Defaqto welcomes comments by the FSA on aggregator websites

Financial research company Defaqto has welcomed today's review by the FSA on insurance comparison websites. The FSA's findings confirm what Defaqto has reported on for the past 6 months

Many of the comments by the FSA echo the findings of Defaqto's own studies into this area, both in October 2007 and in its latest Insight Report "UK Motor Aggregators 2008 - Still much to do" which is due to be published next week.

The forthcoming report from Defaqto studies the workings of 41 separate motor insurance aggregator websites, looking in detail at how they perform over 35 separate criteria.

"In October 2007 we discovered a number of serious issues with the way some aggregator websites worked" says report author Mike Powell, Principal consultant at Defaqto, "The findings in our latest report show that many of these issues are still with us." One of the biggest issues identified by the FSA is the focus by many aggregators on price, with little attention paid to policy cover and benefits.

This week Defaqto has launched a new website - www.defaqto.com - which allows customers to check some of the most important elements of cover for all comprehensive motor insurance policies held on its Aequos Database, as well as many other financial products.

"We have always believed that cover is just as important as price", said Mike Powell, adding "That's why our free Compare tool will allow customers to check what they are getting from their current insurer and compare it with any new provider's policy".

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