Google buys minority stake in insurance agency software provider, Applied Systems

Insurance Agency Software - Google

The purchase was made through CapitalG, Alphabet’s growth equity investment fund. Google has purchased a minority stake in a company called Applied Systems, which provides insurance agency software, cloud based software and other tech for independent agencies. CapitalG was also the investment firm behind the funding for Airbnb, Lyft, SurveyMonkey and Zscaler. CapitalG is the growth equity investment fund at Alphabet, Google’s parent company. As of the time of the writing of this article, neither CapitalG nor Applied Systems have disclosed any of the financial details of the deal. That…

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1 in 5 Consumers accept Amazon and Google as homeowners insurance companies

Homeowners insurance companies - Home in bubble over hand

A J.D. Power survey showed that shoppers see these tech giants as acceptable home insurers. One in five consumers said in a recent J.D. Power survey that they would be willing to use Amazon or Google as homeowners insurance companies. Among those who participated in the survey, 80 percent were already insured by a large national carrier. Amazon and Google have both dabbled in the insurance industry and are expected to become increasing participants in the marketplace. Earlier in August, media reports showed that Amazon was testing the waters in…

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Google is pulling out of the insurance industry, for now

google auto insurance industry

Google will be closing down its insurance comparison website within a month Google has announced that it will be shutting down its Google Compare insurance comparison site. This may be a reflection of Google’s intention of selling financial products, such as auto insurance coverage. Google Compare has been operating in the United Kingdom for three years and the company had planned to bring the service to the United States in the near future. The site allowed users to compare prices on auto insurance coverage, but the site was never to…

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Self-driving cars could lead to lower auto insurance premiums

auto insurance ride share

Insurance premiums could fall significantly due to automated vehicles Self-driving cars could help save motorists money on auto insurance coverage, according to insurance startup Metromile. The company has released a new report that suggests that drivers could save as much as $1,000 a year on coverage due to automated vehicles. These cars could cost as little as $250 a year to insure, and they may serve as a disruptive force for the auto insurance industry in the coming years. Self-driving cars are not subjected to human error in the same…

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Google self-driving car involved in yet another accident

Driverless self-driving car Google auto insurance

The vehicle was rear-ended by another driver that had supposedly been driving while distracted. It looks as though the Google self-driving car road tests are not being blessed with all that much luck, as yet another one has now been involved in a crash as it was rear ended by another vehicle while it had been stopped at a red light. Only weeks after being rear ended twice while being stopped at a light, it has now happened again. A few weeks ago, the Google self-driving car made a report…

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Is homeowners insurance Google’s next move, following its Nest announcement?

google nest cam homeowners insurance

The new security cameras could represent an important new step into this market for the company. There hasn’t been very much news about Nest since Google acquired in for $3.2 million back in January 2014, but now it is being seen as Google’s first step toward a larger homeowners insurance play as the smart gadgets company announces some new devices. Though the company is best known for its “learning thermostat” it is home cameras that are now being watched. Nest has now held its first press conference in order to…

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Google is making a move into the auto insurance sector

Driverless self-driving car Google auto insurance

Driverless cars could have a major impact on the auto insurance market Self-driving cars are coming and that may change Google’s position in the auto insurance space. Recently, Google launched its insurance rate comparison service in the U.S. Called Google Compare, this service has been operating in the United Kingdom for some time, representing quotes from 124 insurers in the country. The UK government has already approved the testing of driverless vehicles on public roads, but U.S. regulations are still somewhat restrictive. These vehicles could have a significant impact on…

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