Telerisk
No Result
View All Result
  • UK
  • World
    • Africa
    • Asia & Pacific
    • Europe
    • Middle East
    • Latin America
    • US & Canada
  • Technology
  • UK
  • World
    • Africa
    • Asia & Pacific
    • Europe
    • Middle East
    • Latin America
    • US & Canada
  • Technology
No Result
View All Result
Telerisk
No Result
View All Result
Home World Europe

Google eyes partnerships with insurers in France

by Melanie
November 16, 2016
google-france

Google is eyeing to enter the insurance market through partnerships with insurance companies.

The technology giant is looking to forge partnerships with insurance providers in France and some of its divisions including Nest, which manufactures smart thermostats, smoke detectors, and other security systems, said Google France Managing Director Nick Leeder.

Speaking during a panel discussion at the recent reinsurance industry’s annual meeting in Monte Carlo, Leeder said, “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.”

Leeder stressed that the company is not entering the insurance market directly.

“We’re clearer about the role that we can play and what we can add, and we are looking for partners.”

Insurance companies may be breathing a sigh of relief now that Google has confirmed that it is just seeking insurance partners.

According to a recent report from consultants Capgemini, over 40 percent of insurance companies deem Google as a potential threat owing to its strong brand and ability to manage customer data.

Google is now directing more of its efforts on healthcare.

Earlier this year, it shut down Google Compare, its price comparison website for motor insurance.

According to a report by Business Insider UK, teaming up with insurers to offer Nest products will help diversify the sales channels of Google.

Nest has struggled this year, which could have prompted Google to look for other means to sell its products, it said.

Google’s parent company Alphabet acquired Nest in January 2014.

In August, Nest teamed up with Southern California Edison to offer power bills discounts on Nest users, creating the incentive for existing customers to purchase a Nest product.

Through this alliance, the power company is able to provide less power to Nest-equipped houses, helping ease power shortages in this region.

Smart home products can help not only power companies but also insurance providers, Business Insider UK added.

Consumer IoT products help insurers make more informed risk determinations, create better payout models and ultimately expand clientele base.

Connected home products also help prevent disasters that need insurance payouts through their monitoring features, it added.

According to a study conducted by Accenture last year, an increasing number of insurers are integrating smart home products into their insurance package offerings.

The survey found that 17 percent of insurance companies have already introduced or are about to unveil smart home technology products and services. This figure represented an increase of 5 percent in 2015.

Tags: FranceGoogleNest
TweetShareShareShareSendSendShare

Related Posts

McDonalds-Russia
Europe

McDonald’s leaves Russia for good, cites risky operating environment

May 16, 2022
deutsche-bank-Frankfurt
Europe

Deutsche Bank HQ searched over suspicious money laundering investigation

April 30, 2022
SCOR head office Paris, France
Europe

French reinsurer SCOR sues Covea over ditched takeover bid

February 4, 2019

Top Stories

  • McDonald’s leaves Russia for good, cites risky operating environment
  • Toshiba initiates talks with 10 potential buyout investors
  • Spirit Airlines board rejects JetBlue takeover bid on antitrust risks
  • Deutsche Bank HQ searched over suspicious money laundering investigation
  • Businesses face tougher new biometric privacy laws
telerisk-logo

About us

Telerisk delivers business, financial and technology risks news, providing analysis, trends, opinions and more.

Follow us

© Telerisk Media Limited – All rights reserved.

No Result
View All Result
  • About
  • Cart
  • Checkout
  • Checkout
  • Checkout
  • Europe
  • Home
  • Latin America
  • Login/Register
  • Login/Register
  • Mega Menu
  • Middle East
  • My account
  • My account
  • My account
  • Plans
  • Sample Page
  • Shop
  • TDS Create Account Page – DEMO week_pro
  • TDS My Account Page – DEMO week_pro
  • TDS Payment Page – DEMO week_pro
  • Technology
  • UK
  • US & Canada
  • Video
  • World
    • Africa
    • Asia & Pacific

© Telerisk Media Limited - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?