Post on 21-Jul-2015
Would You Consider Buying
Your Auto Insurance from
Google?
Google InsuranceWith all the competition in the auto insurance industry for your business – would you consider a Googlepolicy to insure your car? That is, of course, if Google was to go into the auto insurance business.
Online Insurance ProviderGoogle apparentlyintends to take its highlypopular internet autoinsurance comparisonshopping to the next level.The company plans tooffer policies through itsnew Google CompareAuto Insurance Servicesin the U.S., as reported byForrester Research.
Licensing InformationLicensed to sellinsurance in 26 states,the new entity recentlywas granted the right tooffer policies on behalfof MetLife, Viking, andfour other companies inCalifornia, the lonestate, so far.
Official Start DateThat should change rather quickly in the months to come. Like many of its past endeavors, Google’s success hinges on its latest attempt to cut out the middleman, which is another facet of the strategy that stole massive amounts of search traffic away from retailers in a November Google Shopping test that redirected ad clicks to its own Google Shopping results pages rather than those of retail websites.
Availability DatesWhile Google Compare
for auto insurance in the
U.K. has been available
to consumers since
2012, the service’s U.S.
launch has been
plagued by repeated
delays.
Current StatusSo, at this point, it’s
more a matter of when
rather than if Google
will begin offering auto
insurance policies
directly from its search
results platform.
Google Online RevenueIt goes without saying
that Google already makes a ton of
money off its ad revenue. But,
insurance has been an intriguing and
financially attractive industry for the
company in ad sales, as well as the
most expensive keyword category
across the board. Of Google’s $32.2
billion advertising revenue, 97 percent
comes from online pay-per-click
advertising, with insurance keywords
bringing in as much as $54.91 per
click as of several years ago. And,
with advertising prices rising, per click
rates have also risen substantially.
ProjectionsThere’s little doubt why Googlehas been trying to grab a piece ofthe actual insurance revenueavailable for the taking. Case inpoint, in 2013, the U.S. insuranceindustry boasted premiumstotaling $1 trillion, withproperty/casualty, which includesauto, home, renters, andcommercial insurance,accounting for $481.2 billion or46 percent of that total revenue.
Google Target CitiesNo one is more primed and ready to
leap into the insurance foray than
Google. Already having been licensed to
conduct business in more than half the
states – Alaska, Arkansas, Arizona,
California, Delaware, Florida, Idaho,
Illinois, Indiana, Louisiana,
Massachusetts, Minnesota, Missouri,
New Hampshire, New Jersey, New York,
North Carolina, Ohio, Oklahoma,
Oregon, South Carolina, Tennessee,
Texas, New Jersey, Washington, West
Virginia, Wisconsin, and Wyoming –
Google Compare Auto Insurance
Services is poised to take the insurance
industry by storm.
Google PositionGoogle has made no secret of its
plans to get into selling insurance.
However, the break-in period has
taken longer than most analysts
anticipated, considering its massive
market access due to its position as
the prominent search engine on the
internet. Once up and operational, the
program will be hazardous to mostly
the middleman, the broker trying to
compete on an equal playing field by
selling cheap auto insurance.
Meanwhile, the real winners will be
Google, the brand, and the consumer.
Contact UsAs a consumer, you always
want to get the lowest price
on your annual premiums.
That’s why you should
double-check you’re getting
the best rate on your auto
insurance. Why not get a
free auto insurance quote
today?Would you consider
buying your auto insurance from Google?