TotallyMoney accelerates customer savings with new car insurance service
ByFeb 11th 2021
Award-winning FinTech TotallyMoney is launching a brand-new car insurance service to help customers find their best deal, to help them save money and avoid the unjust price hike they often face when renewing their insurance.
- TotallyMoney’s new service addresses the £565 million lost every year when 14 million people loyal to their providers renew their insurance*
- Customers can now find cheaper car insurance policies through TotallyMoney, as well as getting an estimated quote in seconds, and setting renewal reminders to save again in the future
- The latest service launch follows on from 2020’s milestone year for TotallyMoney, which saw the FiTech launching multiple new verticals including its new energy-switching service, Energy Assistant and the exclusive app-first feature, Credit Assistant
TotallyMoney, the fast-expanding FinTech, is partnering with comparison specialists Seopa to deliver this newest offering to customers.
According to the Financial Conduct Authority, significant reform is needed in the car insurance market, insisting that loyal customers shouldn’t pay more than new customers.
TotallyMoney is challenging these unjust practices by giving customers the chance to find their best car insurance deal, the feature includes Instant Quote and Renewal Reminders, allowing individuals to see an estimate of how much they could save in seconds, as well as receiving notifications about when they can save again.
Fuelling customers with cheaper deals
With the re-launch of a car finance service this year, these two new features together accelerate TotallyMoney’s mission to help customers move on up to a better financial future, giving customers greater transparency about finding the best deals.
The new service aligns with TotallyMoney’s award-winning free credit report and score, as credit scores are one of the many factors considered for the 30% of people who opt to pay for their car insurance monthly.†
Alastair Douglas, CEO of TotallyMoney comments on the latest launch:
“With customers being punished for their loyalty, the car insurance industry can be seen as unfair.
“We wanted to stop this by giving customers a quick easy way to not only avoid price hikes, but to find their cheapest deal.
“On top of this, the renewal reminders mean people will never overpay, and not have to worry about remembering when it’s time to start looking for a better deal.
“After successfully re-launching our car finance service earlier this year, car insurance was the next logical step.
“With a third of customers paying monthly for their policies, credit scores play an important role when insurance providers run a credit check for this purpose. That’s why it’s great that customers can check their report with TotallyMoney before applying, to correct any errors and make sure it’s accurate.
“At TotallyMoney, we’re on a mission to move everyone up to a better financial future. The car insurance service is another way customers can do this, as we provide them with the essential, free tools to find cheaper deals.”
Greg Wilson, CEO of Seopa comments:
“We’re excited to be supporting TotallyMoney by providing their customers with a new car insurance comparison service. Our mission is to help the world find better deals - supporting TotallyMoney customers in their search for savings is yet another step forward along this journey. Our comparison technology allows TotallyMoney users to see a wide range of options, all in one place – enabling them to find the most comprehensive policies at the most competitive price.
“We’ve been working hand in hand with affinity partners for over 15 years and we feel the key to these relationships is empowering our partners to do what they do best, with our slick and efficient solutions providing additional value to their customers. As experts in comparison technology, we develop and host each unique solution, giving our partners the tools to maximise their potential.
“As well as our better-known systems such as car, home and the more specialist, bicycle insurance, we have established a wide range of solutions across other verticals. We are constantly evolving our products with the latest technologies. Our pioneering insurance estimator widget for example, now live on TotallyMoney, allows customers to see approximate costs instantly – a tool that can be applied across multiple niche markets and products.”
For more information, please contact the press team
- TotallyMoney is the credit app built to help people move forward and achieve their financial goals
- It’s the only credit app that provides customers with their live credit score for free
- Almost 4 million customers have already signed up to TotallyMoney, and its service is rated 4.6/5 on TrustPilot
- TotallyMoney is the UK’s 5th best financial services company to work for, with a 3 star accreditation that reflects ‘world class’ levels of workplace engagement