{{Short description|UK price comparison website}} {{Use dmy dates|date=January 2018}} {{Use British English|date=June 2024}} {{infobox company | name = Compare the Market | logo = Compare The Market Logo 2024.svg | trade_name = | key_people = Mark Bailie (CEO) | type = Subsidiary | foundation = 2006 | founders = {{Ubl | Matthew Donaldson<ref>{{Cite web|first=James|last=Cowen|date=26 May 2023|title=Motor insurtech appoints Compare the Market founder as chairman|website=Insurance Times|url=https://www.insurancetimes.co.uk/news/motor-insurtech-appoints-compare-the-market-founder-as-chairman/1444677.article|access-date=30 March 2025|archive-url=https://web.archive.org/web/20250330101220/https://www.insurancetimes.co.uk/news/motor-insurtech-appoints-compare-the-market-founder-as-chairman/1444677.article|archive-date=30 March 2025|url-status=live}}</ref> | Peter Winslow<ref>{{Cite web|first=Jim|last=Armitage|date=26 January 2025|title=Simples! How Compare the Market left its rivals for dust|website=The Times|url=https://www.thetimes.com/business-money/companies/article/why-do-i-think-compare-the-market-is-beyond-compare-simples-690mcm959|access-date=30 March 2025|archive-url=https://web.archive.org/web/20250330095926/https://www.thetimes.com/business-money/companies/article/why-do-i-think-compare-the-market-is-beyond-compare-simples-690mcm959|archive-date=30 March 2025|url-access=subscription|url-status=live}}</ref> }} | location = [[Peterborough]]<br /> [[London]]<br />United Kingdom | industry = [[Finance and insurance]] | website = {{url|https://www.comparethemarket.com}} | parent = [[BGL Group]] }}
'''Compare the Market''' (stylised as '''compare'''the'''market''') is a UK [[price comparison service|price comparison]] website, founded in 2006, that is part of the [[BGL Group]]. The website also offers other online companies the ability to provide their customers with a co-branded or [[White-label product|white labelled]] comparison service.<ref name="BGL" />
In 2009, the company launched an advertising campaign featuring a series of [[meerkat]] characters (tied in with the supposed pronunciation of the word "market" in a [[Russian accent]]), after which it became one of the "Big Four" price comparison website in the UK.<ref name="BigFour">{{cite report |author=RS Consulting |date=2017-07-04 |title=Price comparison websites: consumer perceptions and experiences |publisher=[[Consumer Futures]] |quote-page=11 |quote="The four price comparison websites with the greatest market share. They are moneysupermarket.com, gocompare.com, comparethemarket.com and confused.com." |url=http://www.consumerfutures.org.uk/files/2013/07/Price-Comparison-Websites-Consumer-perceptions-and-experiences.pdf |archive-url=https://web.archive.org/web/20150923210322/http://www.consumerfutures.org.uk/files/2013/07/Price-Comparison-Websites-Consumer-perceptions-and-experiences.pdf |archive-date=23 September 2015 |access-date=2024-07-17 |url-status=bot: unknown }}</ref>
==History== The website was set up by Budget Group (now [[BGL Group]]) in early 2006,<ref name="IBM0506" /> following a decision to sell its high street business to [[Swinton Insurance|Swinton]].<ref name="IBM0906" />
In 2012, [[Compare the Market Australia|an Australian division]] of the company was launched, with its television advertisements also featuring the meerkat characters Aleksandr and Sergei. The ads themselves, however, differ from their British counterparts, with one such storyline revealing the meerkats had purchased the Australian site.
