Aggregator plans to expand app into other lines
Moneysupermarket is set to steal a march on its rivals by launching a motor insurance app on the iPhone.
If the app takes off, it could herald a new era of insurers using smartphones to rake in millions in extra premium.
The app lets drivers buy and renew car insurance, and is set to launch next week.
It is the first of its type in the UK, according to a Moneysupermarket spokesman.
All the motor policies and insurers currently on Moneysupermarket will be available through the app.
Moneysupermarket wants to expand the app beyond motor into other lines, a spokesman said.
“It’s going to help our consumers get car insurance any time, anywhere,” the spokesman said.
One benefit for an aggregator selling insurance through a smartphone app is improved retention.
Drivers buying motor insurance online commonly switch between aggregators and insurers at renewal, but consumers are unlikely to want to download several different apps for each aggregator for a purchase generally made once a year.
The aggregator is waiting for Apple to officially approve the app. It would be free and available through the iTunes store.