Agent Support, Ratings Added to Expanding Google Compare

By | May 18, 2015

The auto insurance comparison website Google Compare is expanding into Texas, Illinois and Pennsylvania, as well as adding ratings and insurance agent support.

That announcement was made on May 5 by Stephanie Cuthbertson, group product manager for Google Compare, at Google’s annual AdWords Performance Summit, which was broadcast via livestream.

“Based on the user feedback we’ve received in California, I’m excited to share that drivers in Texas, Illinois, and Pennsylvania will soon be able to quickly find and compare customized quotes, which includes both price and rating for quoted insurers,” Cuthbertson said during a conference talk that Insurance Journal obtained in transcript form.

According to Cuthbertson, “millions of people have used Google to find quotes” since Google Compare launched in California in March. She also said more than half the site’s users say they’ve received a quote cheaper than their existing policy.

[W]hile the process of shopping for auto insurance often starts on the web, often it leads to a meeting with an agent.

Now Google Compare wants to go beyond merely offering the best price, she said.

“To provide drivers with more, relevant information as they compare, we’re introducing ratings for each insurer,” Cuthbertson said. “With a tap of your finger, you can drill in to see ratings for things like customer service, claims satisfaction, and whether other users recommend the insurer.”

Beyond that Google Compare will also add a way for consumers to contact agents, according to Cuthbertson. “Now when comparing insurers, you’ll have the ability to buy online or call a local agent to get help with your policy,” she said. “This includes support for insurers’ own agent networks, and independent agents.”

A Google spokesman said the company wasn’t offering comments or details. Neither are any of the company’s partners.

The partners include Compare.com, CoverHound, BOLT Solutions Inc. and myriad insurers.

Industry Response

Groups like the Independent Insurance Agents & Brokers of America Inc. and the Insurance Information Institute usually temper such enthusiastic announcements as this one with an industry perspective.

Michael Barry, I.I.I.’s vice president of media relations, said that when word first began to spread about Google Compare the sense was the new service would hurt agents. But it appears that’s not the case.

“Their willingness to incorporate agents into the product is also an acknowledgement that agents play an important role in the process for many drivers,” Barry said. “This kind of dovetails with what we’ve found in various studies, which show that while the process of shopping for auto insurance often starts on the web, often it leads to a meeting with an agent.”

The IIABA wasn’t immediately available for comment, but the group in the past has dismissed the notion that all lines of insurance can be easily commoditized, and it has maintained that what Google is doing isn’t much different than operations like Progressive Direct, GEICO, Esurance, Nerd Wallet, Quote Wizard and Bank Rate.

“Most of the marketing for these kinds of websites is based allegedly on low-cost and convenience,” IIABA Virtual University Director Bill Wilson said in a past interview.

Many online comparison sites claim to offer an insurance quote in minutes. But Wilson asked: “How can you really help a consumer identify their exposures to loss and match it with the right customized product for those exposures” in minutes?

That’s why he believes that when it comes to online comparison tools like Google Compare, consumers will ultimately be on the losing end.

“Consumers are being duped into believing that all of these policies and the service providers are exactly the same,” he said. “The only difference is price.”

Mortgages

Google also announced it is adding mortgages to its comparison tool via an AdWords blog posted on May 5.

“Buying a home is one of the biggest financial decisions in life, so understanding your options and having the right tools is critical. The newest addition to Google Compare in the U.S. is coming soon: mortgages. Whether someone is a first-time home-buyer or looking to refinance, consumers will soon be able to find the latest mortgage rates from multiple mortgage providers, and review a customized set of criteria like interest rate, terms of the loan and fees. They’ll be able to apply directly with an approved lender or speak to a qualified adviser for more information, directly from the Google search ad.”

During the annual conference Google focused on improving mobile experiences and offering better marketing tool measurements. Mobile searches have now surpassed desktop searches on Google in 10 countries, including the U.S. and Japan.

Topics Agencies Google

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