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The launch of Google Compare in the US hasn’t been easy (it has been live in the UK for 2yrs). Even though US insurers have been mentioning their participation on the comparison site for more than two years, the US site launch keeps getting pushed back. Will they acquire their way to market with Cover Hound?
And one thing’s for sure: Google Compare is going to have big implications for US insurers. While doing the research for a report on what Google Compare is going to mean for insurer strategies in 2015, I took a look at a bunch of state insurance commission filings to see just what was up with the entity now officially doing business as Google Compare Auto Insurance Services Inc. What did I learn? They’re licensed to business in more than half the states. They’re working with a handful of identified insurers including Dairyland, MetLife, Mercury, Permanent General Assurance, Viking Insurance of Wisconsin and Workmen’s. The corporate officers haven’t worked in insurance. The Corporate Treasurer added CoverHound to her California producer license. Will they buy it?
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