InsureTech startup BetterCompare.co.za has launched to market in South Africa, offering consumers the ability to compare top car insurance rates from different insurers.
Better Compare is an impartial and independent car insurance price comparison service, said managing director, Derek Wilson, noting that it retrieves prices instantly for its users to see side-by-side. Users looking to save time and money, can easily compare top car insurance rates from different insurers, quickly.
The service uses the latest digital technology to retrieve quotes directly from the various insurers’ rating engines, helping to save shoppers a lot of time, “and hopefully a lot of money on their premiums each month by helping them find the best deal for their unique profile (personal, car, usage, etc.), quickly and easily without having to call around for quotes”.
Users can get quotes online or via the Better Compare call centre by requesting a Call Me Back on the website.
“All car insurance companies price differently according to their own unique rating calculations and business model. Every shopper too has their own unique personal and car profile, that will be different to the next person.
“In addition, the market keeps changing, such as car values. So, no two car insurance quotes are ever likely to be the same. Therefore it is probably always better to compare at least 3 quotes,” said Wilson.
It is free to use the service and it is also free for all insurers to market their products on the platform, he said.
The platform makes money through a marketing fee from each insurer when they introduce a new client.
“In an increasingly competitive marketplace insurers are looking at new and innovative ways to protect and indeed grow a profitable client base. As consumers look to digital channels to research, shop and buy financial products, Better Compare is uniquely positioned to help connect clients with insurers,” Wilson said.