Property/Casualty insurance pros are weighing in on the news this week that Google is unceremoniously dropping its “Google Compare” auto insurance venture. Google confirmed that the shutdown will occur next month in both the U.S. and UK with a final termination date of March 23rd, 2016. Google’s confirmation came in the form of acknowledging a letter that was sent to its online financial product partners, a letter posted by the website SearchEngineLand.com late Monday night. In operation in the U.S. for only about a year, the initial reports about the service created unrest amongst the independent agent community in particular, which feared that the method could be extended to other lines of insurance and cannibalize their traditional foothold as advisors on price and coverage options.
Read more plus industry reaction from Insurance Journal here.