Too much publicity on website
comparing different mandatory car insurance policies can confuse
consumers, along with incorrect comparisons of different
products, Italian authority Ivass said on Monday.
Ivass - the authority overseeing insurance companies -
warned in particular against the lack of ''transparency and
fairness'' on a number of websites comparing different car
insurance policies and acting as intermediaries between
consumers and insurance companies, asking for changes by January
31 next year.
Among issues highlighted by the authority was the fact that
some of the sites publicize insurance firms in exchange for
payment.
The survey was carried out due to the growing popularity of
online services comparing and selling car insurance policies -
with a reported 12.9 million estimates made in 2013 by six
websites operating in Italy.
In particular, Ivass noted that ''websites only or mainly
compare products from a limited number of companies with which
they have signed a contract and through which they make a
percentage for every contract signed''.
It said the number of companies publicized is generally
higher than the firms whose products are effectively compared by
the online services and comparisons are based only on price,
without taking into account the different characteristics of
products.
As a consequence, different policies are often compared and
consumers aren't necessarily offered policies that suit their
needs, the authority said.
Moreover websites use promotional messages, misleading
consumers to think they can save significant amounts of money -
''up to 500 euros'' - and buy ''the best product'' or use ''the
best firm'', without outlining correct evaluation criteria for
policies and firms nor explaining how promised savings were
calculated.
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