UK - Amazon considering ins. comparison site
Friday, 08 17 2018, Category: Technology, Country: United Kingdom
Amazon.com Inc is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s financial services.
Three industry executives told Reuters they had held talks with Amazon about the possible launch of a site. One said the talks were part of several discussions Amazon is having with insurers. A second said there were no imminent launch plans.
While it was not immediately clear what type of insurance would be sold on any Amazon site, home and motor policies are popular sellers on existing UK price comparison sites.
“As Amazon becomes a larger part of the home, whether it’s products delivered to the home, security monitoring, home services like Wi-Fi installation, you can make the case that insurance is the next logical step for this company,” said Morningstar analyst R.J. Hottovy.
The industry sources declined to be named as the talks are confidential. Amazon declined to comment.
An Amazon price comparison website for insurance products would be a potential challenge to existing UK sites given the U.S. company’s cutting-edge technology, reach and loyal customer base.