Amazon pushes into world of home insurance
Just when you thought Amazon sold pretty everything, the tech firm announces that it has launched a new home insurance shop.
The new offering will allow customers to request and review insurance quotes, select a policy, and then checkout—all on amazon.co.uk
The e-commerce giant firm only has three insurers signed up so far, including Ageas UK, Co-op, and LV= General Insurance, but said it plans to add more next year.
The Amazon Insurance Store is only available to some customers today, and will be available to all UK customers by the end of the year.
All policies will start with the same level of cover, called the Amazon Standard of Cover, which includes protection for some of the most common home insurance claims.
“Finding the right home insurance policy can be a time-consuming and confusing task, with quotes that often leave out essential coverage in order to lead with the lowest price,” said Jonathan Feifs, general manager of Amazon’s European Payment Products, in a press release.
“When we set out to create the Amazon Insurance Store, we wanted to improve the experience for customers shopping for home insurance so they could easily compare options and make an informed, objective decision—just like shopping on Amazon.”
By giving customers the chance to compare prices, Amazon also dives into the world of price comparison, putting it at odds with the likes of ComparetheMarket and MoneySupermarket.
He added that the launch was “just the beginning”, suggesting that the service could expand into other categories over time.
“As Amazon has shown in its retail marketplace, it may not be the cheapest supplier in town, but it’s the ease of use that gives it the edge over the competition, particularly as it has a ready presence as an app on millions of phones,” Susannah Streeter, senior analyst at Hargreaves Lansdown, told the BBC.