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
Over 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.