Defaqto: 3/5 stars
Policy Expert car insurance is rated as three stars by Defaqto, an independent financial research company.
Note: Not all Defaqto products with the same star ratings have the same covers and terms.
Policy Expert is a member of the QMetric Group and was established in 2011 as a new kind of insurance business that aimed to build its own tech and own the insurance process end to end so that they could offer lower prices for customers.
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Policy Expert was among the first UK insurers to introduce two-year fixed-rate premiums, as well as Plain English accredited policies with no hidden fees.
It has since won numerous awards for its service and products as well as recently winning Best Personal Insurance Broker at the 2020 Insurance Choice Awards, which is voted for by customers.
Whilst Policy Expert compares quotes from a number of different insurers, it also has its own products.
if you want a two-year fixed premium
if you want a high-rating insurance company
if you want no hidden fees
Policy Expert co-founder and chief operating officer Adam Powell was recently interviewed in Insurance Business magazine on loyalty penalty. He stressed that while getting pricing right for loyal customers is important, it is also crucial to ensure that price does not become the sole focus of the conversation.
He said that the company’s data infrastructure is built for scale and speed to enable real-time reporting without the burden of legacy technology.
“Our ability to understand and interpret it sets us apart from competitors,” he claimed. “We have the proprietary systems and skills to analyse trends in customer behaviour and market activity without the restrictions of outdated systems or third-party dependencies.
“We’ve created a fully integrated ecosystem that provides a ‘single customer view’ from acquisition through to claims. We’re able to generate insights which many established insurers simply aren’t equipped to handle, to inform our risk and pricing strategies and also ensure our policies are the right fit for customer needs.”