Money Supermarket shares tumble to 13-year low on AI fears
Shares in Money Supermarket have tumbled to their lowest in 13 years on renewed anxieties that advances in AI are eating into the value of price comparison sites.
The FTSE 250 stock sunk as much as 13 per cent by mid-morning on Tuesday, before paring back losses later in the afternoon. Mony Group shares closed the trading session down 8.6 per cent to 153p, the lowest since September 2013.
London-listed Future, which owns Money Supermarket rival Go Compare, also saw its stock slip, falling 3 per cent, 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 selloff 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.”
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.”