Sydney-based broking and IT group Ensurance plans to launch a comparison website with the option of broker advice, after arranging a reverse takeover of a listed mining company.

Parker Resources NL has taken over Ensurance and its broking arm Savill Hicks under a strategy for Ensurance founders Stefan Hicks and Brett Graves to transform Parker into an insurance business.

They plan to launch a comparison site with retail products by Christmas and expand into commercial lines next year using Ensurance’s underwriting and IT capability.

Mr Hicks told insuranceNEWS.com.au the industry must respond to consumers and business-owners who want to research and buy insurance online at a time that suits them.

Comparison sites do not have to be price-driven, he says.

“We see it as more of a tool to meet consumers’ changing purchasing habits. We won’t promote price over features.”

Consumers who need broking expertise will be directed to the company’s call centre.

“We have been in the broking industry for more than 20 years and we can back it up by giving professional advice,” Mr Hicks said. “Some will always want to use a broker, so we are not replacing any of our services, we are enhancing them.”

He says some insurers have agreed to participate, but he declined to name them.

Suncorp and IAG will not allow their products to feature on comparators, arguing there is too much focus on price over policy features.

Mr Hicks says insurance-buyers can already buy on price by visiting insurers’ websites.

The number of people researching and buying cover online is rising each year, indicating “massive digital disruption” for the industry, he warns.

“It is the reality now. We are just making consumers’ experience more convenient.”

Parker Resources’ shareholders must approve the Ensurance acquisition, but Mr Hicks expects it to take effect in November. A stock exchange listing will improve the company’s ability to raise capital.