Reuters reports that Amazon "is launching a home insurance portal in Britain and has signed up three big-name insurers as it pushes further into financial services across the globe … The new portal, Amazon Insurance Store, will also include customer reviews and ratings on insurance companies and the rate at which the claims were accepted for policies offered, Amazon said."
The story notes that "last year, 29.4% of UK consumers bought household insurance through price comparison sites in Britain, according to analytics firm GlobalData. Insurers worry that tech firms will steal a march on their business, and are keen to partner with them, offering them commissions for selling their products."
Reuters points out that this is just Amazon's the latest foray into the UK insurance area - it already has had a portal allowing small and medium sized businesses to access insurance products. "It started offering motor insurance in India in 2020 through Acko General Insurance and also provides product warranty insurance in Europe."
- KC's View:
-
Just part of Amazon's continued push into financial services, taking place roughly on a parallel track next to its continued push into healthcare, with all tracks leading - if it works - to an inextricable, inevitable connection to every part of our lives.
If you're into that sort of thing.
