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Lloyds TSB becomes first high street bank to launch insurance comparison site

(PRLEAP.COM) The site, http://www.insurance.co.uk, offers the most comprehensive search of any comparison service in the market. Uniquely, while price will remain an important point of comparison, insurance.co.uk also searches for policies based on the individual elements of cover consumers actually need and the overall level of service offered by policy providers. These three criteria offer a truly unique and comprehensive means of comparing policies – and allow insurance.co.uk to go a step further than any other comparison site.

Consumers using insurance.co.uk can search for motor insurance policies from a panel of more than 35 specially selected firms - including household names and niche car and motorcycle insurance providers.

In recent years, the number of consumers using comparison sites has risen dramatically and indications are that the market is likely to double over the next three years. But comparison sites have so far done little to address criticism from consumers and the industry, levelled at their lack of transparency.

Tackling head-on criticism from consumers about the complexity of current comparison services, insurance.co.uk offers a streamlined and user friendly experience from start to finish. The quote process is completed in as few as four online pages, and at the same time makes fewer assumptions about customers’ requirements.

Steve Grainger, head of insurance.co.uk, said: “For too long now, consumers have had to make do with comparison sites that offer only some of the information they need to make the right choices. Although there’s no shortage of online services that claim to compare insurance policies, you’d be hard pressed to find one that can truly demonstrate it’s built on a solid understanding of what consumers want.

“In recent years there has been a sea-change in the way people want to search for and buy their insurance and many of today’s consumers are looking for much more than just a cheap deal. Price will always be an important deciding factor, but, it’s no longer enough to provide comparison between products based on cost alone, as it may not reflect the levels of policy cover and overall service consumers actually need.

“With the launch of insurance.co.uk, we’re enabling consumers to make a truly informed choice based on the price, benefits and the level of service they are looking for.”

To help consumers manage their various insurance policies, insurance.co.uk also includes a unique online storage area - ‘my insurance’- in which basic policy information can be securely stored. The service is available to anyone who visits the site – not just those who use it to purchase insurance.

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