Insurancewide response to BBC Money Programme review of price
on: December 17, 2008, 6:58 am
Release Author: Harvey McEwan, Insurancewide
Release Summary: BBC2's Money Programme (Price Comparison Sites:
Deal or No Deal) was right to expose the shortfalls of irresponsible
price comparison websites. Insurance comparison fared better in
the programme than loans or energy websites and it's important
to remember despite the programme title that most insurance comparison
websites do not focus on price alone; far from it.
Release Body: BBC2's
Money Programme (Price Comparison Sites: Deal or No Deal) was
right to expose the shortfalls of irresponsible price comparison
websites. Insurance comparison fared better in the programme than
loans or energy websites and it's important to remember despite
the programme title that most insurance comparison websites do
not focus on price alone; far from it.
Consumers MUST be able to trust
insurance comparison websites. It's the job of a decent aggregator
to be on their side, to help them understand exactly what level
and type of insurance cover is being recommended and pay only
what the sites have quoted them in their initial search for a
As the BBC points out, comparison
websites are a growing industry and are here to stay. We have
a responsibility to provide accurate and clear information including
guides and advice about all types of insurance. That's surely
the only way people can make informed choices.
As the original insurance
comparison website, pioneering the industry since 1999, we
see ourselves as the custodians and we're concerned that some
insurance comparison websites are making it difficult for consumers
to trust the industry. At Insurancewide we guarantee clarity,
honesty and privacy and there are no surprises. We want our customers
to trust us; we're on their side.
We reject insurers who 'spam'
our customers or misuse their information and we reject insurers
who do not return accurate prices. And the BBC was wrong about
self regulation "fizzling out": we have been closely involved
all year in discussions with regulation bodies about the rules
that govern our industry. It's simply not in our interest to flout
guidelines or mislead customers.
The Money Programme was also incorrect
in saying that all comparison websites are paid by revenue from
'click-throughs'. Insurancewide.com only ever receives a
fee if its recommendation is taken up by the consumer and the
policy is bought.
also known as Insurancewide.com Services Limited, is an online
insurance comparison website offering insurance comparison tools
that allow users to search the market and procure the best insurance
policies and quotes.
was launched in August 1999 as the first insurance comparison
website on the internet. The site also powers tools used on popular
Insurancewide is FSA regulated.
90 Long Acre
Telephone Quotes: 0870 112 8245
Telephone Our Head Office: 0870 112 8239
Email Insurancewide: firstname.lastname@example.org