There is no doubt that people are crazy about price comparison sites, especially those that sell financial products such as insurance, loans, or credit cards.
There are probably several reasons for this.
No doubt is using this type of service, you can save significant money, for example, to purchase the next insurance policy. Each policy is presented to you with essential guidance on what coverage is offered and the price of this policy. For those who are used to automatic updates, this is likely to bring the most benefits, here with real savings. Probably, this website uses each client base as an example to show how much money they can save.
Comparison of insurance is particularly prone to this problem because drivers often need policies that take into account all the various factors that influence the preparation of a proposal. For example, how many miles per year they drive, what kind of car do they drive, do they have any points for their license, how many accidents did they have, etc. This means that each driver often looks for a unique offer for their circumstances; that’s why you don’t buy car insurance from the shelf, such as damage insurance. So this is where iSelect insurance comparison websites sometimes don’t provide, yes, they show the best prices, but often they don’t show the real difference between the policies, even if they can offer graphs that you can try to make.
The next advantage is time-saving.
Gone are the days when you had to go to work because your car insurance agent only worked from 9 to 5 from Monday to Friday and possibly until noon on Saturday. The ability to look at a quote in your time and a matter of seconds has genuinely changed the insurance industry. As an insurance comparison service provider, if you can’t display quotes on the Internet in seconds, it is unlikely that your business will grow. The Internet is no longer news; even my 75-year-old parents use the internet to buy all their financial products without my help.
Most sites now also offer immediate coverage for all insurance policies, although a final signature is required at the end. Personal loans and credit cards still require a name before you receive any money or card. But in terms of insurance, the ability to cover your car at the moment you enter your credit card details is a significant advantage for the user, especially for those who are always waiting until the last minute with these things. Even those who are away from home and have access to any online computer can understand their financial affairs on the Internet, even those who decide to live abroad.
So there are good and not very good things with the iSelect insurance services comparison sites, but there is no doubt that they have changed the way we buy financial products, and I don’t see that we are returning to the way we did before.