Iphone App that Revolutionise the Car Insurance Market
Shopping around for car insurance is hardly the most exciting of activities; entering personal details into online forms and information about different vehicles wastes valuable free time that could be spent doing other things such as playing on the Xbox.
However, UK based car insurance comparison website MoneySupermarket has set about addressing these issues; releasing an iPhone app helps reduce the amount of time and effort that customers have to put into the car insurance search. The app retrieves car insurance quotes available through over 100 different providers in just three clicks.
To start off with users need to create a MoneySupermarket account upon downloading the app. This stores information about the customer such as their age, gender, occupation and the area in which they live; all factors which are necessary in order to calculate car insurance premiums. Although this is a time consuming process, the advantage of creating such an account is that you don’t have to enter this information every single time that you are looking for a quote; saving motorists a significant amount of time on subsequent occasions.
The company has also put a lot of thought into the stage where vehicle details are entered, with app users simply having to enter in the registration plate of the car that they are considering insuring themselves on. Information which is required about the vehicle in order for quotes to be calculated is then retrieved from the vehicle database held by UK based motoring authority the DVLA automatically; significantly reducing the amount of time that users need to invest in this stage of the process.
Other than the amount of time saved, another of the big advantages of the app is its portable nature which enables users to retrieve car insurance quotes in any place or at any time. This could well have a significant impact on the car buying procedure, with users now able to compare the car insurance quotes that they would have on different vehicle, even in the vehicle forecourt, prior to committing to a purchase. This is significant with potential insurance premiums becoming an increasingly large consideration when making new car decisions over the past couple of years in light of the astronomical price rises which have afflicted the market.
Much of these ideas have been the brainchild of the awarding winning digital communications company MIG (Mobile Interactive Group) who were charged with building the app. Indeed MIG credentials are very clear from the outset with The Guardian’s Mark King being very positive about the overall design in his review, praising the app for its ease of use and functionality. He ultimately handed it the prestigious Guardian Consumer App of the Week award upon its launch.
MoneySupermarket's Julie Fisher believes that their app will completely revolutionise the car insurance buying process; taking advantage of the increasing consumer demand for mobile applications. Fisher also predicted that competitors would soon follow suite, and this prophecy has indeed proved to be prophetic with one of the company’s UK based rivals believed to have a similar app in development.
Price comparison companies in other countries could also follow MoneySupermarket’s lead producing similar apps for their respective markets. It is also possible that price comparison apps for other products such as home and travel insurance could also be launched if the MoneySupermarket app proves to be a success.
Expect to see price comparison companies have a much larger presence in the mobile app market over the course of 2012.
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