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Posted September 16th 2008

Norwich Union enters the Price Comparison Market

In a move which has surprised many, Norwich Union the “Direct Insurer” has withdrawn its car insurance products from all price comparison websites and launched its own version. All prospective customers seeking a quote either online or over the telephone will be offered several ways to check the price, policy cover and features against 1401 other insurers.

According to the Director of Marketing at Norwich Union, David Tyers, no car insurance company is the cheapest for every single quote offered, however, by being transparent to prospective customers and telling them whether they competitive or not as the case maybe, sales will increase.

There are several price checks Norwich Union can offer, these include “first check” which is where customers can see example of car insurance quotes from the company and a range of competitors. The data updates every 5 seconds.

Closure Check occurs during the process of gathering quote information for comprehensive insurance cover and consists of a quote box appearing displaying a illustrative price that “someone like them” has recently received from Norwich Union.

Finally “full check” is offered once a customer has reached their end of the car quotation process. They will be offered the ability to benchmark Norwich Union’s car insurance quote against competitors for both price, cover and features.

In the event customers choose to buy a competitor quote, there will be links which can be clicked on for users to go directly to those competitor sites. It is not clear, however, for those telephoning for a quote as to whether they will be put through to a competitor.

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