Reasons for consumers to choose a PCW for motor insurance, 2023. Source: GlobalData’s 2023 UK Insurance Consumer Survey.

GlobalData findings suggest the new partnership between Moneysupermarket and Auto Trader will enhance the former’s competitive position within the UK insurance market. Under the new partnership, Auto Trader users can now compare insurance quotes for cars, vans, and bikes directly on the MoneySuperMarket platform.

MoneySuperMarket’s collaboration with Auto Trader stands to bolster its competitive edge by tapping into consumer preferences for convenience. As per GlobalData’s 2023 UK Insurance Consumer Survey, 13.2% of motor insurance customers chose a price comparison website (PCW) because they found it on a search engine. MoneySuperMarket stands to benefit from this trend by embedding its insurance quote comparisons directly into the Auto Trader platform, thus improving its online visibility and accessibility. When individuals search for vehicles on Auto Trader, they will now encounter MoneySuperMarket’s insurance comparison services. This seamless integration streamlines the consumer experience, enabling them to review insurance options while searching for vehicles, eliminating the need to visit multiple websites.

Moreover, 9.6% of motor insurance customers said they chose a particular PCW after seeing an advert for the service. The collaboration allows MoneySuperMarket to tap into the platform’s audience to promote its insurance comparison services. As users explore Auto Trader for cars, vans, or bikes, they may be presented with targeted advertisements or promotions for MoneySuperMarket, thus increasing brand recognition and directing traffic to its site.

GlobalData’s 2023 UK Insurance Consumer Survey also finds that among motor insurance customers who acquired policies through a PCW, 16.6% selected MoneySuperMarket. This figure surpasses the selection rates for Go.Compare at 16.0% and Confused.com at 12.1%. However, MoneySuperMarket trails behind Compare the Market, which leads with a significant 51.6% of customers opting for its service. Nonetheless, the partnership presents an opportunity for MoneySuperMarket to enhance its competitive position in the UK insurance market. By integrating insurance quote comparisons directly onto the Auto Trader platform, MoneySuperMarket can offer a seamless and convenient experience for customers, potentially challenging key competitors such as Compare the Market.

Overall, the partnership with Auto Trader will enhance MoneySuperMarket’s visibility, allowing consumers to more easily discover and access its services. This strategic move is poised to bolster MoneySuperMarket’s market presence, potentially strengthening its competitive edge against rivals such as Compare the Market.

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