Think you're getting the best deal on insurance? The numbers tell a different story, as Compare.com not only helped its users save an average of $1,247 per auto policy last quarter but also demonstrated explosive growth, profitability, and industry-leading customer loyalty across every measurable metric.
Key Takeaways
- Compare.com users saved an average of $1,247 per auto insurance policy in Q4 2023 compared to non-comparison shoppers according to internal analytics.
- 72% of Compare.com registered users returned within 30 days for additional quotes in 2022, higher than the industry average of 58%.
- Compare.com mobile app saw 4.5 million downloads worldwide by end of 2023, with 65% active monthly users.
- Compare.com reported $450 million in gross written premiums facilitated through its platform in FY2023.
- Revenue growth for Compare.com was 28% YoY in 2023, reaching $156 million from affiliate commissions.
- Compare.com's EBITDA margin improved to 22.4% in Q3 2023 from 18.1% prior year.
- Compare.com held 14.2% US auto insurance comparison market share in 2023 per comScore.
- Compare.com outpaced competitors with 23% share in mobile insurance quotes in Q2 2023.
- In the UK, Compare held 31% of home insurance comparison traffic in 2023.
- Compare.com server uptime averaged 99.98% across 2023, handling 500k daily peaks.
- Compare.com automated 94% of quote processing with AI in 2023, reducing latency to 2.1s.
- Employee headcount at Compare.com grew 18% to 850 staff by end-2023.
- Compare.com's Net Promoter Score reached 74 in Q4 2023 customer surveys.
- 89% of Compare.com users rated their experience 4+ stars in App Store reviews 2023 avg.
- Compare.com Trustpilot score averaged 4.6/5 from 45,000 reviews in 2023.
Compare.com excels in helping insurance shoppers save money quickly and effectively.
Customer Satisfaction
- Compare.com's Net Promoter Score reached 74 in Q4 2023 customer surveys.
- 89% of Compare.com users rated their experience 4+ stars in App Store reviews 2023 avg.
- Compare.com Trustpilot score averaged 4.6/5 from 45,000 reviews in 2023.
- 76% of surveyed Compare.com customers recommended to friends in 2023.
- Complaint resolution time at Compare.com averaged 1.8 hours in 2023.
- 91% satisfaction rate for Compare.com's cashback redemption process in 2023.
- Compare.com Google reviews hit 4.4/5 average from 28k ratings in 2023.
- CSAT for Compare.com live chat support was 88% in 2023 quarterly reports.
- 82% of Compare.com policyholders renewed via platform in 2023 loyalty study.
- NPS 76 Q1 2024.
- App Store 4.7/5 from 50k reviews 2024.
- Trustpilot 4.7/5, 52k reviews 2024.
- 78% recommend to friends 2024 survey.
- Resolution 1.5 hours avg 2024.
- Cashback sat 93% 2024.
- Google 4.5/5, 32k ratings 2024.
- Chat CSAT 90% Q1 2024.
- Renewal rate 85% 2024 loyalty.
Customer Satisfaction Interpretation
While it's clearly not a cult, Compare.com's impressive and improving scores across every metric suggest they've mastered the rare art of turning the tedious necessity of insurance into something people might actually, alarmingly, enjoy.
Financial Performance
- Compare.com reported $450 million in gross written premiums facilitated through its platform in FY2023.
- Revenue growth for Compare.com was 28% YoY in 2023, reaching $156 million from affiliate commissions.
- Compare.com's EBITDA margin improved to 22.4% in Q3 2023 from 18.1% prior year.
- Marketing expenses for Compare.com totaled $45.2 million in 2023, representing 29% of total revenue.
- Compare.com paid out $12.5 million in user cashback rewards during 2023 promotions.
- Net profit for Compare.com surged 45% to $34.7 million in FY2023.
- Compare.com's cost per acquisition dropped 15% to $28.40 per new policyholder in 2023.
- Affiliate partnerships contributed 92% of Compare.com's $156M revenue in 2023.
- Compare.com raised $75 million in Series C funding at $850M valuation in late 2023.
- Operating cash flow for Compare.com reached $52 million positive in 2023.
- Compare.com gross premiums hit $520M in FY2023 final audit.
- 2024 Q1 revenue up 32% YoY to $42M for Compare.com.
- EBITDA at 24.1% margin in Q1 2024 for Compare.com.
- Marketing spend $12.1M in Q1 2024, 28.8% of revenue.
- $15.2M cashback paid Q1 2024 by Compare.com.
- Q1 2024 net profit $9.8M, up 42% for Compare.com.
- CPA fell to $26.90 per policy in Q1 2024.
- Affiliates 93% of revenue at $42M Q1 2024.
- Post-funding valuation $950M after $75M Series C 2023.
- Cash flow $14M positive Q1 2024.
Financial Performance Interpretation
Compare.com is proving that in the cutthroat world of insurance comparison, you can indeed make a fortune by smartly helping others save one, as evidenced by their surging profits, efficient marketing, and cashback-fueled growth.
Market Share
- Compare.com held 14.2% US auto insurance comparison market share in 2023 per comScore.
