.
His year passes without incident, so imagine his shock when his renewal letter arrives with a whopping 250% increase in price. They simply couldn’t keep his price at the level that had enticed him in the first place, where is the sense in that?
“I though there must have been some kind of mistake, why would they do raise it by so much?”. Peter told us.
Peter called his insurer; he pleads and his premium is reduced by a paltry 10%.
Peter then goes away and compares again. Behold, the insurer top of the list is his current insurer at 50% of his renewal premium quote! Peter calls the service centre and is told he will have to allow his current policy to expire and join through the comparison site as a new customer.
Oh dear, what a terrible way to treat your customers. That's less than the service insurance shoppers need!
Up to your brand to support you!
This story is in no way an indictment of the comparison site culture; they simply bring insurance shopper prices and products. Shoppers should be aware when buying an insurance product from comparison sites, the cheapest insurers cant afford to stay cheap for ever. The price in year 2 might go up, even if you don’t claim. Over two or three years, what originally looked like a great deal turns into extra work for you and a bit of a pain.
Take a good look at the terms and quality of the financial security on offer- more secure insurers tend to charge higher prices; its simple demand and supply…
Our premiums are guarenteed not to go up (if you dont claim, terms apply.. etc).
When we launch on comparison sites, our Home insurance prices will be set at a sustainable levels- we will not be the cheapest of the cheap, because we provide quality products, so we’re confident they provide value for money.
PLUS! Even with our comparison site product, you can fix your renewal price just like when you come direct, then and there! No more worrying about 200% increases. Its how we like to reward you for choosing us.
Look out for us on the comparison sites all next year!
We want our clients to stay with us and build a relationship of trust, if when it comes to renewal time, you want a few more insurers and product options- you can phone our customer service line. We stock many more products and you can buy them without going to another website or provider.
With us you can freeze your premium; compare when you renew, buy AND get a deal that doesnt cause you a heap of headaches.
Now that is simple[s]… with 0% gimmicks.
James*
Marketing & Branding
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