Google has added car insurance to its “Google Compare” suite of products, which are “designed to help people make confident, more informed financial decisions.”
Insurance providers have been told by the Chocolate Factory that “people searching for car insurance on their phone or computer can find you along with an apples-to-apples comparison of other providers – all in as little as 5 minutes. You can highlight what makes your business unique, whether that’s an ‘A’ rating in customer service or better discounts for safe drivers.”
“When users adjust their deductible or add additional cars to their quote,” the missive continued, “you can show updated pricing that matches their needs.”
Google states that the revenue generated will be through a “flexible cost-per-acquisition (CPA) model,” and notes that “payment isn’t a factor in ranking or eligibility.”
The commission produced through the service may not be the only thing Google gets out of this. The ad giant’s investment in, and eventual deployment of, driverless cars is expected to disrupt the automobile insurance industry.
The Wall Street Journal has found concerns about the effect of driverless cars upon the industry in the annual reports of three large automobile insurance companies. ®
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