Amazon launches insurance comparison site

Amazon has announced the launch of its home insurance comparison online business for its UK customers. Called the Amazon Insurance Store, the service works with three participating insurers, with more to be added in due course.

“Shopping online for home insurance is a well-established experience, and our goal is to exceed customers’ expectations when it comes to the Amazon Insurance Store,” said Jonathan Feifs, general manager of Amazon’s European Payment Products. “This initial launch is just the beginning—we’ll continue to innovate and make refinements, all with the aim of delighting customers and providing the most convenient shopping experience possible.”

Amazon has partnered with three insurance brands for this initial launch: Ageas UK, Co-op, and LV= General Insurance.

According to a press release, Amazon has worked with participating insurers to streamline one of the most burdensome aspects of the home insurance buying process: the quote questionnaire. Customers are only asked the essential questions required by insurers in order to receive a quote, simplifying the process. The Amazon Insurance Store also provides a more transparent way to shop for home insurance.

All policies in the Amazon Insurance Store start with the same level of cover, called the Amazon Standard of Cover, which includes protection for some of the most common home insurance claims. In developing the Amazon Standard of Cover, the company conducted comprehensive research on the UK home insurance sector to determine which aspects of home insurance are most sought out by customers. The Amazon Standard of Cover gives homeowners and renters additional confidence when purchasing a policy as it makes it easier to compare like-for-like quotes, review cover inclusions and exclusions, and then add to their policy if needed.