The rise of the internet and increasing broadband access are transforming the way UK consumers conduct and manage their finances. A growing proportion of them are browsing and buying products, such as motor and home insurance, credit cards, loans and savings accounts, over the web. Aggregators have both responded to and helped drive this trend. Their price comparison sites endeavour to help consumers save time and money in their search for the best deals.

Although these sites are becoming more popular with both consumers and providers alike, not all financial companies are happy about their growing influence. For example, some insurers refuse to be listed on price comparison sites and have even run PR campaigns to dissuade people from using them. Aggregators also face a number of key challenges, including greater regulatory focus, rising competition, the growing expense of buying search-engine traffic and a deteriorating economic climate. Despite these challenges, the leading industry players remain confident of their prospects and their ability to innovate and adapt to changing customer needs.

This report provides a unique insight into the fast-growing financial aggregator market, drawing on the opinions of industry experts and a range of information and data sources, including Mintel’s own consumer survey findings.

Main report themes:

Who are the leading aggregator brands and how well are they performing?

What benefits do they bring to insurers/financial services providers, brokers and other intermediaries?

What social, technological, regulatory and environmental factors are driving change in the market?

What new opportunities and challenges lie ahead?

What proportion of UK adults have used an aggregator to search for/compare and buy a financial product?

Which products are most frequently searched for on price comparison sites and which are most commonly bought online?

What do consumers think of these sites? Do they like them? Do they trust them?

What are the future prospects for this market?