The comparator Bank and insurance sites

Change the Bank or find a contract of automobile insurance adapted and at an attractive price is sometimes part of the challenge: how to easily get information and the rates charged by different banks or insurance company? Web sites offer to compare all offers to find the best and cheapest. But who are and how do they work?

The role of the comparators

Comparators sites allow to browse, compare and easy access to banking offers or insurance online.

Sites do not directly manage the proposed contracts. Their intermediary role to bring together the prospect with the Bank or the insurance company. Where appropriate, they present only offers unrelated to the company's site or, more frequently, they allow to directly access the website of the Bank or insurance selected to sign the contract offered by the establishment.

Economic ties

Comparators sites enter into partnerships with banks or insurance companies to reference their offer in their comparator. It's privileged partners when the comparison site is a subsidiary of groups of insurance companies from other sectors.
Comparators also act as a broker: they only have offers from their agent corporations. In fact, the user does not have access to all the existing offers but only those of the site's partners. The comparison of tenders deals only a small part of the market, unless the consumer is clearly warned.

The remuneration of the comparator

Access to the comparator and its results is free for the user.
The comparison site is remunerated, as intermediary, by partner companies.

The site receives a remuneration on the part of society each time in connection: either click to the referenced sites, or to the realization of the relationship (it's to say to the signing of the contract of insurance, at the opening of the bank account or other)

The collection of personal data

Comparators sites can also take advantage of the marketing of the personal data provided by users. Indeed, the results provided by these sites are conditioned to the provision of information which some are considered to be personal. In accordance with the law Informatique and Liberty of 1978, users have a right of access to data concerning them, as well as a right of modification, correction and deletion.

The Charter of the comparators sites

The Federation of e-commerce sales (FEVAD) and the secretariat of State in charge of foresight, evaluation of public policies and the development of the digital economy have promoted in 2008 the establishment by sites comparators signatories to a Charter on ethical commitments to ensure the transparency and relevance of the information presented to the consumer.

The Charter proposes provisions intended to apply to any type of comparator site, not only bank or insurance.

Among the recommendations are:

·         the accuracy of the lack of completeness of offers and that these come sites merchants partners,

·         regular updating of the tenders and the update information;

·         the explanation of the mode of ranking of the displayed results

·         the display of prices all taxes and all costs.

This Charter membership is optional. In August 2012, 10 sites were benefiting from the label, including a single comparator site of insurance products. .

Knowing decipher comparative offers

When you use a comparator site, be careful on some key points. First, learn about the number of beneficiaries covered by the comparison.

Use the comparator sites that do the analyses compared prices (tariffs banking, insurance...) and taking into account also guarantees and services proposed. The comparator site must clearly display the date of update information and rates used to perform the comparison. It must also explicitly mention the criteria for comparison utilises.