iSelect is an Australian based company that focuses on providing the average consumer with comparisons and alternatives about insurance policies, energy plans, and personal financing. Founded in 2000, the company grew from health insurance for cosmetic surgery intermediary to a company offering wide insurance policies including life and motor insurance. A huge percent of its revenue is attributed to selling health insurance policies. Thus, it is safe to say that this is their stronghold.
iSelect is not a big insurance company’s subsidiary. It is independently owned. As a result, consumers don’t have to worry about comparisons offered based on ties with insurance firms. This has enabled iSelect to offer a unique perspective when dealing with some of Australia’s biggest brands. With a team of about 500 expert advisers, delivering expert opinions to customers regarding loan refinancing and insurance policies is one of the company’s strongholds.
From a customer standpoint, the company offers great insight regarding insurance policies including health, car and life, personal financing options such as loans and refinancing. The main aim of iSelect is to help the customer understand these options. With all the information available out there, it is easy to get confused. However, iSelect makes this process easy for customers.
It has not all been good. The company has recently come under fire with sources suggesting that iSelect has not been completely honest in its approach to insurance comparisons. According to the ACCC (Australian Competition and Consumer Commission), the company has not been giving sufficient information to consumers, especially those using iSelect’s website, regarding the best available plans. According to them, they have been suggesting plans based on commercial agreements with other firms.
Nonetheless, the company is a great and convenient way for Australians to understand insurance policies, energy plans, and personal financing. They help consumers make informed decisions which ultimately make their lives better.