One of the big names in credit history checking, Experian, is joining in with the insurance comparison party. It will be interesting to see how Experian’s strong brand values as a financial fact-checker translate into car insurance, which remains one of the most competitive markets in the UK.
A number of leading brands including Admiral, Elephant and pay-per-mile insurer, By Miles, have already joined Experian’s panel to provide their products through this new service. The addition of the car insurance vertical means Experian’s price comparison services encompass the money, energy and automotive sectors. Experian’s decision marks a natural evolution of its consumer services, which aims to help people find the right product for them to support their finances.
The company has driven transparency for consumers in the credit comparison market through a series of market-first developments, transforming the way people can search for credit and making it far more personalised. Experian intends to deliver a similar transformation for the car insurance market, leveraging both its wealth of experience in data analytics and its customer relationships.
By unlocking new insights for insurers and brokers, Experian offers their partners a broader view of consumer financial behaviour. This helps them to deliver better, more accurate and more competitive outcomes for customers.
Quotethemarket and Cheshire data systems (CDL) are two of the key API providers supporting Experian in developing a competitive panel of insurance providers.
Amir Goshtai, Managing Director of Experian Marketplace, said:
“Our expansion to offering car insurance comparison reflects our commitment to helping people find the right financial products for them and save them money.
“We’ve established ourselves as one of the fastest-growing price comparison providers by driving innovation and transparency in the credit market, and we know we can do the same for car insurance to deliver better outcomes for consumers.
“We are excited to be launching this new service and many providers have recognised the added value we can provide through the unique quality of our data insights and customer relationships. We’ve already added a number of leading providers to our service and will be adding more in the coming months.”
People can compare car insurance with Experian at https://www.experian.co.uk/consumer/car-insurance/.
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