Confused.com has partnered with digital and IT consultancy, Mando Group, to work on new digital projects.
The new innovations will aim to improve the journey for customers when they are getting car insurance quotes, which across the industry, can be a lengthy and painful process.
Confused.com is the UK’s longest-running digital marketplace for insurance comparison, and wants to provide quotes which require ‘as little effort as possible from the customer’.
Loyalty doesn’t pay
According to Confused.com’s nationally representative survey of UK drivers, almost half (47%) of motorists who renewed their car insurance in the second quarter of the year (April-June 2019) saw their premium go up by an average of £50 when they opened their renewal notice. And worryingly, just over half (52%) of drivers who renewed their insurance during these months stayed with the same insurer, suggesting they didn’t seek a better deal elsewhere.
That’s in spite of the research revealing that drivers who switched car insurance providers at their last point of renewal saved £81[1], on average.
The new projects will primarily be targeted at younger motorists (18-24), who are predicted to make the biggest savings when shopping around – an average of £169 by switching at their last point of renewal. This big saving is reflective of the higher premiums paid by younger drivers; the average price of car insurance in the UK is £789, versus £2154 for drivers aged 18.
Speaking of the partnership, Ian Finch, CEO at Mando Group, said, “We’re really excited to be working with Confused.com on digital projects. There’s a lot of synergy between our companies; Confused.com’s mission is to help take people from ‘confusion to clarity’ when navigating the insurance landscape. Mando Group’s mission is to simplify people’s lives.
“Getting a price on your car insurance tends to be a fairly drawn out process that none of us enjoy doing. So, we’re looking forward to making that easier for customers and removing some of the headache.”
CEO at Confused.com, Louise O’Shea, said: “Seventeen years ago we created an entire market. We used tech to simplify a very real financial problem, taking a process that took hours down to just minutes. But now – and rightly so – we want the way we make decisions about our finances to be ever-more seamless, low effort and personal to us.
“Working with companies like Mando Group we’ll be able to take our services to the next level of convenience for people in the UK. And as part of a global group of digital insurance comparison marketplaces – the largest of its kind – we’ll bring this next-level convenience to people across the world.”
Unless otherwise stated, statistics obtained from a nationally representative survey of 2,000 UK motorists carried out by One Poll on behalf of Confused.com. The survey ran between 03/07/19 and 05/07/19.
[1] ‘Statistics obtained from a nationally representative survey of 2,000 UK motorists carried out by One Poll on behalf of Confused.com. The survey ran between 21/12/2018 - 03/01/2019.’
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