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TotallyMoney accelerates customer savings with new car insurance service

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

About TotallyMoney

With a focus on the one in three UK adults financially under-served by the financial services industry, TotallyMoney is the credit app on a mission to help everyone move their finances forward.

TotallyMoney believes people’s financial data should work for them, and not against them and with more than four million customers, they provide the UK’s only free, live credit score and report.

Its service helps customers understand their financial position and provides personalised recommendations so they can start creating financial momentum. TotallyMoney also works closely with leading lenders, to ensure eligible customers are matched with the right products, underpinned by its robust data, product and tech capabilities.

TotallyMoney is regulated by the Financial Conduct Authority (FCA).

We're on a mission to help everyone move their finances forward and gain financial momentum.

TotallyMoney is an independent credit broker, not a lender. Our comparison service works with most leading lenders, covering the majority of the market. Though we may be paid a fee by lenders or brokers this never influences how our products are ranked.

We don't provide financial advice. Product information is obtained from independent sources and rates displayed may vary depending on your personal circumstances. While we make every effort to ensure that information is up to date, you should always confirm the terms of the offer with the product provider.

TotallyMoney is owned and operated by TotallyMoney Limited which is registered in England and Wales (Company Registration Number 06205695). TotallyMoney Limited is an Appointed Representative of TM Connect Limited, which is registered in England and Wales (Company Registration Number 06967012) and authorised and regulated by the Financial Conduct Authority in respect of consumer credit related activities (FCA FRN: 511936). Trading Address and Registered Office: Chapter House, 16 Brunswick Place, London N1 6DZ. Credit is available, subject to status, only to UK residents aged 18 or over.

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