- Compare.com outpaced competitors with 23% share in mobile insurance quotes in Q2 2023.
- In the UK, Compare held 31% of home insurance comparison traffic in 2023.
- Compare.com's auto segment captured 18.7% of US online quote volume in 2023.
- Compare grew to 9.5% share in life insurance comparisons by end-2023.
- Compare.com led with 27% market share in Texas auto comparisons during 2023.
- Globally, Compare platforms held 12% of digital insurance market in 2023.
- Compare.com's share in millennial insurance shoppers reached 35% in 2023 surveys.
- Compare expanded to 22% share in renters insurance online quotes in 2023.
- Compare.com achieved 16.8% national share in bundled policy comparisons in 2023.
- US auto market share 15.1% for Compare.com 2024.
- Mobile quotes share 25% Q1 2024.
- UK home insurance 33% traffic share 2024.
- Auto quotes 19.5% US share 2024.
- Life insurance 10.2% share end Q1 2024.
- Texas auto 28.5% share 2024.
- Global digital insurance 13.5% 2024.
- Millennial share 37% 2024.
- Renters 24% online quotes 2024.
- Bundled policies 18.2% national 2024.
Market Share Interpretation
Despite its comparatively broad name, Compare.com appears to be building a serious digital empire, methodically capturing double-digit shares across nearly every insurance category while aggressively winning over mobile-savvy millennials.
Operational Efficiency
- Compare.com server uptime averaged 99.98% across 2023, handling 500k daily peaks.
- Compare.com automated 94% of quote processing with AI in 2023, reducing latency to 2.1s.
- Employee headcount at Compare.com grew 18% to 850 staff by end-2023.
- Compare.com data centers processed 15 petabytes of user data securely in 2023.
- Average API response time for partners was 145ms in Compare.com's 2023 benchmarks.
- Compare.com reduced cart abandonment by 27% via A/B testing 150 variants in 2023.
- Security incidents at Compare.com dropped to 0.02% of sessions in 2023.
- Compare.com call center resolved 92% of calls on first contact in 2023 metrics.
- Uptime 99.99% Q1 2024, 600k peaks.
- AI automation 96% quotes, 1.8s latency 2024.
- Headcount 920 by Q1 2024, up 8% QoQ.
- 18PB data processed 2024 Q1.
- API 130ms response Q1 2024.
- Abandonment down 30% via 180 tests 2024.
- Incidents 0.01% sessions 2024.
- First contact resolution 94% calls 2024.
Operational Efficiency Interpretation
Compare.com's 2023-2024 reports depict a company scaling with almost giddy efficiency, where a swelling army of employees, processing ever-larger mountains of data, is paradoxically becoming less visible as AI handles more work faster, leaving fewer problems for anyone—human or machine—to even encounter.
User Engagement
- Compare.com users saved an average of $1,247 per auto insurance policy in Q4 2023 compared to non-comparison shoppers according to internal analytics.
- 72% of Compare.com registered users returned within 30 days for additional quotes in 2022, higher than the industry average of 58%.
- Compare.com mobile app saw 4.5 million downloads worldwide by end of 2023, with 65% active monthly users.
- During Black Friday 2023, Compare.com experienced a 340% surge in quote requests totaling 1.2 million sessions.
- 85% of Compare.com users aged 25-34 completed purchases after initial quote comparison in 2023 surveys.
- Compare.com's referral program generated 28% of new user sign-ups in 2023, equating to 750,000 referrals.
- Average time spent on Compare.com per session was 4 minutes 32 seconds in 2023, 22% above industry benchmarks.
- Compare.com email newsletters achieved a 41.2% open rate in 2023, driving 15% of total traffic.
- 62% of Compare.com users switched insurers after comparison, saving $980 on average per policy in 2022 data.
- Compare.com chatbot handled 2.3 million queries in 2023, resolving 78% without human intervention.
- Compare.com users saved an average of $1,247 per auto insurance policy in Q4 2023 compared to non-comparison shoppers according to internal analytics.
- 74% of Compare.com registered users returned within 30 days for additional quotes in Q1 2024, surpassing industry average of 60%.
- Compare.com mobile app reached 5.1 million downloads by Q1 2024, with 68% MAU.
- Cyber Monday 2023 event saw Compare.com hit 1.5 million quote requests, up 25% YoY.
- 87% of Compare.com users aged 18-24 completed buys post-quote in 2024 early data.
- Compare.com referral drove 32% new sign-ups in Q1 2024, over 200k referrals.
- Session duration on Compare.com averaged 4:48 mins in Q1 2024, 25% over benchmarks.
- Newsletters open rate at 43.1% in Q1 2024, fueling 17% traffic.
- 65% users switched insurers via Compare.com, avg save $1,050 in 2023 full year.
- Chatbot resolved 2.8M queries at 81% rate in Q1 2024.
- Compare.com processed 6.1M quotes in Q2 2024, up 17% QoQ.
- 76% return rate within 30 days Q2 2024.
User Engagement Interpretation
Clearly, Compare.com doesn't just show you the money—it builds a habit-forming, app-downloading, insurer-switching machine that consistently proves people would rather spend four minutes comparing than a small fortune assuming.
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