Administrators appointed for policy price comparison business

administrators
Sarah Bell

Sarah Bell and Steven Muncaster, both of Duff & Phelps Ltd., have been appointed Joint Administrators of CompareThePolicies Limited, which traded as CompareThePolicies.com.

All 64 employees have ben made redundant, and a buyer for the company’s assets is being sought. Sarah Bell said: “CompareThePolicies.com was a fast-growing business in a market undergoing rapid expansion. It had grown to 64 staff since commencement of trading reflecting that dramatic growth. It is still too early to determine what happened within the Company to see such a reversal of fortune.”

The Company commenced full trading in 2016 specifically covering life, critical illness, income protection and Guaranteed Over 50’s insurance products. The site prided itself on offering competitive pricing against direct insurer websites, through financial or mortgage advisers or through banks.

Sarah Bell said: “CompareThePolicies.com was a fast-growing business in a market undergoing rapid expansion. It had grown to 64 staff since commencement of trading reflecting that dramatic growth. It is still too early to determine what happened within the Company to see such a reversal of fortune.

CompareThePolicies.com helped individuals through the process from beginning to end and finding the right type of insurance cover; whether they wanted to assess their options online, or by speaking to an expert over the telephone.