Consumers given policy comparisons to help research
Policy comparison research firm Defaqto is to advertise its Star Ratings direct to consumers to help them choose “the level of cover they need based on their needs”.
The campaign will use illustrations to show that sometimes consumers need a basic option and sometimes extra features. Consumers can visit a campaign website (www.defaqto.com/stars) where they will be able to use a two-step tool to identify products suitable for their needs.
Consumer research
Urvashi Roe, Head of Marketing for Defaqto, said "Consumers spend a lot of time researching the features they need for products such as vacuum cleaners, fridges, TVs, phones, cookers etc. So why not financial products?
“Defaqto Star Ratings act as a visual guide to help people instantly see the level of features offered.
“Sometimes you just need the basic level of cover because that suits your current circumstances. There are times you need all the bells and whistles or something in between. That's what this campaign is provoking".
The six week outdoor campaign will feature on posters, taxis and buses across a number of key regions including London and the South East, Bristol, Leeds and Edinburgh.
Ratings are puff
In December Financial Services Ombudsman Reidy Flynn ruled that Defaqto five-star ratings are “puff” after NatWest travel insurance refused to refund ticket costs when a Zoom Airlines collapsed.
"I do not consider that there is any common agreement as to what the phrase means. In my judgment the term "five-star" has no specific meaning and amounts to nothing more than "puff"," wrote ombudsman Flynn.
