Go Compare eyes insurtech investment
Go Compare is looking to invest in start-up insurtech businesses to help the aggregator website reach new customers.
Investing in and working alongside disruptive and entrepreneurial start-ups will help the company access customers that switch car insurance, home insurance or energy provider infrequently or not at all, Go Compare CEO Matthew Crummack told Post.
Research by the aggregator found that only two in 10 consumers have bothered to switch car insurance, home insurance or energy provider in the last 12 months. The research found that of the eight consumers that didn’t switch, two have never switched and six out of 10 have switched infrequently.
Matthew said, ‘As we develop the business, the transformation work we’re doing helps us compete for those customers that switch every year but also provides a base for us to solve the problem of reaching the ‘never’ and the ‘sometimes’ switchers.’
He continued, ‘We’re looking externally at the innovation created by entrepreneurs in Fintech and Insurtech that are disrupting the way the market works. We’re looking at whether there are opportunities out there for us to work with and invest in those who can help us solve these problems.’