1. Executive Summary
1.1 Market changes driven by COVID-19 flag issues with the aggregator business model
1.2 Key findings
1.3 Critical success factors

2. Aggregator Market
2.1 Aggregators are an important channel for the distribution of insurance policies
2.2 PCWs experienced a slight decline in the distribution of policies in 2020
2.3 PCW market shares are driven by returning customers
2.4 PCWs are highly utilized as a pre-purchasing tool by consumers
2.5 Life insurance products experienced the biggest increase in conversion rates
2.6 Motor and home insurance saw the largest number of switchers through a PCW
2.7 FCA regulations on price walking will impact PCWs
2.8 Aggregators push for innovation
2.9 Tech providers challenge traditional aspects of the aggregator model
2.10 PCWs can further improve customer shopping experiences through API integration

3. Comparison Sites by Line of Business
3.1 Motor
- Confused.com offers the cheapest quotes for motor insurance
3.2 Home
3.3 Travel
- PCWs suspended the sale of travel insurance as a result of the COVID-19 pandemic
3.4 Pet
- The length of treatments drives the cost of policies for the four leading sites
3.5 Life products on PCWs
- Income protection
3.6 Term assurance
3.7 Term assurance and critical illness

4. Comparison Site Profiles
4.1 Compare the Market is the PCW of choice for personal insurance products
4.2 Consumers' choices were more divided for life insurance products
4.3 Compare the Market
- BGL Group's financial earnings are on the rise despite CMA fine
- Compare the Market's branding image
4.4 MoneySuperMarket
- MoneySuperMarket's revenue fell by 11% due to COVID-19
- MoneySuperMarket branding
4.5 Confused.com
- Admiral Group's COVID-19-related rebate initiative reduced turnover revenue by 4% for H1 2020
- Confused.com launched an Amazon Alexa feature
- Confused.com branding
4.6 GoCompare
- Despite the implications of COVID-19, GoCo Group reported positive financial earnings in 2020
- GoCompare branding

5. Marketing
5.1 All PCWs have a strong focus on television advertisements

6. Appendix
6.1 Abbreviations and acronyms
6.2 Definitions
- Home insurance
- Life insurance
- Pet insurance
6.3 Methodology
- GlobalData's UK Insurance Consumer Surveys
6.4 Secondary sources
6.5 Further reading
About GlobalData
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List of Figures
Figure 1: Despite the economic implications of COVID-19, consumers were more reluctant to purchase from a PCW in 2020
Figure 2: Most customers purchase through a PCW because they had used the site before
Figure 3: Traffic on PCWs is driven by consumers' pre-purchasing activity
Figure 4: Less than half of consumers who used a site for research made a purchase on a PCW
Figure 5: Switching rates increased across motor, home, and travel
Figure 6: More than half of all consumers who use PCWs at the end of the policy ended up switching their motor and home insurance provider
Figure 7: Consumers could be paying more on premiums, more on compulsory excesses, and have less benefits included depending on the site they use
Figure 8: GoCompare's promise to refund excess fees helped attracting more customers to the site in 2020
Figure 9: Implications of the COVID-19 pandemic are reflected on three of the four leading sites
Figure 10: Privilege offered the cheapest starting quote for two of the four sites
Figure 11: GoCompare's average combined home insurance policies dropped dramatically in 2021
Figure 12: Policies from Insure & Escape were the cheapest on three of the four sites
Figure 13: Price quotes for pet insurance are significantly different despite most brands being the same
Figure 14: GoCompare and MoneySuperMarket offered the same products at the same price
Figure 15: Specialized life insurance PCW Cavendish offers better prices than the big four
Figure 16: Confused.com offers the cheapest average premium for term assurance with critical illness cover
Figure 17: Choozi offers more price-competitive quotes for level term assurance with additional critical illness cover
Figure 18: Confused.com remains the biggest advertisement spender for the fifth year in a row
Figure 19: Compare the Market also dominates the life insurance PCW market
Figure 20: Confused.com remains the biggest advertisement spender for the third year in a row
Figure 21: PCWs have a heavy reliance on television advertisements to reach consumers

Companies Mentioned
- MoneySuperMarket
- Confused.com
- GoCompare
- Compare the Market
- BGL Group
- Admiral Group
- Competition and Markets Authority
- Financial Conduct Authority
- Insurethebox
- Saga
- LV=
- Quoteline Direct
- InsureandGo
- CoverWise
- Paws & Claws
- Purely Pets
- Perfect Pets
- Amazon
- Google
- Honcho
- weflip
- Hastings
- Bell
- Alpha
- Annual Travel
- Aventus
- Amazon
- Caura