We’ve made a decision to not use comparison sites or aggregators to distribute the Wrisk offering. We’ve done this for a number of reasons.
Apples and oranges
The Wrisk macroinsurance model is not a natural fit for comparison sites. We will ultimately bring different disconnected policies together into one plan where the whole is more than the sum of its parts. By contrast, comparison sites are modelled around siloed product lines which do not cross boundaries.
The wrong mindset
We find that comparison sites tend to promote a race-to-the-bottom mentality. Comparison sites make you ask “Which insurer is cheapest?”, without ever asking why there is such a massive variation in price (often hundreds of pounds) between “comparable” options.
With Wrisk we try to change this conversation to “What is it about me that makes me more or less risky and what can I do about it?” Because we know more about you, we offer better security and cover that is better value.
A comparison site means losing control of the question & answer experience that makes Wrisk special. Our way of looking at data is just plain different to most other insurers. We are trying to build something which is fluid, beautiful and very different from the painful big-up-front disclosure experiences offered by traditional providers.
Counterintuitive I know. But what comparison-sites often don’t make obvious is that they charge insurers a hefty fee to be listed on them. Every time someone buys a policy through a comparison site, the insurer pays the comparison site for the privilege (sometimes up to £50). By not participating, we avoid those fees and can pass those savings on to our customers.
How do Wrisk’s prices compare?
Wrisk’s pricing approach is simple, personal and transparent. We tailor each quote to the individual and provide a full breakdown as part of your Wrisk Score.
By way of comparison to the wider market, the average home has contents worth £35,000 and a contents insurance policy costs on average £141 a year.