|By Business Wire||
|January 29, 2013 10:07 PM EST||
Australian car owners now have access to greater insurance transparency through a new online "comprehensive cover checker", which allows drivers to compare their existing policy against other leading competitors' offerings.
CompCompare is an online tool that summarises some of the key aspects of individual car insurance policies, such as cover and service, across major brands and multiple dimensions. Developed by Progressive Direct Insurance Company, which offers insurance online-only, the tool aims to help take the confusion out of comparing comprehensive car insurance policies.
Progressive's Australian Manager, Simon Lindsay says the tool is a step towards giving more power back to consumers, and with a few clicks, can help consumers feel comfortable that switching to a cheaper policy won't compromise their level of material cover or service features.
"As an industry, we should always be looking to improve clarity and transparency for the consumer. The current model of comparing policies in Australia can be overwhelming – with multiple product disclosure statements to read and call centre conversations to endure – the overload of information makes it very hard for drivers to understand what they are actually signing up for.
"If a car owner finds a much cheaper policy than their current provider offers CompCompare helps make it easy to see how insurance options weigh up at a high level, allowing consumers to eliminate brands that don't offer the right cover or service combination for their needs. Once a consumer has narrowed down their options, it will mean only reading perhaps one or two more detailed product disclosure statement reviews. This helps drivers get the policy with the best possible value, while potentially saving them hundreds in annual insurance premiums," he says.
Progressive Direct Insurance Company launched its Australian business in 2009 as an online-only car insurer. Progressive is different than traditional motor insurers because it gives customers complete access to their policy online so they don't need call centres to buy or manage their policy and do the easy administration. That way they save time and money without the need to make sacrifices on cover or service.