Price comparison sites have led to changes in the insurance market, the head of e-business at More Than has asserted.

Roberto Hortal Munoz told E-consultancy that some insurance providers are benefiting from the "explosive adoption" of price comparison sites and pointed out that the providers that are the quickest to adapt to a new system are the ones who have reaped the most rewards from this system.

Mr Munoz also explained that the internet levels the playing field among insurance providers, who may previously have had limited exposure due to small marketing budgets.

He added that such sites enable consumers to choose their products based on price and further stated that the internet has become the "preferred option" for those researching and purchasing an insurance policy - particularly during times of economic downturn.

Meanwhile, a report published by the Society of Motor Manufacturers and Traders revealed that while sales of small cars increased in the month of May, sales of luxury vehicles and 4x4s fell - a trend which may be attributed to the rising price of fuel.