When the long-awaited Google Compare for auto insurance aggregator launched last week, the largest U.S. P&C insurers were conspicuously absent. Industry observers commented that there was a latent fear that Google could “reverse-engineer” the auto insurance business through its connection points with carriers. So by their absence, the largest insurers were sending a message that they don’t want to give away core parts of their business such as their rating algorithms to a data- and cash-rich company that has been rumored to have eyes on being a carrier.
However, insurance technologists who spoke to Insurance Networking News say that fear is largely unfounded. Adrian Brown, a P&C consultant who has been the CIO of several insurance companies most notably the trucking insurance carrier Canal Insurance says that Google doesn’t even need to connect to an insurer to get their product information.
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