Sometimes the cheapest product isn’t the best, and although there is no denying the success of Moneysupermarket, the Meerkats and Go Compare, there are a growing band of consumers out there who look for reviews and ratings. You can see it on Booking.com, Amazon, eBay and many big name High Street brand websites. People want to feel that they’re buying something that’s genuinely good, with aftersales back-up and a fast response if things go wrong. So this new idea is interesting news;
Compare By Review is the first and only comparison site which ranks providers based upon customer experience and product quality, not soley on price. In addition, this is done without the need for the customer to part with any personal information. Today the company covers pet, travel, health, life and home insurance.
With a recently launched website, Compare By Review provides an impartial and unbiased overview of the market, to help consumers make more informed decisions. Compare By Review comparison tables are not influenced by commissions or fees it receives from providers.
A team of researchers and editors use a number of tools and checks to review product quality and collect real user reviews across all third-party platforms, then through applying a unique algorithm provider scores are calculated out of 10 to give a simple to understand comparison table. This is all achieved without the customer having to part with any information.
Founded by Richard Brenkley and Mark Gordon, Compare By Review was born from a frustration over comparison sites only displaying providers who are paying to be there and having no due care to customer experience nor product quality.
Whilst comparison sites have established themselves as the main source for buying financial and insurance products, Richard Brenkley explains how the public are often unaware of the real mechanics behind these sites and why some providers are ranked higher than others.
“The stark reality of these comparison websites is that money talks. Your choices are quite limited in the comparison market; you can pick from a list of the cheapest policies or from a group of insurers that pay the comparison website the most money for your business.
“Over the last few years I have run many campaigns across the top comparison sites, the ones the public trust and use every day. In two instances I was able to rank a brand new ‘never traded before’ insurance provider in the very top position of two very high-profile websites, based on offering to pay the most in commission. How can this be in the interest of the public?
“There is no measure of quality, no barometer for whether the provider you are handing over your money to will deliver the product you think you are buying, no gauge as to whether they deliver on their promises.”
REVIEWS MATTER, ESPECIALLY WHEN REAL PEOPLE POST THEM
Studies show that 94% of consumers would be more loyal to brands that practice transparency. The majority of consumers claimed they would be more loyal, and pay more, for particular insurance brands if they were more honest about the exclusions in their policies.
Brenkley claims that this transparency is what fuels Compare By Review.
“By approaching people on social media or inviting others to share their opinions of a provider, it encourages a sense of honesty and consumer-driven authenticity. Compare By Review prides itself on focusing on real life customer experience. By providing an honest and unbiased comparison, we allow consumers to find the best product to suit their needs, much in the same way Tripadvisor does for hotels.”
By responding to customers’ demand for transparency, Compare By Review is disrupting the comparison and insurance industry, simply by communicating directly with consumers to identify better financial products instead of focusing solely on cheap prices.