Founded in Newport, Wales in 2006, GoCompare.com capitalised on the booming popularity of price comparison websites – they were a latecomer to the first raft of these sites which include CompareTheMarket.com, MoneySupermarket.com and Confused.com.
They pioneered the ability for users to sort products by the level of cover provided within a policy, rather than judging them solely on price (as would be done on any rival site at the time).
Currently, GoCompare.com boasts of its ability to source quotes for a number of different products, ranging from the full range of insurance quotes through to mobile phone, television and internet deals. The way in which the company turns a profit is through taking a small commission fee from products promoted on their website – something made viable by the high volumes of customers using the site as a platform for getting great deals online.
Some have criticised the ownership structure of GoCompare – their main shareholders, Esure, are one of the UK’s largest insurance providers. Critics have claimed that this structure ensures certain commercial advantages for Esure and its subsidiaries – however, this has been vigorously denied by both companies.
GoCompare have courted controversy in the past through selling on the personal data of their customers without consent, and have been blacklisted by search engine Google due website irregularities in the past. In 2010 they were also voted as having the most annoying advert in Britain, thanks to a campaign starring fictional tenor ‘Gio Compario’.