Google Compare, a website that started last year to help consumers shop for car insurance and other financial products, will shut down by the end of March 2016. According to a report from The Wall Street Journal, Google is shutting down a service that allowed web users to compare offers for car insurance, credit cards, and mortgages.
The site was initially offered to consumers in state of California in early 2015.
Google compare provides car insurance quotes from various insurance agencies upon which Google Compare receives commissions and fees from participating carriers.
In an email sent to its partners, Google Compare said that beginning on February 23, it would start “ramping down” the site and it will be completely inoperable as of March 23.
Apparently, the site did not live up to Google’s expectations. According to an email posted on searchengineland.com, Google Compare said that “Despite people turning to Google for financial services information, the Google Compare service itself has not driven the success we hoped for.”
Google Compare said focusing on “future innovations” will enable us to provide fresh, comprehensive answers to Google users, and provide our financial services partners with the best return on investment.”
According to The Wall Street Journal, one of the challenges Google came across is that auto insurance generally requires state-by-state approval. The announcement also stated that Google failed to persuade some big insurers and lenders to be part of Compare, leading to limited choices and people seeking answers somewhere else. Google did not disclose whether it plans to go ahead the niche again in the future.
When Google jumped into the insurance-selling game, it joined a long list of technology companies that have been trying to shake up the market by selling things like auto and homeowners insurance online. The idea behind their sites is to help consumers save money by showing them multiple quotes in one place.
Google had developed various insurance-industry partnerships to get access to broker networks is telling partners that it is closing down both its British and United States sites in about a month.
We at Diverse Insurance Group, situated in Hollywood, Florida, aim to serve your insurance needs and offer multiple insurance related solutions. We are currently working with twelve homeowners insurance carriers and can easily compare the best insurance rate for you!
Feel free to contact us at: (754) 300 7352