Google is disrupting the insurance industry
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Signal
Mar 12, 2015
Google is disrupting the insurance industry

When US consumers search 'car insurance' in Google, they’ll now have the option to go via the search engine to get the best price. After launching a comparison tool for insurance products in the UK, now the brand is entering the US market, too – posing new risks to insurers.

Touted as an easier way to shop for car insurance, Google Compare is offering a search engine for insurance quotes. Users enter basic details and it presents a range of options from insurance partners like Mercury Insurance and Metlif. If shoppers buy, Google collects a referral fee. Although the service is not all about price – insurers also have space to mention ‘differentiating features’ – several large insurers including State Farm and GEICO have declined to participate in what they see as a race to the bottom.