Rumor: Is Google Looking To Compare Insurance For U.S. Consumers Through Buying CoverHound?

Insurance is more than likely not the first thing you think about when you ponder on the whole of Google Inc., but new reports are surfacing that suggest Google could be looking at bringing insurance services into the U.S. market. The details came to light after Forrester and other multiple news media outlets had noticed Google could be looking to bring a service they currently offer in the UK called Google Compare to the U.S., alongside the possibility that they could be looking buy out CoverHound, which is a California based insurance broker and could give Google a way into the insurance market here in the states.

Google Compare is a service they rolled out in Europe in 2012, and helps individuals compare rates and quotes from different insurance agencies to find the best deal. Google does this type of comparative service with other things already, and the fact that it has been comparing insurance rates for people for the past few years would make you think that Google would be ready to offer it’s home country the same type of deal. On the contrary though it has apparently been a little more difficult for Google to get Compare up and running here in the U.S., even though they’re said to be licensed to do business in a number of different states(at least 25 according to Forrester).

Purchasing CoverHound gives them an easy “in” to an industry that they haven’t otherwise been able to gain entry to and with CoverHound having been in business for some time comparing rates themselves, they already have a decent list of customers(insurers)that do business with them so it takes quite a bit of work off of Google’s shoulders to get those companies on board. Forrester also points out that CoverHound and the main Google campus in Mountain View are fairly close to each other, which would make it easy for Google to oversee operations. For now there is no specific detail on if and when we might see Google Compare, or another service like it in the U.S., but this could be a step forward and get them closer to getting things up and running we’d think. This is all speculation at this time so we’ll just have to wait and find out if Google has any plans that fit in with what we’ve heard so far.

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