In the market for new auto insurance? Live in California? Then you may want to check out the new option for Google Compare. The service allows California residents to compare auto insurance side by side. According to the announcement, Compare provides a seamless, intuitive experience for insurance carriers to connect with customers online, whether you're a local or national provider.
For customers, you'll be able to compare insurance on either your phone or computer in about five minutes. Carriers will be able to highlight what separates their company from the others and customers will be able to adjust deductibles, add or remove cars and see updated prices as such. Then customers will be able to purchase said insurance over the Internet or on the phone.
The service is set roll out to other states and Google Compare will add other features like ratings, reviews and local agent support. Google says that while Compare is based on a flexible cost-per-acquisition (CPA) model, payments do not influence ranking and eligibility.
source: Inside AdWords
Why all of the hoopla and panic about Google selling insurance online? The truth of the matter is that Google’s new affiliates, GoogleCompare & CoverHound, are just the same sort of mobile insurance vehicles that offer the usual QUOTES and RATES of various insurers products and services. There’s nothing new here folks, but seemingly flawed research that questions the integrity of the reported so-called findings.
By the way, the GoogleCompare services do not match up well with a new online insurance comparison service for drivers in California called Insurance Snoopers, Inc. at www.insurancesnoopers.com. When it comes to key services such as features/benefits, access time to information/speed, cost of service, cyber threats concerning privacy/service’s security, etc., Insurance Snoopers wins hands down!
More recently, Forrester Research commented on the Insurance Snoopers service in its March 23, 2015 analytical report entitled, “Disrupt or Be Disrupted.”
But here’s snapshot of the recent comparison between the two services:
(A) Google Compare Auto Insurance Services, Inc.
(B) Insurance Snoopers
Main Purpose of Service:
(A) Provides services of quotes and rates for customers to buy auto insurance online through Google Compare.com/CoverHound from about 30 member insurers
(B) Provides auto policy summaries and policy comparisons services through insurancesnoopers.com, which help customers buy auto insurance online from agents, brokers, producers, and 130+ California non direct and direct writer insurers
Main Focus/Perspective:
(A) Proffers services from a price comparison perspective
(B) Proffers services from an insurance policy/claims comparison perspective
Key Service Feature/Benefit:
(A) The service compares auto policy quotes and rates that MAY BE available to customers at ESTIMATED prices offered by about 30 member insurers
(B) The service furnishes the ACTUAL basic auto policy from 130+ California insurers for summarizing and/or comparing commonly and uncommonly known auto policy features/benefits
Access Time to Information/Speed:
(A) Takes MORE than 10 minutes to get 6 ESTIMATED auto policy price quotes; Over 20 questions to answer with additional forms from various insurers
(B) Takes LESS than 2 minutes to get 6 ACTUAL auto policy comparisons; No questions to answer, and no forms to fill out
Cost of Service:
(A) Google’s service is free, but receives compensation from participating member insurers
(B) ISI charges a nominal $3.00 fee for access to its basic policy summary service. But ISI DOES NOT receive compensation from ANY insurer
Cyber Threats to Customer Privacy:
(A) Increase chance of cyber threats to customers’ privacy of EXTENSIVE private/personal information stored and because of multiple transmittals of data among participating member insurers
(B) Decrease chance of cyber threats to customers’ privacy of LIMITED private/personal information stored and because there are NO transmittals of data to any insurer
Cyber Threats to Service’s Security:
(A) Increase chance of cyber threats to MULTIPLE services’ security containing EXTENSIVE customers’ private/personal information stored and because of multiple transmittals of data among participating member insurers
(B) Decrease chance of cyber threats to ONLY ISI’s security containing LIMITED customers’ private/personal information stored and because there are NO transmittals of data to any insurer
Policy Discount Information:
(A) Furnishes limited auto policy discount information from about 30 member insurers
(B) Furnishes an extensive list of commonly and uncommonly known auto policy discount information from 130+ California auto insurance companies
Mobile Connectivity:
(A) Makes known the business hours of operation available for about 30 member insurers
(B) Mobile access availability for 130+ California insurers via a 800 telephone number and corresponding web site