Amazon is looking into establishing a price comparison website for insurance plans, a new report states.
According to Reuters, the company is in talks with several insurance companies in the UK, with it thought that Amazon is looking to expand into the lucrative motor and home insurance policy market.
With Amazon already positioning itself as the go-to online retailer for many entertainment goods, and increasingly upping its presence in the home services market with its grocery sales and security products, insurance is a smart addition to the entire ‘life through Amazon’ package.
Though there are no immediate plans to launch the site, any such launch would put Amazon in competition with established players such as GoCompare and Compare the Market.
Comparison websites are one of the leading ways that insurers such as AXA and Hastings find their custom, and with Amazon’s Prime membership base very loyal to the service it’s likely it would prove popular for those that want to maintain all subscriptions under one umbrella.
Amazon, having already offered warranty extensions and co-branded credit cards, would in fact not be the first tech company to offer such insurance services. In 2016 Google ran a short-lived comparison service in the UK and US, but it lasted just a year due to a lack of consumer interest.