Price comparison impacting consumer understanding

BIBA, ABI and Fairer Finance

Cameron Roberts
clock • 2 min read

Price comparison sites are impacting consumers’ ability to understand what products they are buying and may be widening the protection gap, according to representatives from The Association of British Insurers (ABI) and British Insurance Brokers' Association (BIBA).

Speaking at a Parliamentary Committee meeting held by the Financial Services Regulation Committee, both associations were asked to provide oral evidence regarding the regulation of the consumer insurance market. Price took centre stage for much of the discussion, with both representatives believing consumer insurance focuses too much on cost over product suitability. Graham Trudgill, CEO, BIBA, said: "Currently, we believe there is too much focus on price as opposed to the suitability of the insurance for that specific customer's needs, and this is evidenced, I think, by firms being c...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

FCA: Pure Protection Market Study does not give industry 'a clean bill of health'

FCA: Pure Protection Market Study does not give industry 'a clean bill of health'

Firms must still demonstrate fair value

Jaskeet Briah
clock 11 November 2026 • 2 min read
Budget 26: The protection and health impact

Budget 26: The protection and health impact

Protection industry reflects on missed opportunities

Cameron Roberts
clock 30 October 2026 • 5 min read
Is failing to protect a client's income an oversight or neglect?

Is failing to protect a client's income an oversight or neglect?

What happens to your financial plan if your ability to earn reduces or stops?

Kevin Carr
clock 29 October 2026 • 3 min read