u/pharmloverpharmlover

REGULATE THE INSURERS TO OPEN UP THEIR PRICING DATA FOR COMPARISON

The Federal Government needs to force these companies to standardise their policies and open-source their pricing data to encourage competition (similar to electricity and gas)

It’s not illegal to shop around, but currently scraping their backend to build independent price comparison tools violates their website terms of service and intellectual property.

With insurers merging and forming huge multinational conglomerates in recent years, nearly everything has become a white label product with very little actual competition

The current market is anticompetitive and deceptive.

Most consumers would not realise when shopping around that very often they are comparing brands from the same insurer - effectively the same policy sold with different coloured fonts

If we can’t overthrow the oligopoly, at least open it up!

Here’s my recent experience with

COMPREHENSIVE CAR INSURANCE

$820 AAI AAMI

$870 HLD Everyday Insurance

$920 HLD Huddle Insurance

$990 A&G Budget Direct

$1030 A&G ING

$1040 A&G Coles

$1060 PII PD

$1070 HLD Real Insurance

$1160 A&G Oceania Insurance

$1170 IAG Rollin Insurance

$1250 ALZ Australian Unity

$1270 HLD Commonwealth Bank

$1310 IAG RACV

$1380 AAI SunCorp

$1400 OUT YOUI

$1510 AAI Bingle

$1610 ALZ Allianz

$1720 QBE QBE

Use your time efficiently as there are only a handful of underwriters for car insurance in Australia

There are other white label insurers which are not worth listing - they cost more than ones already listed above for the same policy

Where available selected maximum excess and minimum agreed value if it reduced premiums

Driver details/history/driving habits, location, car make/model will have a big effect

Try to add a more experienced driver to the policy. Anecdotally older women with good driving records can reduce some premiums

“the Bloomberg Terminal has data that no-one else does…

like the number of days until your next divorce”

“Despite speculation that Deeming may also join One Nation, leader Pauline Hanson has expressed no interest in recruiting her.”