Tag: Google

State Farm home insurance and ADT partner up for loss prevention and detection

Nordstrom
Home insurance - ADT - Home Security

The insurer recently announced an investment of $1.2 billion into the security company. State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements. The partnership between the two companies allows the insurer to imagine new forms of coverage. By working with ADT security, State Farm will be looking into ways to innovate the home insurance experience. This could include new applications for Smart Home technology to be applied to property…

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

G. Turner
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

G. Turner
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

Nordstrom
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

Nordstrom
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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