Google launches price comparison service for car insurance
Google has stepped further into the price comparison market with a new service to compare car insurance quotes from around 120 insurers.
The search giant is using its technology to make sure its own service is top of the list of results when internet users type ‘car insurance’ into the Google search engine.
Digital marketing agency Greenlight said that Google’s share of the market for car insurance-related searches increased from zero to 75 per cent on the service’s first day.
Google has been competing against established price comparison sites such as confused.com and moneysupermarket.com since it acquired Beatthatquote.com for £37.7 million in March 2011.
Its first foray into the price comparison market failed after a trial service called UK Compare Mortgages was suspended, but it added a price comparison tool to its search engine in May.
Google’s car insurance comparison service is designed to offer transparency and privacy with the promise that none of its insurance partners will sell any personal details to third parties.
The service will be monitored to ensure that the price offered on the comparison site matches the price displayed on the insurer’s own website and any insurers who break the service’s code of conduct will be removed.
In related news, Tiger Watch, a car insurance price monitor, has reported a fall in the price of motor insurance premiums.
Results for September on the Tiger.co.uk site show a 4 per cent fall in average premiums during the month compared with September 2011.
Car insurance premiums are now comparable with September 2010 prices.
Andrew Goulborn, Tiger.co.uk’s Commercial Director, said: ““Generally we are seeing pricing trends that are better news for motorists.
“Prices are largely back to where they were two years ago as competition between insurance providers remains fierce.
“The driver profiles that we look at in the 35-55 year-old range are benefitting from this the most with double digit price drops compared to a year ago.”