Google puts wheels on insurance
Like any good American, Google really believes in the car. Not content with putting drivers in the back seat with its autonomous car, the Silicon Valley behemoth is now looking to cash in on motor insurance. First step will be a joint programme with vehicle insurance comparison site CompareNow.com, together with insurance providers such as Dairyland and MetLife. Google will take a cut of any policy premiums collected, of course.
Something a little more sophisticated – but hardly ‘disruptive’ – and apposite would be Google getting into insurance telematics where insurers tap into the behavioural metrics of individual drivers and adjust rates according to performance, especially around speed and braking. Maybe it’s time for another Google acquisition is this area, though the company is too late to the game to buy telematics firm Insure The Box, which was snapped up last month by Japanese insurer MS&AD.