Photograph by Joel Saget — AFP/Getty Images

It’s a natural next step with businesses like Nest.

Google is looking to establish partnerships between insurance companies and some of its businesses, including Nest, which makes smart thermostats and smoke detectors, the managing director of its French division said.

But the U.S. firm was not focusing on entering the insurance market directly, Nick Leeder added.

“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 said during a panel discussion at the reinsurance industry’s annual meeting in Monte Carlo on Tuesday.

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

More than 40% of insurers see Google GOOG -0.37% as a potential rival and threat because of its strong brand and ability to manage customer data, a report from consultants Capgemini earlier this year found.

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But that was not where Google was directing its efforts.