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Google to enter the insurance market

Google to enter the insurance market

  Being a tech-focused business we at High Gear understand the importance of jumping on bandwagons, needing to get in there first before big corporate firms take industries over. With Google renowned for such practice the insurance market bit their nails to the bone when hearing of their plans to enter the space. However, luckily for High Gear their plans do not infringe on car insurance, looking to further develop Nest, a part of Google that is preoccupied with smoke detectors and smart thermostats.  Speaking to Reuters, Nick Leeder, Google France CEO, outlined that the company wishes to form partnerships with insurance firms.  'With some of the things we have done around Nest, we have been working with insurers in France like AXA and Allianz to develop bundles of products which blend technology and hardware with insurance,” he told the newswire.    “We’re clearer about the role that we can play and what we can add, and we are looking for partners.”  While Leeder made it crystal clear that building a direct insurance company was not on the cards it certainly wasn't ruled out.    “We are not a company that uses the word ‘never’ much, so it’s difficult to rule things in or out. I think there are things that we are good at and things we are not good at,” he explained.    While boasting the ability to talk the talk we must not forget Google's previous endeavour into the insurance market, recently throwing the towel in on their unsuccessful price comparison website Google Compare.    “We found it didn’t work as well as we’d like,” Leeder explained.  Let us know what you think on this subject by leaving your thoughts with us.  

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