Lausanne (awp/ats) – Comparis must be considered an insurance intermediary and must be registered in the register of unrelated intermediaries. The Federal Administrative Court rejects the comparator company’s appeal and confirms the view of the Federal Financial Market Supervisory Authority.
In September 2023, the Federal Financial Market Supervisory Authority (FINMA) assessed that Comparis SA should be considered an insurance intermediary. She encouraged the company to submit an application for registration in the register of independent insurance intermediaries. Comparis appealed this decision to the Federal Administrative Court.
In a ruling released Friday, the judges in St. Gallen that the appellant operates the website comparis.ch where users can compare insurance services. Still on this page, they can order a quote directly from the company of their choice.
Two related companies
Since 1 July 2023, the order for offers has been formally made via the sister company optimatis.ch. The order button is located in a visually distinct area depending on Optimatis, but still on the Comparis page. The court notes that the activities of the two companies are financially dependent: users would not order offers via Optimatis if their interest had not previously been piqued by Comparis.
The commissions that the insurance companies pay after a quote request on Optimatis make up a significant part of the Comparis group’s profits. Under these conditions, FINMA rightly qualified Comparis as an insurance intermediary.
Since the company does not openly acknowledge its connections with certain insurance companies and gives the impression of providing its services in a neutral manner, it must be considered an unrelated intermediary, the court concluded.
In a reaction, Comparis indicates that it accepts the decision of the Federal Administrative Court. Going forward, the group will be present on the market via two intermediaries, Optimatis and Comparis.
Founder and chairman of the board Richard Eisler emphasizes that American giants such as Google are not subject to FINMA and can quickly adapt their offerings to customer needs. “Swiss SMEs, on the other hand, may be disadvantaged by the red tape of the regulatory authorities.” (Judgment B-5866/2023 of 5 July 20024)
ats/vj
