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 attract the attention of consumers.

Website has been unable to attract consumer attention

Google had formed several partnerships with companies in the insurance industry in the past. These partnerships were meant to give Google access to broker networks so that it may be able to provide insurance coverage to consumers. Google has informed its partners that the Google Compare website will be closing within a month. The Google Compare site has not been as successful as the company had hoped, despite the fact that many consumers turned to Google for information on financial services.

Technology companies are finding it difficult to compete in the insurance market

google auto insurance industryOver the past few years, several technology companies have become involved in the insurance industry. These companies had seen significant promise in the insurance market, hoping to enter into new fields of business in order to provide valuable services to consumers. This has proven to be difficult, however, as companies have found it difficult to comply with the strict regulations that govern the insurance industry.

Google may opt to participate in the insurance market in the future

Google’s partners noted that the company left the possibility of creating a new insurance product open. The company is expected to change the way it offers insurance coverage, however, in order to perform more effectively in the market. It is unclear what kind of insurance product the company will be offering at this time. Google still has interests in the insurance sector but will have to re-evaluate its efforts to find success in the competitive insurance market.

One Thought to “Google is pulling out of the insurance industry, for now”

  1. Such a truth you have said! As an insurance agent, I also personally believe that google is not giving as much business as we have expected. We are trying to find new things that will help insurance companies to survive in the insurance market. Let’s hope for the best!

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.