UK based insurance quotation comparison web portal Comparethemarket.com has unveiled a new 'speed rating' feature for its life insurance service, which will enable customers to check how quickly individual insurers can set up a policy.
According to the service provider, the new offering empowers consumers by providing reliable price comparison for their insurance policies according to their needs, thus enabling consumers to make informed decision.
Each insurer received a rating between 1 and 5 from the speed rating, with 5 being the fastest, so that customers can know how fast each given insurer can set up a policy after receiving the life insurance application.
Comparethemarket.com director Andrew Stocks said that the company understands that speed of policy set up can be very important to some life insurance customers.
"With our new speed ratings, we’re putting customers in control and giving them the information they need, helping them to find the right insurer and policy that best suits their needs," Stocks said.
Comparethemarket.com assists customers to find the right deal on a wide range of insurance and financial products such as car insurance, home insurance, van insurance, bike insurance, pet insurance, credit cards and loans.