Confused.com Comparison Masterclass
25
master class Comparison
-
Upload
-chris-lewis- -
Category
Technology
-
view
281 -
download
0
Transcript of Confused.com Comparison Masterclass
master classComparison
Contents
1. 5.
12.
11.
7.
2.
3.
4.
10.
6.
14.
13.
8.
9.
Hands-up
The effect of errors
Purchase behaviour
Why use PCC’s?
Our process
Across products & seas
Behind the scenes
Vision, philosopy & concept
Key points re-cap
Process examples
Q & A
Our advised tool kit
35k times a day
Scale, accuracy & forensic
How do we get started?What are the challenges?
What is online comparison? How does it work?
What is online comparison?
How do we get started?
What are the main challenges?
How does it work? What is onlinecomparison?
Who has used a comparison service recently?
Yep
I have!
I used one last week!
Yes!
ME!
Yep!
ME!Yes!
Yep!
I have!
Internet
Offline
2/3rds of all car insurance premiums in 2012 were purchased via one of the main PC sites.
Roughly
*Graph data taken from Admiral annual reports
Price comparison
2012 car insurance purchases
Compared to five years ago...
Price comparison
Internet
Offline
that’s a paradigm shift from just a decade ago where premiums were almost exclusively bought via brokers or directly.
Only
Why do people use PCC’s?
TIME SAVING DETAILED
USER FRIENDLY
CLEAR
SIMPLE PROCESS
EASY CHOICE
HELPFUL
Control Convenience Price
A look at our car insurance process
Car insurance results
We give them access to dozens of quotes, with enough data to show you what services and extras each has.
It’s not static. All the prices are dependent on all the data we’ve captured so it’s totally tailored to the customer.
But more than that, it’s about allowing them to make an informed choice.
How does it work?
How do we get started?
What are the main challenges?
How does it work?
What is onlinecomparison?
Behind the scenes in 15 seconds!
Car details
Price & Options
Customer
Partners / Insurance providers
Driver details
Cover
Partner no.1 of 134
Rules
Only transmit data with special numbers for parts.
Don’t send data between 12 am and 6 am.
Throttle your service, don’t overwhelm me with data.
Use my way of naming levels of cover.
These are just 4 examples of 100’s of potential rules.
Language partner speaks:
Translation process
1.
3.
2.
4. This is translated into language that we can put into comparison results.
Each provider gets sent our data and makes a decision on what to quote – then the data is sent back, consolidated and displayed.
35,000 47,000CAR QUOTES A DAY
Possible combinations
What are the main challenges?
How do we get started?
What are the main challenges?
How does it work?
What is onlinecomparison?
How do we get What are the What is online
Challenges summary
1.
3.
5.
2.
4.
How do you make a system that’s easy for customers to use?
How do you make a system that’s as easy for partners to plug into?
How do you deal with all the potential complexity?
How do you deal with the potential for large scale?
How do you ensure that data returns in a timely fashion (under 15 seconds) given the above considerations?
It’s not just about scale Forensic about data
AccuracyScale
We cant just bombard them; fire quotes at the customer and forget about it – even on the scale of the operations we have. It’s about accuracy too. Accuracy is critical to our business.
We need to be forensic about our data.
My policy details for my car insurance are:
My policy details for my car insurance are:
Registration Number: VA04 HFDSelect the car make: Pegueot 206Fuel Type: Unleaded petrolThe car is worth: £1000The car has 5 seats, has no modifi cations, has a right hand drive and 1 conviction.My name is: John SmithI am 39, married and live in Liverpool.
Registration Number: VA04 HFDSelect the car make: Pegueot 206Fuel Type: Unleaded petrolThe car is worth: £1000The car has 5 seats, has no modifi cations, has a right hand drive, 1 conviction (actually has 3!).My name is: John SmithI am 39, married and live in Liverpool.
If customer who was involved in a bad accident, and who put through on our site that they had several claims and convictions but we missed a few out when we sent them to the insurer.
We’d be liable.
Consequences should errors occurWhat if our prices were not an accurate representation of what the provider quoted?
This could hurt our competitiveness if we consistently failed. This is proven to be a commercially viable model, and errors are therefore not acceptable.
Across products Across countries
How do we getstarted?
How do we get started?
What are the main challenges?
How does it work?
What is onlinecomparison?
How do we get What are the How does it What is online
Key points summed up
Easy to use Robust model Portable
It’s commercially viable because It’s easy for consumers to use and it’s easy for partners to plug into.
Our vision & philosophy
Saving customers time Saving customers money Keeping customers informed
Price comparison website in the uk!
Could this work in the public sector?
The union of your knowledge & our expertise.
Our advised tool kit
1.
3.
5.
2.
4.
6.
What information do you need to compare?
What do you need your users to achieve?
What technical considerations do you need to make?
What regulatory and audit requirements need to be considered?
Who are the key stakeholders for this project?
What does success look like?
Visit us at:
Come see us at stand number 10 in foyer BThis presentation & the speakers notes will be available to view and download from the Programme page of the
Social Care 2013 website following today’s conference (www.socialcarereform.co.uk)
www.confused.com
