Money Supermarket integrates with ChatGPT in battle to fend off AI threat
Money Supermarket has launched its own ChatGPT app as the comparison service seeks to quell investor fears over the threat to its business from AI.
The new ChatGPT app allows users to access Money Supermarket services directly within the ChatGPT interface, creating a conversational way to search, compare and find deals, without leaving the chat – the first launched by a UK financial services company.
Existing Money Supermarket customers can get an instant full quote for their car insurance, or with just five answers, new customers can get a car insurance estimate, the firm said.
Money Supermarket owner Mony shares rose by around 1.6 percent to 153p on Friday morning following the announcement.
“This is further proof that Mony Group sees AI as more of an opportunity than a threat,” a spokesperson said.
Earlier this month, shares in FTSE 250 constituent Mony tumbled to their lowest in 13 years on renewed anxieties that advances in AI are eating into the value of price comparison sites.
London-listed Future, which owns Money Supermarket rival Go Compare, has also seen its stock slide by as much as a fifth since the start of the year amid growing expectation more and more consumers are shunning price comparison sites in favour of going direct to large language models such as ChatGPT for insurance advice.
The steep sell-off adds comparison sites to a growing list of stocks that have been impacted by the steady rise of all-purpose AI tools by the likes of Google, OpenAI and Anthropic.
Earlier in February it was the turn of FTSE 100 constituents Sage, LSEG and RELX, with the latter tumbling as much as 16 per cent following the launch of Anthropic’s new legal tool, widely viewed as a threat to the data and information firm’s dominance.
Dan Coatsworth, head of markets at AJ Bell, said: “The insurance sector has been hit by a double blow from AI and tech innovation, wiping millions of pounds off the value of various stocks.
“It is now possible to obtain insurance quotes directly inside ChatGPT, causing investors to panic that AI will eat insurance brokers and financial comparison portals’ lunch.”
Insurify service rattles investors
Money Supermarket’s fall follows reports US-based insurance aggregator Insurify has launched a new service where users can compare car insurance directly through OpenAI’s ChatGPT app. Spanish insurer Tuio has also reportedly got approval to provide home insurance quotes directly inside ChatGPT, and there are other companies hoping to follow suit.
“Investors are nervous about the potential scale of disruption from AI and new technology,” Coatsworth said.
“This has become a common theme in 2026 with share price declines recorded across multiple sectors including legal, advertising and accounting.
“We’re seeing knee-jerk reactions from investors as they panic before obtaining all the facts and make rational decisions.”