While the general public barely noticed the development during the summer holidays, for Comparis, it represents a significant challenge to key elements of its business model.

On August 14, 2024, the Federal Council decided that, starting September 1, the «Branchenvereinbarung Vermittler» (BVV), or the industry agreement on intermediaries, would be declared binding for all health insurers.

Only success-based commissions going forward

This industry agreement between the two largest health insurance associations, Santésuisse and Curafutura, caps intermediary commissions at 70 francs per person for successful contract signings. Commissions can only be paid when a contract is actually concluded.

Shortly before this decision, Comparis lost a legal dispute with Finma in the Federal Administrative Court. Finma had forced the company, through an enforcement action, to register as an insurance intermediary with the regulator. This ruling is now legally binding, officially recognizing Comparis as an insurance intermediary.

Revenue of 10.2 million francs from compulsory health insurance

According to its own data, Comparis generated approximately 10.2 million francs in 2023 from the compulsory health insurance sector (under the Health Insurance Act, KVG).

With its registration as an intermediary with Finma and the newly binding maximum commission of 70 francs per insured person—paid by insurers only upon the successful conclusion of a contract—the viability of its current business model is in question.

No more payments for quotes

Until now, Comparis’ commissions were primarily based on the number of quotes provided. The company previously received about 50 francs per quote from insurers.

Visitors to Comparis’ website could request multiple insurance quotes at once. Industry experts estimate that an average of four quotes were provided for every policy signed.

A potential 50 percent revenue cut?

As a result of the commission cap and the shift to success-based payments, Comparis could see its revenue from compulsory health insurance drop by half in the future.

When asked by finews.ch about the impact of the new regulations on its revenue and profitability, the company declined to comment: «The effects are not yet known to us.»

Contracts handled by a sister company

Additionally, Comparis does not receive commissions directly from insurers. «The contracts are concluded through our brokerage partner, Optimatis AG. Optimatis is currently renegotiating contracts with all partners.»

Optimatis, a sister company of Comparis and also part of Decisis Holding, has been registered with Finma as an insurance intermediary since 2017.