Analysts suggest that Google could launch a new insurance comparison service in the US
Google may soon be offering auto insurance coverage in the United States, according to analysts with Forrester Research. Analysts predict that Google will soon launch its Google Compare service, which is designed to be an auto insurance comparison shopping platform. This platform would allow consumers to search for insurance coverage offered by numerous companies and find the policies that best suit their needs. While Google will not be offering coverage itself, it could soon become a promising marketplace for coverage.
Google already offers a comparison service in the United Kingdom
According to Forrester Research analyst Ellen Carney, Google has been suggesting this service to insurance companies for over two years. Such a service has already been launched by Google in the United Kingdom, where the company offers to compare more than 125 insurance policies for drivers interested in coverage. When policies are sold, Google receives a percentage of the profits from these policies. The success of this service in the UK may mean a similar service will soon become available in the United States.
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Google is licensed to sell auto insurance in 26 states
Google may choose to launch a comparison service in California as early as the first quarter of this year. Google is currently licensed to sell auto insurance coverage in 26 states and the company is working with several insurers in order to do so. The company has not yet announced any definitive plans to sell insurance coverage through a new marketplace, but Google has been working to diversify its business portfolio in recent years, moving into the transportation and robotics business.
A new insurance marketplace from Google could become popular very quickly
If Google does launch a new insurance comparison service, it could serve as a sort of market disruptor. Many consumers have shown faith in Google and its products, which means that it has a great deal of influence over a large number of people. These consumers could flock to the insurance service that the company offers, making it one of the most popular marketplaces for coverage in the country.