The spot, created by Mother, is part of the "you’re so Moneysupermarket" campaign, which explains the feeling someone has after they have saved money on insurance.
It shows an ordinary man called Dave wearing a suit, walking to the office. Everyone around him stares at him in awe.
The camera pans down and shows Dave strutting to "don’t cha" by the Pussycat Dolls wearing "booty enhancing" shorts and platform heels. He moves his hips to the music and is joined by dancers.
The final shot shows him shaking his hips towards Osbourne who says, "Dave darling, you are so Moneysupermarket."
Kyle Harman-Turner and Martin Rose were the creative directors for the work. Fredrik Bond directed the ad through Sonny London.
Gareth Helm, the brand director at Moneysupermarket.com, said: "Building on the success of our 15-feet African bull elephant, this time we tap into our version of a victory dance.
"Dave feels so epic having saved on his car insurance with us that he just has to strut his stuff and shake his bountiful behind. And we couldn’t have asked for anyone more suited than Sharon Osbourne to bless this feeling."
The film airs tomorrow night on ITV1 during Stars in Their Eyes and will be supported by CRM and social media activity with the hashtag #epicstrut.
Harman-Turner and Rose said: "High heels, hot pants and a bottom wider than Kim Kardashian. All of them can be found in the latest Moneysupermarket film that shows Dave saving on his car insurance, strutting his stuff like a queen diva.
"Our recipe was simple; a sprinkle of J-LO, a dash of Beyonce and a side serving of guilty pleasure in the Pussycat Dolls.
"All of which were channelled via the hot pants of a middle management bloke from Croydon."