To everyone’s surprise, Amazon has just made a sensational entry into the British insurance sector. It now offers home insurance there with three partners, including Ageas.
The UK insurance industry is one of Europe’s most digitally driven markets. Online comparators are flourishing there and forcing companies to be extremely competitive both in terms of price and coverage. Nowadays, the online purchase of home insurance has become the priority channel with approximately 40% of con…
The UK insurance industry is one of Europe’s most digitally driven markets. Online comparators are flourishing there and forcing companies to be extremely competitive both in terms of price and coverage. Nowadays, the online purchase of home insurance has become the priority channel with around 40% of contracts concluded in this way. It is therefore hardly surprising to see Amazon rush into this breach. This foray into the insurance sector is not a first for Amazon which, in addition to health cover in the United States, already sells auto contracts in India and insures certain SMEs as part of the Business Prime offer in the Kingdom. -United. But this is the first time that the world leader in e-commerce has tackled the home insurance market. It therefore launched last week and to everyone’s surprise an insurance comparator called Amazon Insurance Store. Reserved for Prime subscribers, it will be extended by the end of the year to all users of the site. If it is first of all a comparator, the online store is distinguished by the establishment of a basic offer common to all partner insurers, called Amazon Standard of Cover, which must meet the needs of most basic insurance for renters and landlords. For its debut, Amazon has partnered with three industry heavyweights: Allianz, Co-op (a British mutual group) and Ageas. The British subsidiary of the Belgian group is very active in the online market, which it has made a central element of its strategy. She has also been named “Insurer of the Year” three times a year by different entities.