Goodbye Google Compare

Feb 23, 2016

  1. paccrest
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    paccrest New Member

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    Seems human interaction is important in insurance sales...

    insurancejournal.com/news/national/2016/02/22/399490.htm
     
    paccrest, Feb 23, 2016
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  2. Derrick
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    Derrick Super Genius

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    I said this to some friends, but did Google really think that carriers were just going to abandon the system that they've helped built (and probably funded) for 30 years, IVANS, and give it to Google?

    On top of that, there's no reason why carriers would turn their back on agents. We are the front lines of underwriting. For instance, I don't send junk to certain carriers even if they "qualify" because I just get a "feeling" that they won't be good customers. I do this because said carriers treat me well in exchange for not putting junk on their books. You just can't do that type of underwriting from an automated system.

    Perhaps Google could have been competitive in the non-standard market, but we all know there isn't exactly a fine line between non-standard, standard, and preferred.
     
    Derrick, Feb 23, 2016
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  3. InsCommentary
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    InsCommentary Guru

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    Another "disrupter" that simply did not understand the complex industry they hoped to disrupt. The insurance industry is more than just a web site, a commodity product, and a price gun. The primary beneficiary of this is not insurance agents, but consumers who would have been duped into purchasing inferior products and services based almost exclusively on brand and price. Let’s hope that Google permanently returns to its core competencies and abandons being an accomplice to financially endangering the lives of innocent, misguided people.

    All too often, it seems that people that get involved in these ventures usually know absolutely nothing about the industry. They have no conception of the complex legal and regulatory issues and they sure don’t care about matching the right products with each customer’s unique exposure to protect their assets and income. They think it’s like any other online sale where the "buying experience" is the only important thing.

    I think these investors see billions in cash flow in insurance but don’t understand the outflow and everything in between, including risk analysis, the service-intensive nature of insurance, and the complex legal contracts necessary to govern coverage and the claims process. Again, they’ve been watching too many TV commercials and think all you need is a web site and a price gun.

    Bill Wilson, CPCU, ARM
    InsuranceCommentary.com (coming in July 2016)
     
  4. agentinsouth
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    agentinsouth Guru

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    So where are all those people who were dogging me on this forum when I said the sky is NOT falling? I was told that I was not being realistic..... I think they call this vindication.
     
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