Insurancewide.com responds to FSA Review of comparison websites

James Harrison, chief executive, said:

"The FSA Review findings highlight valid shortcomings in the way some comparison websites operate but none of these are insurmountable.

Since 1999 when Insurancewide.com launched, there has been an irreversible shift in the way consumers seek insurance.

Comparison websites save customers time, effort and money and as a result have proved incredibly popular.

We welcome the FSA's desire to improve the way these sites interact with customers.

All the major comparison sites are aware of various deficiencies in providing clear information about policy details.

In many cases, however, too many brokers and insurers are still neglecting to provide comparison websites with the details consumers need to make informed decisions.

Insurance comparison has to be a two-way street and it's important that comparison websites talk regularly to insurers about what will benefit the customer.

At Insurancewide.com we are rigorous about who we accept onto our panel of insurers and brokers and we communicate with all of our panel members constantly.

We also test their behaviour towards customers as a matter of principle and we reject those who we find to be spamming customers with emails or providing quotes that exclude high excess charges.

We have been communicating with the FSA ever since their series of reviews began six months ago and we make a point of meeting other comparison websites to discuss how to improve on problem areas.

None of the FSA Review conclusions are surprising and as the original comparison website, we are determined to lead the way in helping consumers compare insurance efficiently.".

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