Google going after the Car Insurance Market

Google Compare is a suite of products designed to help consumers make informed and confident financial decisions and car insurance is a latest addition to it. The Chocolate Factory has informed insurance providers that people looking for car insurance on their computer or phone can locate you on a side by side comparison of other providers relatively quickly. You can then indicate the features that make your business unique such as cheap discounts for young drivers or great customer service.

Updated prices to match a user’s needs will be displayed when there is any change in deductable or when the user adds car to their quote. According to Google, the payment isn’t the basis for eligibility or ranking, and the revenue it receives from this is based on a flexible CPA (Cost per Acquisition) model. But Google may be getting more out of this than just commission with its investment in driverless cars all set to shake up the automotive industry. Other products in the Google Compare suite include mortgages, credit cards and travel insurance.

Comparing car insurance quotes can be a challenging experience, but the most annoying aspect has to be the surge of emails and phone calls you receive as soon as you show interest in a particular provider, and Google Car Insurance resolves this issue quite nicely. Google says in a recent blog that regardless of whether people are looking for the best credit card or the best deal on car insurance, they want an easy way to compare and understand financial products. Research indicates that 80 percent of drivers said that comparing two more or more providers will help them find a better insurance policy.

This is the reason for the inception of Google Compare for car insurance to ease consumers buying decisions. Using the service is extremely easy, where consumers start by entering their zip code and if there are car insurance providers in the area, more information will have to be provided such as name, address, date of birth, etc. You can also have the search giant look up your information if you’re feeling lazy, but take note that this may permit Google to share your information with other third party providers.

Then you will be asked to enter the cars you’d like to insure and general information asked by car insurers such as where you park your vehicle, do you use your car for business or pleasure, etc. Next, you will have to enter the information about the driver or drivers you’d like to insure, some information about yourself and the level of coverage you want. Google does it make it a point to mention that any phone numbers you reveal during use of its service will be hidden with Google Voice.

So insurance providers will not get a hold of your phone number, which prevents you from receiving several phone calls throughout the day.