Rules are to be drawn up that will make it easier for consumers to navigate price comparison sites.
The Comparison Consortium, a trade body for online price comparison sites, is working to ensure that insurance quotes on result pages are presented in a clearer, more uniform way. The Consortium, which will also formulate an accreditation scheme for price comparison site that subscribe to its code of practice, has the support of the Association of British Insurers (ABI).
There are over 130 UK price comparison sites offering UK consumers the opportunity to obtain quotes from dozens of insurers in one go. The group will also introduce professional guidance to further strengthen the price comparison sector as a whole, including guidance for insurance.
Richard Mason, acting head of the Comparison Consortium, said: ‘We look forward to working with the ABI to bring about a greater level of clarity and transparency to the market as a whole, something that can only be a good thing for consumers and insurers alike.’
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