Online comparison portals have been around for a long time. But newcomers and new technologies are disrupting the industry.
Web-based product comparisons have been around for more than 20 years. Thousand of portals crossing all market sectors are in use throughout the world, and hundreds of these operate at a profit.
Moneysupermarket was one of the first online comparison portals. Based in the UK, which is home to numerous comparison websites, the company has grown into one of the most profitable comparison-based businesses.
Germany too hosts several of the most successful comparison websites in the world, including Check24 (established in 1999), Verivox (founded in 1998 and Biallo (in operation since 1999). Verivox launched comparison services in Switzerland in 2015.
The one thing traditional comparison sites (whether inside or outside of Switzerland) have in common, is that they let you compare a huge variety of products. Judging by combined worldwide gains, motor vehicle insurance is by far the «cash cow» of the comparison industry. But portals compare many other products including power supply, travel, telecoms services, real estate, automobile electronics and even coupons.
The comparison business model
Another thing most local and international comparison websites have in common is their business model. As a rule, the comparison tools can be used completely free of charge.
Merchants compensate the comparison portal on a per-click basis (as with Google, but without bidding), per lead (commission for every contact request) or per closed sale (such as a signed contract or successful online application).
Most portals also earn revenues for web advertisements (much like media portals). Typically, compensation follows a pay-per-impression model.
Issues with traditional comparison portals
Lack of transparency has earned comparison services in Switzerland and abroad a lot of flak, and in many cases that criticism isn’t unfounded. Some comparison platforms have become famous (or infamous) for their lack of neutrality and obvious bias.
On sites like these, the only products that make it onto comparison results are those for which the website receives a sizable kickback. That’s one reason why cheap online mortgages offered by lenders with a smaller marketing budget, for example, don’t show up on most Swiss mortgage comparisons.
Another issue is the absence of a clear formula which defines comparison results. Traditional comparison tools simply show the results which they have been programmed to show.
But without a process that calculates all product features, you may really be comparing apples with oranges. The product you go for may end up costing you more than the comparison would lead you to believe.
Bank and insurance products are generally complex, and comparison websites tend to over-simplify these products by taking only several key features into account.
Online comparison 2.0 - moneyland.ch
moneyland.ch is a leading Swiss financial comparison portal founded in 2013 with the goal of disrupting the comparison sector by taking a new approach to content and technology.
Unlike other comparison platforms, moneyland.ch is not a mix-and-match bazaar. Instead, the portal specializes in providing accurate comparisons of financial products, with a strong focus on banking and insurance products.
This specialized approach has proven to be a success: moneyland.ch has set new standards for the industry and is considered by experts to be the leading Swiss financial comparison portal in terms of quality.
What makes moneyland.ch better than other comparison sites?
Unlike other Swiss comparison websites, which are financed by commissions for product sales, moneyland.ch uses a business model based on online advertising and per-lead compensation.
Content delivered by moneyland.ch stands out for many reasons, including these key points:
- Technology: moneyland.ch uses proprietary technology which allows it to include a near-comprehensive list of products in comparisons. Over 2.5 million separate products are evaluated.
- Calculations: moneyland.ch uses intelligent algorithms which take all product features, including complex product and cost structures, into account to deliver accurate results. These algorithms allow the assessment of many finance and insurance products which have never been properly calculated before.
- New comparisons: moneyland.ch lets you compare products in Swiss financial sectors that have never before been available for interactive comparison and analysis. These sectors include bank packages, business accounts, checking accounts, stock trading, private banking and supplementary insurance coverage, to name a few.
- Evaluations: moneyland.ch regularly performs a number of thorough product evaluations which allow you to sort credit cards as well as travel, legal and supplementary insurance coverage using a broad range of criteria.
- Independence: complete neutrality and an unbiased approach to products are moneyland.ch cornerstones.
- Automated comparisons: With the launch of moneyguru, moneyland.ch has taken comparison to a whole new level, saving users time by automating comparisons.
From comparison site to decision engine
If experts’ opinions are anything to go by, providing thorough, independent financial or insurance consultation without the help of a computer is already near-impossible.
Independent comparison algorithms are already indispensable when selecting products that really and truly match a customer’s financial needs and expectations.
Consultations based on «gut feelings» or monetary compensation are rapidly becoming a thing of the past.
In the future, algorithms may well replace part of the consultation process altogether. Comparison portals of the future will not require that you manually find and compare products yourself unless you specifically want to. That’s what moneyland.ch gives you.
The shift here is from a search engine, where you find information yourself, to a «decision engine» which manages part of the decision making process for you based on your personal information and requests.