Softening motor rates, more movement between best-price brands and augmented ancillary income emerge as aggregator themes.
Having witnessed the motormarket coming to its senses over the past 12 months, biting the bullet and putting through the increases required to give it a chance of returning to profitability, rates have actually now softened by just under 3% in the last quarter.
The 12th and latest iGO4 Price Comparison Watch has found best-price decreases for two out of every three of the 500 quotes measured. Furthermore, as competition increases, there has been more movement of best price between brands; 40% of the quotes had a different brand showing as most competitive compared to the last report in July. Noticeably there was a much wider mix of brands coming out on top and a greater number of niche players and telematics providers are pinching top spot when the quote circumstances are right. The battle between direct writers and broker brands continues to be closely fought, with the directs edging things by 56% to 44% this time around.
While Admiral continues to be a leading player, there has been a slight contraction of its dominant position, even on Confused. It’s main challengers in the direct channel are Esure and its sister brand Sheilas’ Wheels. Octagon, LV and 1st Central also stood out alongside the ever competitive Swiftcover, as well as Axa’s direct proposition.
If you wish to read more please view the Post Magazine Article
*Taken from the Post Magazine October 2011