In 2017, it was announced the company was under investigation by the competition regulator surrounding allegations regarding most favoured nation clauses with home insurance providers.<ref name="The Guardian">{{cite web |url=https://www.theguardian.com/business/2017/sep/26/comparethemarket-investigated-alleged-deals-insurers |title=Comparethemarket.com investigated over alleged deals with insurers |author=Miles Brignall |work=The Guardian |date=26 September 2017}}</ref><ref name="Independent">{{cite web |url=https://www.independent.co.uk/news/business/news/comparethemarket-deals-insurers-push-up-prices-policy-insurance-cma-competition-markets-authority-a7968241.html |title=Comparethemarket.com reportedly under investigation over deals with insurers to push up policy prices |author=Ben Chapman |publisher=Independent |date=26 September 2017}}</ref><ref name="The Telegraph">{{cite web |url=https://www.telegraph.co.uk/news/2017/09/26/comparethemarketcom-investigation-competition-watchdogs-insurance/ |title=Comparethemarket.com under investigation by competition watchdogs over insurance pricing |author=Katie Morley |publisher=The Telegraph |date=26 September 2017}}</ref>
===Comparison products=== Comparethemarket allows customers to compare prices on a number of insurance products including car, home, van, life, pet, travel and over 50s insurance. It has also expanded into the comparison of other products that can be switched such as energy/utilities, broadband and digital TV, as well as a range of financial products such as loans, credit cards, current accounts and mortgages.
===Compare the Meerkat campaign===
[[File:AleksandrOrlovmeerkat.jpg|thumb|upright|The "Aleksandr Orlov" meerkat character used in the company's advertising since 2009.]] {{main|Compare the Meerkat}} On 5 January 2009, the company launched an advertising campaign featuring a [[computer-generated imagery|CGI]] [[meerkat]] character named "Aleksandr Orlov"<ref name="Digitalartsonline" /> who pleads with viewers looking for cheap car insurance to stop confusing his meerkat comparison website ''comparethemeerkat.com'' with ''comparethemarket.com'', due to the similarity between the words ''meerkat'' and ''market''. As part of the campaign, Comparethemeerkat.com was created which did indeed allow visitors to compare meerkats.<ref name="Hickman" />
On 26 November 2012, the website started sponsoring the long-running soap opera ''[[Coronation Street]]'' on [[ITV (TV network)|ITV]] in a three-year deal, costing around £30 million.<ref name="MW0712" />
===Other adverts=== In December 2012 another advert was launched this time featuring Maurice Wigglethorpe-Throom (played by [[Robert Webb]]) the founder of Compare the Market and his assistant Spencer who find out about Aleksandr (who makes a cameo appearance in a photograph) and Compare the Meerkat.<ref>{{Cite web |title=Comparethemarket updates Robert Webb campaign |url=https://www.campaignlive.co.uk/article/comparethemarket-updates-robert-webb-campaign/1173118?utm_source=website&utm_medium=social |access-date=2024-05-07 |website=www.campaignlive.co.uk |language=en}}</ref>
===Controversy=== In 2018, the BBC reported that the [[Competition and Markets Authority]] (CMA) found “most favoured nation” clauses in Comparethemarket's contracts with insurance companies which effectively banned them from selling their home insurance at cheaper prices on rival websites.<ref>{{Cite web|url=https://www.theguardian.com/business/2018/nov/02/comparethemarket-may-have-broken-competition-law-regulator-says|title = Comparethemarket may have broken competition law, regulator says|website = [[TheGuardian.com]]|date = 2 November 2018}}</ref> The CMA chief executive, [[Andrea Coscelli]], said: "Our investigation has provisionally found that Comparethemarket has broken the law by preventing home insurers from offering lower prices elsewhere. This could result in people paying higher premiums than they need to." In November 2020 Comparethemarket was fined £17.9 million by the CMA for breaking competition law as a result of their investigations.