Amazon launches insurance in the UK

In the UK, Amazon recently launched a website to compare and buy insurance. In addition to shaking up the comparison market, the company is sending a new signal about its future business expansions: financial services.

Currently, the Amazon Insurance Store offers UK deals from three insurers, with the ambition to add others over the months. If the selection is limited, so will the buyers. The platform is available to a handful of customers who already have an Amazon account.

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Amazon Insurance Store Homepage

Amazon Insurance Store website. Image: Amazon.

Buying home insurance online is a well-established experience, and our goal is to exceed customer expectations for the Amazon Insurance Store. This launch is just the beginning explained Jonathan Feifs, general manager of payment products in Europe at Amazon. ” We will continue to innovate and make improvements with the aim of satisfying customers and providing them with the most convenient shopping experience possible.. ยป

The giant therefore wants to establish itself in an already mature sector that faces competitors such as GoCompare, Moneysupermarket or even Uswitch. On the experience side, users will be able to subscribe to a service without leaving the site because of the connection to their Amazon account. On the product side, they will mainly find home insurance and insurance for various goods.

Price list for Amazon insurance coverage

Price list for Amazon insurance coverage. Image: Amazon.

This launch is a continuation of the giant’s attempts at activities parallel to those of the marketplace. Amazon already offers financial products on UK soil. In addition to gift cards and debit and credit cards, there are microcredit or split payment services thanks to a partnership with Barclays bank. In the US, the e-commerce giant has expressed interest in Signify Health, a technology platform for health insurance and medical players.

Are the tech giants becoming real providers of banking services? They seem to have a tendency to do so, although it must first go through approximations to historical actors. In the US, in addition to the Apple card, Apple has launched an offer for a savings account with Goldman Sachs.

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