Well, the word is out: Google Compare is shutting down operations by the end of March.
Begun in 2011 as a full financial services platform for banking, investing and credit transactions, Google announced the addition of insurance quoting in mid-2015. Now, not even a year into it, the search giant is shutting it all down.
So, what went wrong? Google seemed to hold several core beliefs, commonly held by "outsiders," about our business that were simply incorrect. In a nutshell, Google appeared to believe that the insurance business is not competitive; all personal lines auto insurance is a commodity; and its own business and platform success can be imposed on — and replicated in — any sector.
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