<ref>{{Cite news|url=https://www.ft.com/content/c829b83c-b89f-43e4-aa17-97d64e1ebea2|title=Compare the Market fined £17.9m for breach of competition law|newspaper=Financial Times|date=19 November 2020|last1=Clarfelt|first1=Harriet}}</ref><ref>{{Cite web|url=https://www.theguardian.com/business/2020/nov/19/comparethemarket-fined-179m-by-competition-watchdog?share=facebook|title = Comparethemarket fined £17.9m by competition watchdog|website = [[TheGuardian.com]]|date = 19 November 2020}}</ref>
== TV show sponsorship == {| class="wikitable" |+ !TV show !Duration !Notes |- |[[Coronation Street]] |2012-2020 | |}
== See also == * [[MoneySuperMarket]] * [[Confused.com]] * [[Uswitch]] * [[Go.Compare]]
== References == {{reflist|30em|refs= <ref name="IBM0506">{{cite web|url=http://www.highbeam.com/doc/1P3-1040551281.html|archive-url=https://web.archive.org/web/20160301095915/https://www.highbeam.com/doc/1P3-1040551281.html|url-status=dead|archive-date=1 March 2016|title=Another good year for Budget|publisher=Insurance Brokers' Monthly|access-date=|date=1 May 2006|last=Newman|first=Andrew}}</ref>
<ref name="IBM0906">{{cite web|url=http://www.highbeam.com/doc/1P3-1135652761.html|archive-url=https://web.archive.org/web/20160301100302/https://www.highbeam.com/doc/1P3-1135652761.html|url-status=dead|archive-date=1 March 2016|title=What's New?|publisher=Insurance Brokers' Monthly|access-date=|date=1 September 2006}}</ref>
<ref name="BGL">{{cite web|url=http://www.bglgroup.co.uk/about/brands/comparethemarket.php|title=Compare The Market|publisher=BGL Group|access-date=6 February 2012|archive-date=10 February 2012|archive-url=https://web.archive.org/web/20120210165143/http://www.bglgroup.co.uk/about/brands/comparethemarket.php|url-status=dead}}</ref>
<ref name="Digitalartsonline">{{cite web|url=http://www.digitalartsonline.co.uk/news/index.cfm?newsid=12010 |title=How Passion created Aleks the billionaire meerkat |publisher=Digitalartsonline.co.uk |access-date=2009-08-01 |archive-url=https://web.archive.org/web/20090625102112/http://www.digitalartsonline.co.uk/news/index.cfm?newsid=12010 |archive-date=25 June 2009 |url-status=live }}</ref>
<ref name="Hickman">{{cite news| url=https://www.independent.co.uk/arts-entertainment/books/news/the-simples-idea-that-became-a-16310m-empire-2119590.html | location=London | work=The Independent | first=Martin | last=Hickman | title=The 'Simples!' idea that became a £10m empire | date=29 October 2010}}</ref>
<ref name="MW0712">{{cite web|url=http://www.marketingweek.co.uk/news/comparethemarket-to-sponsor-corrie/4002695.article|title=Comparethemarket to sponsor Corrie|publisher=Marketing Week|access-date=2013-01-12|date=12 July 2012|last=O'Reilly|first=Lara}}</ref> }}
== External links == * {{official website|http://www.comparethemarket.com/}} * [http://www.comparethemarket.com/meerkat/movies/ Meerkat Movies] * [https://web.archive.org/web/20100811000645/http://www.bglgroup.co.uk/about/history.php BGL Group History] * [http://www.bglgroup.co.uk/pdf/resultsandreview09to10.pdf Result and review 2009 to 2010 - p11 ] {{Webarchive|url=https://web.archive.org/web/20110905125436/http://www.bglgroup.co.uk/pdf/resultsandreview09to10.pdf |date=5 September 2011 }} * [http://www.peterboroughtoday.co.uk/news/Meerkat-mania-was-born-in.5069558.jp Peterborough News "Meerkat mania was born in Peterborough"] {{Webarchive|url=https://web.archive.org/web/20090807125156/http://www.peterboroughtoday.co.uk/news/Meerkat-mania-was-born-in.5069558.jp |date=7 August 2009 }} * [http://www.comparethemarket.com.au/ Compare the Market Australian Site]
[[Category:Financial services companies established in 2008]] [[Category:Internet properties established in 2006]] [[Category:Companies based in Peterborough]] [[Category:Comparison shopping websites]] [[Category:2006 establishments in the United Kingdom]]