Tim Rose, BOSS of Virginia-based compare.com, said Google approached his company because it was having trouble attracting carrier partners to its search panel and wanted to offer more carrier options to users.
The partnership works by providing Google Evaluate users use of some associated with Compare.com’s 41 carrier partners through the Google Compare site.
“They ultimately made a decision that all of us were a brief cut to creating a panel on their own, ” stated Rose.Google is providing compare.com’s providers in addition to forming its own carrier panel, said Rose. However, all of compare.com’s carrier partners are not available through the Google Compare site.“Google Evaluate will gather user data and ahead that info to us and we’ll forward it onto any in our participating service providers that want their prices shown upon Google [Compare], ” he or she said.
Rose said not every of compare.com’s carrier partners want to participate in the new Google Compare venture as some have concerns. He wouldn’t name or give an exact number of compare.com’s carriers that agreed to participate, but did say it is “somewhere in between” its 41 partners.“In a few ways, this really is quite frightening for insurance providers. There is actually concern included in this about what goes on if Search engines controls among the avenues exactly where they obtain business, ” he or she said.The connection is additionally non-reciprocal, meaning Search engines Compare opted to not share it’s carrier companions with compare.com. Rose said that was Google’s decision.
The partnership works by displaying Google Evaluate users multiple quotes after these people input their own information – a few quotes can come from compare.com’s carrier partners, and some from Google.com’s partners. Quotes may also be provided by Google’s other partner, CoverHound.com. When users choose to purchase an auto policy on Google’s site from a compare.com carrier, they leave the Google site and go to that carrier’s webpage to finish the transaction, just as it works on compare.com’s site. Customers can also choose to call and purchase their policy over the phone.
Compare.com is compensated by the carrier just as it would be if they went straight to compare.com.“From the actual carrier’s perspective, the plan still originated from compare.com and they will compensate us. Then we pay Google a share of what we were compensated by the carrier,” said Rose.Compare.com doesn’t charge customers to use its site and the same is true on the Google Compare platform. Compare.com charges carriers a flat fee per sale that is based on the segment of business. Carriers are only charged if a customer actually buys the policy from the company. Compare.com then uses that money to advertise on behalf of the carriers.