Broker launches motor insurance comparison site

Lloyds TSB has become the first high street bank to launch an insurance aggregator website, as predicted in last week's Insurance Times.

The site, insurance.co.uk, will initially offer motor insurance, with a panel of over 35 brands. It may be extended to other product lines in future, such as pet, travel and SME insurance.

Lloyds TSB said the site would offer the most comprehensive search of any comparison service in the market. In addition to information about price and policy features, it will contain an independent review of the service offered by the policy providers. Customer feedback will also be included.

Phil Loney, Lloyds TSB managing director said: “We want to underline the independence of the site. We plan to publish statistics to show which providers are most competitive.

“We want to give customers as much choice as possible.”