INSPENONLINE: Google's Price Comparison Site in the US and UK Is Shaking Up the Insurance Industry How Google's new insurance platform in the US could disrupt the industry

Tuesday, 19 May 2015

Google's Price Comparison Site in the US and UK Is Shaking Up the Insurance Industry How Google's new insurance platform in the US could disrupt the industry

HAMILTON, Bermuda, May 16, 2015 /PRNewswire/ -- This year Google launched an insurance price comparison site in California, allowing users to easily compare auto insurance from different providers, with more US states to follow soon. This follows the launch in 2012 of Google's UK price comparison site, providing comparisons on car insurance, travel insurance, credit cards and mortgages.

InsuranceLinked talked to Ellen Carney, principal analyst at Forrester Research, about what she thought Google might do next.

Read the full article here: http://insurancelinked.com/what-will-google-do-next/

What is the scope of Google's plans for the US insurance industry?

The terms and conditions on Google Compare make it very clear how they are planning to use the data. The excuse that Google will not have the appetite to deal with the regulators couldn't be further from the truth. They are already courting them; they are understanding how the regulators work and how they make decisions - there are very few hurdles for Google here.

We like to think our industry is so complicated. But anyone can be an insurance carrier with enough capital, a distribution network and access to low cost debt, and there are an awful lot of companies besides insurance that meet that criteria. The excuses we've had in insurance - our compliance people won't let us do it our legal people won't let us do it - that stuff isn't going to hold water anymore.

InsuranceLinked is the online resource for catastrophe bond and insurance linked investments. Register for free updates, analysis and interactive charts: http://insurancelinked.com

Media Contact:
Anica Brooks
Vice President, Business Development
+1-441-591-5913
anica.brooks@insurancelinked.com

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Lawal is Inspen 2014 insurance man of the year

The former President Chartered Insurance Institute of Nigeria (CIIN) Fatai Lawal has emerged the 2014 Inspenonline Insurance Man of the year.

Fatai who is the the Managing Director Sterling Assurance Nigeria Limited was named today, at the Nigerian Insurance and Pension Award organised by Inspenonline.

Chief Executive Officer Inspenonline Media, Chuks Udo Okonta, said Lawal was picked from the votes casted by the public and other considerations made by the award's panel of assessors.

He noted that the winner raised the bar at the the Institute and the industry by opting to serve a tenure which was eventful and impactful. He added that amongst the legacies left by the winner was the printing and donation of Insurance books to secondary and tertiary institutions aimed at deepening insurance awareness.

Okonta noted that the award, which started two years ago with the recognition of two distinguished individuals and an underwriting company, has now come to stay.

"This year, we decided to raise the bar by setting high standards to judge the operations of companies and impacts made by individuals in moving insurance and pension business forward.

"To achieve this, we gave the public the opportunity to select those to be celebrated by calling for votes. Having harmonised the votes which came from different parts of the country, we benchmarked the scores with the set standard to arrive at the winners we are celebrating today," he said.

Others winners are AIICO Insurance Plc, Insurance company of the year; FUG Pensions Limited, Pension Fund Administrator of the Year; YOA Insurance Brokers Limited and Glanvill Enthoven Insurance Brokers Limited, Insurance Broker of the year.

Professional Excellence Award went to Professor Joe Irukwu; Best Professional Group went to the Chartered Insurance Institute of Nigeria and Association of Registered Insurance Agents of Nigeria; Corporate Brand went to Mansard Insurance Plc and Leadway Assurance Limited while Corporate Social Responsibility Award was won by Sovereign Trust Insurance Plc.

The organisers also recognised organisations that distinguished themselves, with Excellence Award. Organisations in this category include the National Pension Commission, Lagos State Pension Commission, Goldlink Insurance Plc and Pension Transition Administration Directorate.

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