Comments on: Insurance Aggregators Uncovered: an interview with GoCompare and a leading marketer http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049 Insurance Blog Fri, 20 Jan 2012 13:25:36 +0000 hourly 1 http://wordpress.org/?v= By: Financials’ splurge on Adwords: #OccupyGoogle, or opportunity cost of not innovating? « relevance is value http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-158036 Financials’ splurge on Adwords: #OccupyGoogle, or opportunity cost of not innovating? « relevance is value Sun, 20 Nov 2011 08:21:55 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-158036 [...] effects of the industry’s dominant acquisition and CRM practices on customer loyalty. In the words of a UK insurance executive: […]the entire industry is bad in the sense that it has manufactured [...] [...] effects of the industry’s dominant acquisition and CRM practices on customer loyalty. In the words of a UK insurance executive: […]the entire industry is bad in the sense that it has manufactured [...]

]]> By: Benn Houghton http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-100368 Benn Houghton Fri, 18 Feb 2011 14:07:03 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-100368 Being in the insurance industry myself (I am an insurance broker), I was somewhat flabberghasted this morning after using a couple of aggregator sites to find my younger brother car insurance - I had quotes online, all good - however, when you then wish to go on cover with these quotes, the price suddenly goes up - one person from an unnamed insurer/broker told me that the details online have to be checked with an underwriter and that there is no way of guaranteeing the prices they quote online - er, excuse me but no!! the details online and over the phone were exactly the same, and yet a price of £1500 suddenly goes up to £5,000....!! The reason being.....well i wasnt given one. So i tried another company, again, couldnt buy online had to give them a call - online quote was £1800 - i'd like to go on cover please - "thats a great price you have been quoted, but its not the same price i have in front of me"....and??? thats not my problem....."we need to go over your details".....ok, so we did, same as before....price is still not the one quoted and they had to refer to the underwriter....ten mins later i had a phone call "we cant match the price online i am afraid, but we can if we put your mum on the policy and change your occupation" ..........excuse me??? Change my occupation?? You mean commit insurance fraud knowingly?? The response i got was startling ... "excuse me, but stop being a wise arse, I am a broker and salesman and i would not sell you a policy that would put your position in jeopardy" .... well my good lord....I have literally never been so ashamed of the industry i work in.... Being in the insurance industry myself (I am an insurance broker), I was somewhat flabberghasted this morning after using a couple of aggregator sites to find my younger brother car insurance – I had quotes online, all good – however, when you then wish to go on cover with these quotes, the price suddenly goes up – one person from an unnamed insurer/broker told me that the details online have to be checked with an underwriter and that there is no way of guaranteeing the prices they quote online – er, excuse me but no!! the details online and over the phone were exactly the same, and yet a price of £1500 suddenly goes up to £5,000….!! The reason being…..well i wasnt given one.

So i tried another company, again, couldnt buy online had to give them a call – online quote was £1800 – i’d like to go on cover please – “thats a great price you have been quoted, but its not the same price i have in front of me”….and??? thats not my problem…..”we need to go over your details”…..ok, so we did, same as before….price is still not the one quoted and they had to refer to the underwriter….ten mins later i had a phone call “we cant match the price online i am afraid, but we can if we put your mum on the policy and change your occupation” ……….excuse me??? Change my occupation?? You mean commit insurance fraud knowingly?? The response i got was startling … “excuse me, but stop being a wise arse, I am a broker and salesman and i would not sell you a policy that would put your position in jeopardy” …. well my good lord….I have literally never been so ashamed of the industry i work in….

]]> By: david http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-74661 david Mon, 25 Oct 2010 12:31:01 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-74661 what are the business models of gocompare.com? what are the business models of gocompare.com?

]]> By: Ernest http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-14713 Ernest Thu, 27 Mar 2008 15:04:28 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-14713 @Joe Just another middle man - from a business model point of view I suppose aggregators are exactly that. But they're actually adding value (most of them anyway). It's giving the customer a little more than the traditional broker. The problem comes when people shout about comparing when they don't - it makes it hard for the customers to understand who's who and what they do. As for customer loyalty - that's difficult to build in insurance where you don't consume the product until you make a claim. Having said that, I'm sure there's a lot more they could be doing to make them the return destination for all insurance products. Interesting to see that since we wrote this post, Hayley has now extended GoCompare to include utilities and other money products. I've not looked into this in detail but I suspect they're operated by third parties. @Joe

Just another middle man – from a business model point of view I suppose aggregators are exactly that. But they’re actually adding value (most of them anyway). It’s giving the customer a little more than the traditional broker. The problem comes when people shout about comparing when they don’t – it makes it hard for the customers to understand who’s who and what they do.

As for customer loyalty – that’s difficult to build in insurance where you don’t consume the product until you make a claim. Having said that, I’m sure there’s a lot more they could be doing to make them the return destination for all insurance products.

Interesting to see that since we wrote this post, Hayley has now extended GoCompare to include utilities and other money products. I’ve not looked into this in detail but I suspect they’re operated by third parties.

]]> By: joe dunlap http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-14582 joe dunlap Sun, 23 Mar 2008 18:35:05 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-14582 Nice post. But just how much money is GoCompare spending on TV advertising!? At the end of the day they are just another middleman, that, when the crunch comes are not building any customer loyalty for their own brand! Joe Nice post.

But just how much money is GoCompare spending on TV advertising!?

At the end of the day they are just another middleman, that, when the crunch comes are not building any customer loyalty for their own brand!

Joe

]]> By: Ernest http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-7846 Ernest Sun, 01 Jul 2007 21:20:39 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-7846 @All, Thanks for your comments on this. We've got more to post. Our two main contributors held up their side of the bargain in timely fasion! We've just been very busy and very slow in releasing it. More to follow soon we promise ;) @All,

Thanks for your comments on this. We’ve got more to post. Our two main contributors held up their side of the bargain in timely fasion! We’ve just been very busy and very slow in releasing it.

More to follow soon we promise ;)

]]> By: Steve http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-6331 Steve Thu, 14 Jun 2007 14:08:28 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-6331 Very interesting article. Along with the first comment, look forward to part 2. I'm not even sure how I stumbled across this site in the first place, but it's always worth a read! Very interesting article. Along with the first comment, look forward to part 2.

I’m not even sure how I stumbled across this site in the first place, but it’s always worth a read!

]]> By: Ernest http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-5544 Ernest Fri, 01 Jun 2007 10:08:35 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-5544 Great stuff John C. That's what we like to see - lots of content and lots of shared views from people like yourself from around the market. Great stuff John C. That’s what we like to see – lots of content and lots of shared views from people like yourself from around the market.

]]> By: John C http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049/comment-page-1#comment-5491 John C Thu, 31 May 2007 10:08:41 +0000 http://www.insiders-view.co.uk/interview-with-gocompare-and-customer-intel-insurance-aggregators-uncovered/0049#comment-5491 Great read - look forward to the next part. Stumbled upon your blog a few weeks ago and I find it really interesting with some unique content - great stuff! John Great read – look forward to the next part.

Stumbled upon your blog a few weeks ago and I find it really interesting with some unique content – great stuff!

John

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