Amazon is launching a portal for buying insurance in the UK, challenging established price comparison sites in the latest indication of Big Tech’s growing ambitions in financial services.
In insurance, it offers extended warranties for some products purchased through its online store and, in India, car insurance via a partnership with Acko. But the launch of an insurance aggregator in the UK could pave the way for a more expansive push into personal finance products in one of its largest markets outside the US. Jonathan Feifs, Amazon’s general manager for payment products in Europe, said Wednesday’s launch of home contents and buildings insurance was “just the beginning”. “Certainly, there are opportunities to improve other insurance shopping experiences as well,” he said.
https://www.ft.com/content/c68373ad-4deb-46f8-afaf-90a79de84862