Amazon Launches Insurance Comparison Business in the UK

Motley Fool2022-10-20

If burglars do slip past your Amazon Ring security camera, the e-commerce giant may soon have you covered.Amazon launched a new insurance-comparison service in the UK on Wednesday. It's moving into a ...

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Comments

tigernaut
2022-10-20
tigernaut
👍
Milankaka
2022-10-20
Milankaka
Ok
- Milankaka:
  Bye
- Milankaka:
  Hold
- Milankaka:
  Sell
- Milankaka:
  Buy
- WendyGoh:
  Lol

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It's moving into a fairly crowded market, running up against household names like Go Compare and Compare The Market, both of which are seared into Brit's brains thanks to advertising campaigns that make GEICO's motor-mouthing gecko seem sedate. But the new product could help Amazon generate even more cash.Amazon PremiumAmazon, of course, wants to do everything. This time, that ethos is bringing it to the insurance comparison business, a niche but lucrative industry that's particularly popular in the UK. Unlike Americans, who tend to shop for insurance directly, Brits favor price-comparison platforms like GoCompare and Moneysupermarket which help users navigate their options while taking a cut of any final sale in the process. In that sense, Amazon's price comparison tool, dubbed the Amazon Insurance Store, is not too dissimilar to the advertising ground game it's long run on its flagship e-commerce service, where it offers favorable product placement to companies willing to pay up. 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