Tesco will this week launch its first online price comparision site, entering the crowded marketplace comparing motor insurance prices.

The new service, TescoCompare.com, will launch on 14 September listing details of about 30 products and comparing over 25 policy features.

It is the work of Tesco Personal Finance, a 50:50 joint venture between the UK supermarket and the Royal Bank of Scotland.

Robin Bulloch, Tesco Personal Finance's CEO, said: "People are increasingly using websites to choose their insurance and they have told us they trust Tesco to provide one. They have told us they want our service to go beyond price comparison and that's what we've done.

The online price comparison market in the UK is growing fast, with Admiral Insurance-owned Confused.com and recently listed Moneysupermarket.com among the biggest.

Confused.com has already slammed Tesco's new offering, claiming the range of products offered by the supermarket is insufficient because a quarter of the 30 brands featured are owned by RBS.

RBS is reckoned to account for over 30% of the UK's motor insurance market, selling through brands including Churchill, Direct Line and Privilege.