Moneysupermarket is a price comparison website-based business specialising in financial and insurance services. The website enables consumers to compare prices on a range of products, including mortgages, credit cards and loans.
Launched in 1999 Moneysupermarket provided on-line mortgage information and in 2000 expanded the service to provide credit card and personal loan information.
Like most comparison websites the company makes its money by charging its partners. Every time a customer buys a product through the site Moneysupermarket earns a small fee from the seller. This means they can offer their products and services free to the user.
Their main aim is to save consumers time and money. They claim to offer simplified research facilities to users which will improve customer’s shopping experience. This then provides their partners with an extensive volume of customers who are ready to make their final purchasing decision. This allows the product providers to be able to market their services effectively.
Nearly half of the entire Group’s business is in the area of Insurance. This section includes a wide range of product types including car, home, travel and life insurance.
Next on the list is the Money section. This comprises two fifths of the Group’s business. Financial products such as loans, credit cards, savings accounts, current accounts and mortgages are included here. Moneysupermarket has recently introduced SmartSearch. This facility is designed to connect customers to products and partners based on their credit profile. This means that both consumers and providers benefit as the results are tailored to fit the client and is more likely to result in a sale.
The company also has a dedicated in house team which provides mortgage and life assurance advice.
Of the remainder of the business over 10% accounts for Travel and just under 5% Home Services. Travel covers package holidays, car hire, flights and hotels amongst others.
Home Services is the newest area for the Group and includes utilities, broadband and mobile phone providers. Also in this area is a section in which consumers can access discount vouchers for shopping.
If you would like to view search results for Moneysupermarket click here.