Revolutionising the Insurance Industry
British company MoneySupermarket.com has just launched a brand new app which it claims will revolutionise the insurance industry. Developed by awarding winning digital technology company Mobile Interactive Group (MIG), the app compares car insurance deals which are available through over 100 car insurance companies in a matter of moments; meaning that consumers can now find cheaper deals faster than ever before, even when they are on the move.
Available to all iPod touch, iPhone and iPad owners; the app has won over critics in the UK who have praised its ease of use and the low cost results which it returns. This led to it winning The Guardian’s consumer app of the week award upon its launch.
How does the MS car insurance app work?
The app is currently available for download free of charge either from iTunes or the MoneySupermarket.com car insurance website. In order to utilise the app, users must create a MoneySupermarket user account where you will be asked to reveal things about yourself such as your occupation, age and gender; basically anything which is relevant in the calculation of car insurance premiums. This is perhaps the most arduous part of the process, but the advantage of creating such an account is that it only needs to be done once; saving users time and effort on subsequent occasions.
The effort required to enter information about specific vehicles has also been addressed; with the app having a very clever little feature where users need simply take a photograph of a vehicle’s registration plate number. The app will then retrieve the information which is stored in association with that vehicle in the DVLA (Driver and Vehicle Licensing Agency) database in the UK. This not only makes this onerous process a lot easier and faster for users; but also reduces the possibility of input errors.
Once the required information about the individual and the vehicle has been entered, the app will then retrieve quotes available through all of the car insurance companies that are featured on the MoneySupermarket website; totalling over 100 in all. Each of these quotes will have a click to call button located alongside them which app users can utilise in order to contact individual providers in order to make enquiries about the content of the actual policy or potentially arrange for the policy to be put in place.
Setting the standard
MoneySupermarket’s Julie Fisher has hailed the app as the beginning of a new era for the insurance industry; commenting that she expects other price comparison companies to release similar apps in the near future which take advantage of the burgeoning app market and the apparent desire of consumers to conduct this type of activity while on the go. Indeed, the company’s competitor Confused.com is now believed to be working on a similar device.
It is of course possible that the company will launch apps for other areas of insurance in the near future, with home and travel both likely to be prime targets to go mobile. MoneySupermarket also did not rule out bring out a version of the app which would work on android phones.
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