The e-commerce giant provides a platform for selling home products, allowing customers to request and review quotes, select a policy and purchase it, all on its site.
Amazon’s adventure in the UK home insurance sector begins. The e-commerce giant now provides a platform for the sale of home products. Amazon will initially sell LV=General Insurance, Ageas and Co-op Insurance contracts, but new insurers will join in the coming months, announced the Seattle company.
The Amazon Insurance Store, this is the name of the platform, will display customer ratings, ratings, reviews and claims acceptance rates by companies, in a very similar way to how other products are sold. Obviously, Amazon will receive a commission for each policy sold.
In addition to expanding collaborations with other companies, Amazon’s plan is to take control of mortgage-related policy comparison sites. Amazon’s goal is to streamline the insurance buying processallowing customers to request and review quotes, select a policy and purchase it, all on its site.
“This is just the beginning,” said Jonathan Feifs, head of Amazon’s European Payment Products division. “There are many different categories of insurance, we are always listening to customers to find other ways to make their lives easier,” Feifs said.
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