As the company enters the lead generation game, search giant Google Inc (NASDAQ:GOOGL), announces the launch of Google compare for Auto Insurance. With the help of this tool, Google displays up to 14 sponsored listings from insurance providers with rate quote information, the number likely going to be increased as the program expands.
The insurance providers can highlight the qualities which make them unique, like good rating in customer service or better discounts for safe drivers. Also the updated pricing can be delivered when the users modify their deductible or add additional cars to their quote. The initial advertisers include MetLife and Mercury Insurance. The users can either buy policies online or by calling agents from their phones.
For a start, the program is launching in California and will roll out to other states with additional features like ratings and review and local agent support for insurance companies with agent networks.
Google Inc (NASDAQ:GOOGL), rather than just acting as an ad facilitator will act as a lead generator with pricing based on ‘’flexible cost-per-acquisition (CPA) ’’ model. The company adds that factor of inclusion in results or where it ranks does not include the payment factor.
Google has been running a similar program for car insurance quote acquisition in UK since 2012 and it has been long anticipated in US. As correctly predicted by a Forrester analyst the California launch will come in this quarter.
Auto Insurance becomes one of the various fields Google Inc (NASDAQ:GOOGL) has entered, rankling aggregators and comparison sites among other options, including flights, hotels and shopping. In 2011, the company tried the rate quote waters with a short lived program called Google Advisors that characterized shopping for mortgage lenders, credit card providers and banks. The only part that stays alive of the original program is Google Compare for Credit cards.
Google Compare for Auto Insurance won’t be competing with other advertisers in the AdWords auction, as was with credit card listing. The entity of Google Compare is already approved to run business in more than 25 states.