2025
9
UK Price Comparison Sites in Financial Services Market Report 2025
2025-11-19T10:01:27+00:00
REPEA15D0F4_B2A1_469D_8D34_CADF488320A7
2195
188702
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Report
en_GB
67% of UK adults have used a price comparison website to search for insurance policies in the last year. Price comparison has gone beyond a convenient hack for finding products,…
UK
Financial Services
simple

UK Price Comparison Sites in Financial Services Market Report 2025

"PCWs have benefited from an increase in shopping around as insurance premiums have risen. Looking ahead, AI poses both opportunities and challenges for aggregators."

Rich Shepherd, Category Director - Financial Services and Social Research

Rich Shepherd, Category Director - Financial Services and Social Research

UK Price Comparison Websites Industry – Trends and Insights

  • 67% of UK adults have used a price comparison website (PCW) to search for insurance policies in the last year. Price comparison has gone beyond a convenient hack for finding products, and is now a standard part of the customer journey.
  • Consumers not only see the benefits of using PCWs, but also expect to be rewarded with additional perks. 69% of PCW users are more likely to use a site that offers rewards, such as vouchers and discounts, than one that doesn’t.
  • Surging insurance premiums have fuelled demand for aggregation. This has boosted revenues among leading sites, with Compare the Market and Go.Compare recording the highest revenue growth among the big four, up by 21% and 28% in 2024, respectively. The big four dominate the market, making it difficult for new challengers to break through.
  • AI represents both the biggest challenge to and opportunity for PCWs. While emerging agentic AI offers the potential that consumers will bypass traditional PCWs, incumbent brands are well-placed to act as the host for such tools, benefiting from their heritage and trusted reputations.

Key Issues Covered in the Report

  • Rising premiums in motor and home insurance have maintained strong demand for price comparison in core markets
  • Elevated credit and savings interest rates have expanded opportunities for price comparison in money products
  • Analysis of PCW market share and the dominance of the big four brands
  • Consumer satisfaction with PCWs is very high, but perks remain essential factors in choosing a site
  • AI-powered, agentic search tools are both the biggest disruptive threat and the next major innovation opportunity for PCWs
  • Advertising, particularly TV advertising, is key for PCWs to maintain brand recognition
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  1. EXECUTIVE SUMMARY

    • What you need to know
    • Outlook for Price Comparison Sites in Financial Services
    • Opportunities
    • Innovate with AI now, before others move in
    • Personalised perks will increase resonance among older groups
    • Learning hubs can prompt more-frequent engagement
  2. THE MARKET

    • Rising inflation has knocked financial wellbeing, increasing demand for price comparison
    • Core PCW products have recently experienced large price rises
    • Graph 1: selected average annual general insurance premiums, by product line, Q1 2021-Q2 2025
    • Price is the key purchase driver across general insurance
    • Elevated interest rates offer greater opportunities for aggregation in money products
    • Graph 2: average quoted household rates for consumer credit products, 2018-25
    • Graph 3: average quoted household interest rates for selected savings products, 2018-25
    • Compare the Market leads as the big four aggregators hold a firm grip on the market
    • Graph 4: price comparison websites used to compare/obtain quotes in the last 12 months, 2025
    • Compare the Market is winning at keeping customers loyal
    • Graph 5: number of price comparison websites used to compare/obtain quotes in the last 12 months, by site used most often, 2025
    • A challenging consumer environment has fuelled revenue growth
    • Graph 6: market share of big four price comparison websites, by revenue, 2023-24
  3. THE CONSUMER

    • Use of price comparison websites in insurance
    • Use of PCWs in insurance is a standard part of the customer journey
    • Keep messaging centred on core products
    • Graph 7: any use of price comparison websites to search for insurance products (in the last 12 months or previously), 2025
    • Re-engage with lapsed customers to maximise use
    • Graph 8: use of price comparison websites to search for selected insurance products, 2025
    • Educate consumers to exploit growth in overseas travel
    • Use of price comparison websites in retail banking
    • Retail banking products lag behind insurance, but represent potential for PCW expansion
    • Tap into Gen Z’s desire to take control of their finances
    • PCWs can be a trusted guide to car finance in a post-scandal environment
    • Current accounts offer opportunities to show off personalised search results
    • Satisfaction with price comparison websites
    • Strong satisfaction can make it difficult for PCWs to take business away from competitors
    • Innovation will be led by brands, not consumer demand
    • Make perks more relevant for older groups to increase engagement
    • Graph 9: satisfaction with benefits/perks earned for using price comparison websites, 2025
    • Overall satisfaction with PCWs is impressively high
    • Strive for maximum satisfaction to ensure repeat use
    • Graph 10: likelihood to use a price comparison website to search for financial services products in the next 12 months, by overall satisfaction with the comparison website used most often in the last 12 months, 2025
    • High trust underlines overall satisfaction
    • Engaging consumers in price comparison
    • PCWs struggle to engage users outside their renewal periods
    • Perks are essential value-boosters
    • Specialists can find a niche in underserved product lines
    • Graph 11: agreement with the statement “I would prefer to use a comparison website that specialised in a particular area than one that offers a large range of products”, by insurance products searched for on PCWs, 2025
    • AI innovation and price comparison sites
    • AI represents both the biggest opportunity and threat for PCWs
    • Move on AI now, but make it optional
    • Graph 12: response to the statement “I would be interested in a comparison service that uses AI to both find and arrange financial services products for me”, by age, 2025
    • Be transparent to reaffirm trust perceptions amid technological change
  4. INNOVATION AND MARKETING

    • Big four take distinct approaches to benefits
    • Adspend remains subdued, but TV spots are still essential in PCW brand building
    • Graph 13: total above-the-line, online display and direct mail advertising expenditure on price comparison sites, by media type, 2020/21-2024/25
    • Ads focus on mascots and rewards
    • The big four PCWs compete closely on advertising
    • Graph 14: percentage share of total above-the-line, online display and direct mail advertising expenditure on price comparison sites, by brand, 2024/25
  5. APPENDIX

    • Market definition
    • Supplementary data
    • Adspend by brand
    • Adspend by media type
    • The consumer
    • Consumer research questions
    • Consumer research methodology
    • Repertoire analysis methodology
    • UK generation groups
    • Other data source methodologies
    • Nielsen Ad Intel coverage

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