We have updated our Outsourced Provider Statement with a new section titled ‘Conflicts of Interests’. Like advisers, we must be transparent about where our revenue is generated and declare any interest conflicts.
We have included the update below. To access our complete Outsourced Provider Statement, sign on to Quotemonster and select ‘About’ from the dashboard.
Conflicts of Interest
We place a high value on our reputation for independence and the transparency of our research. In 2021 it is expected that we will receive revenue from between 150 and 200 organisations covering between 1,000 and 2,000 users of the service. The largest will contribute no more than 8.5% of our revenue. The top ten clients will contribute between 2.5% and 8.5% of revenue each. The revenue from insurers with current product offers rated in the system will be less than a quarter of our total, spread across the market. Because our revenue sources are diverse, we have no significant incentive to prefer one insurer over another – our research rating and process are transparent, so any perceived bias is quickly picked up by advisers and insurers and challenged.