In 2012, Google debuted a program called Google Compare, which helps searchers comparison shop for car insurance coverage through Google searches. Today, the program also includes quoting for travel insurance, as well as credit card, mortgage, and banking comparisons.
At the time of its release, Google Compare was only available in the U.K. According to a Forrester analyst and other industry sources, Google Compare (for auto insurance) could be coming to the U.S. during the first quarter of 2015.
What Will Google Compare Mean for Searchers?
When using Google.co.uk, and searching for “auto insurance,” the search results page looks like the image you see here.
Below the paid ads, and above the organic results, appears a sponsored feature that allows one to type in a vehicle registration number and begin the insurance quoting process through Google Compare.
When this program launches in the U.S., it can be assumed that the feature will appear and operate in a similar fashion to the U.K. Search users, when searching for car insurance or related queries, will be presented with the comparison box, yet another option in their results. It is unclear how this will affect the local map results we oftentimes see for insurance queries. The search results pages may combine paid ads, Google Compare, local results, and organic results.
What Will Google Compare Mean for Independent Agencies?
If Google does roll out this feature in the United States this quarter, it is expected to start in California. Conducting business as “Google Compare Auto Insurance Services, Inc.,” Google is already licensed to sell insurance in over 25 states, with more expected as time goes on. While insurance search is competitive regardless of location, Google may be causing a stir off the bat in some of the more saturated states; the company already has licenses in California, Massachusetts, Florida, Texas, and New York.
It is hard to say what exactly this program will mean for the independent agencies in the U.S. without having confirmation of exactly how it will work. Under the assumption that it will operate similarly to the U.K. program, this could mean more hardships for those already struggling to compete in the auto insurance market through organic search. If the comparison feature pushed out local results based on particular insurance queries, this could eliminate a potential avenue for agencies to compete on the first page of search results.
It’s not news to the insurance agencies who have already been executing digital marketing strategies how competitive the industry is in both paid and organic search. Auto insurance is of one of the most sodden sectors of the industry, and the best way to combat a program like Google Compare is to continue pushing your marketing efforts. Keep giving value to search users, in regard to your agency, by posting unique and compelling blog posts and participating in social media. If the already competitive insurance search market is to become more saturated, it’s up to your agency to set itself apart and compete. It will be important now more than ever to highlight some of your other insurance markets, aside from auto insurance. If you have access to excellent home insurance providers, share that! If you have niche commercial markets that you can serve better than other area agencies, promote that!
Google’s participation in the U.S. insurance market doesn’t mean the end of independent insurance agencies, but it will make the auto insurance market specifically much harder in which to compete. Arm yourself with a quality digital marketing strategy and make sure to push the benefits of working with your local agency. We will continue to update you on the progress of Google Compare as more details are available.