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Misleading Quotes - M&S and Halifax = Full nappies

Last post Fri, Oct 19 2007, 11:52 PM by RGB. 13 replies.
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  •  Fri, Oct 19 2007, 11:52 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Hi Ryvbk,

    I think MS has taken the necessary steps to prevent this now; and it's a lot more technical than before - although I would have agreed with you some time ago!!

    I'm also pretty sure that the ICOB 4.6.2 would not apply in this instance as this deals with the intermediary being renumerated by the insurer in form of commission. MoneySupermarket is not the intermediary arranging the insurance, but an intermediary (or aggregator) arranging the link between the customer and the intermediary. The commercial customer may ask the intermediary arranging the insurance, for the commission paid by the insurer to the intermediary, out of the premium payable by the customer.

    The only thing that MS would need to disclose by introduction is: name and address, status, details of fees (if any) that the customer will be charged for, for the service being provided (which there are none); and whether they are a member of the same group as the firm to whom the introduction is being made.

    • Post Points: 5
  •  Fri, Oct 19 2007, 11:34 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    As I have commented in the past - the fault is entirely MS - they make assumptions to try and provide the cheapest quotes hoping that you will click through to the insurance company from the site - and each click through earns them money WHETHER OR NOT YOU BUY A POLICY!

    If Moneysupermarket were honest they would explain how their business model works and their relationships with insurers so that customers would realise that they are not doing this out of the goodness of their hearts.

    As this will be read by MS I am making a formal enquiry as a prospective customer on the rates that you receive for each click through in accordance with Guidelines in  ICOB 4.6.2. Please post them on your website in an easily visible format.

     

    • Post Points: 20
  •  Thu, Oct 18 2007, 10:46 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    MoneySupermarket used to be dire for this, but seems to have had a kick up the 'arris and problem free now.

    There are, however, some instances where both insurer & aggregator need to look at the stringent mapping of data to see if something has slipped the net. M&S seems to be the only one from MS at the moment and I doubt very much either parties are trying to con people out of money - this simply wouldn't happen.

    As much as it is annoying and disheartening to be a told a price increases when visiting the insurer/intermediary, it's really not the end of the world and nothing has been lost! 

    • Post Points: 20
  •  Thu, Oct 18 2007, 9:26 AM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Hi All

    I've been away for a few days and have just come into this. We are looking into this here, but if you can provide any examples then please let myself or Graham know.

    I've not been made aware of any problems with both M&S and Halifax and also knowing the technical set up that went on in the background for these, coupled with the testing that we all carried out before it went up and live on the site I have to admit this somewhat surprises me. However we shall look into this and respond.

    Re the comments posted about printing off the page, we now have launched MyMoneysupermarket which will allow you to save your quote page and retrieve it at a later date, I hope that this service is beneficial to everyone.

    Kind Regards
    Peter
    • Post Points: 20
  •  Tue, Oct 16 2007, 1:53 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Thanks SHARK!

    PM sent...
    • Post Points: 20
  •  Tue, Oct 16 2007, 1:36 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Thanks Graeme for this.

    If you PM me (you still have the e-mail I hope!) I may be able to assist you further on this matter.

    SHARK! 

    • Post Points: 20
  •  Tue, Oct 16 2007, 1:33 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    We check the insurance comparison facility of all comparison sites regularly and we find that Moneysupermarket is the best overall site, taking into consideration quality of insurers/brokers, ease of use and accuracy.  No comparison site is 100% accurate for various reasons but we find that Moneysupermarket is probably over 90% accurate.  The comparisons should be used as an indicator of price, rather than gospel, particularly when offering the range and quality that Moneysupermarket do.

    We can understand your frustrations when, after being given a competitive quotation, you find that it's a lot more expensive when you go through to the actual insurer.  All comparison sites ought to be used as an indicator of price, rather than gospel, particularly when offering the range and good quality that Moneysupermarket do. 

     

     

    • Post Points: 5
  •  Tue, Oct 16 2007, 1:32 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Hi all. Many thanks for bringing this to my attention.

    First of all - and I apologise if this seems obvious - but can I just check that you are entering EXACTLY the same details at both the moneysupermarket.com site and after the click-thru?

    As SHARK! correctly points out - integrity is everything - and we take that extremely seriously at moneysupermarket.com. Indeed, we have just introduced a new set of questions on the car insurance quote form precisely to avoid this sort of discrepancy. Rest assured, we will clamp down on any suppliers found to be abusing the system.

    kizziedog - can you supply me with the URLs and/or details directly via email [below] and I'll pass this on to our Insurance team to look into.
    • Post Points: 20
  •  Tue, Oct 16 2007, 12:46 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    This is really getting to be annoying and actually is starting to undermine confidence in this site's actual ability.

    MS, come on - this needs to be sorted out. If you are promoting businesses that simply quote fake figures to attract business that subsequently turns out to be unfounded or simply a lie, you should raise this with the offending companies.

    Integrity is everything and if this practice continues everything you stand for is placed 'at risk' through the practices of those few who appear to be abusing the systems.

    SHARK! 

    • Post Points: 35
  •  Tue, Oct 16 2007, 12:14 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Absolutely correct.

    M&S quote per this site = £311

    M&S quote after going back into M&S site = £956

    If it wasn't for annoyance at the time I've wasted it would be a joke.

     

    • Post Points: 20
  •  Tue, Oct 16 2007, 11:26 AM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    Sorry steve79 your point is ...?

    SHARK!
     

    • Post Points: 5
  •  Tue, Oct 16 2007, 10:34 AM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    M&S and Halifax are asking you all the relevant questions not a bunch of best case assumptions.

    • Post Points: 20
  •  Mon, Oct 15 2007, 8:03 PM

    Re: Misleading Quotes - M&S and Halifax = Full nappies

    I raised this issue with MoneySupermarket earlier in the year and I thought it had been fixed - obviously not!

    I know the moderators and MS look at these posts and I hope that they take note. LloydsTSB did EXACTLY the same thing to me, quoting one thing on this site and when you went to buy it, you could never get the same figures. In the end I had to 'phone LTSB to get an answer and this caused even more hassle as 'phone queries do not get the discount of Internet ones. I pointed out that if they honoured the system that quoted me in the first place (and I thankfully printed it off to prove it) then I owuld not have been making the call in the second place! It took me three calls and progressive loss of temper before I finally got the price down, but never to the level advertised on this site. I will use MS for checking out likely levels in the future, bu will NOT be buying through them if this practice continues.

    SHARK! 

    • Post Points: 5
  •  Mon, Oct 15 2007, 2:44 PM

    Misleading Quotes - M&S and Halifax = Full nappies

    I would like to make everyone aware that Marks & Spencer and Halifax have, in my opinion, been very misleading in regards to click though quotes from this site.
    M&S automatically alter the details you have entered here, to push up the premium, and when you go for a re-quote it is much higher even though the details are exactly the same. Their "Contact Us" and "Complaints Procedure" do not work. I found the whole process extremely annoying and misleading to the point where I would like to take the matter further. M&S should stick to selling pudding. Imagine trying to claim through these amatures.
    Halifax are similar, their click though quote is much higher than moneysupermarket, even if you have your vechile in Fort Knox and promise it will never see daylight again. The worst thing about them is that their system only supports Internet Explorer as a browser, this should tell you that they are incompetant and out of touch. I would not insure a roll of toilet paper with these fools.
    A thumbs up to Liverpool Victoria, they appear to be the pick of the bunch. No BS and good straight forward systems.
    • Post Points: 50