E-commerce giant Amazon has unveiled a new platform for home insurance to cater to its customer base across the UK.
The Amazon Insurance Store aims to offer a ‘simple’ and ‘transparent’ experience for customers shopping for home insurance online.
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The new platform, integrated with amazon.co.uk, provides a simplified quote questionnaire enabling users to review and compare like-for-like quotes, select a policy and checkout.
For its initial launch, Amazon has collaborated with three insurers including Ageas UK, Co-op, and LV= General Insurance.
The company said it plans to add more insurance firms to the store in 2023.
Amazon European Payment Products general manager Jonathan Feifs said: “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.
“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.”
Once logged in, the platform presents a short questionnaire to customers. Following this, users can compare quotes and also customise policies to suit their needs.
Once a policy is finalised, customers can checkout via their selected payment method on Amazon.
Additionally, the platform updates quotes in real time for the convenience of the users.
The online store will have all policies starting with the same level of cover, dubbed the Amazon Standard of Cover. This features policies that offer protection for common home insurance claims.
Further, the store will display customer reviews, ratings, and claims acceptance rates to help new visitors make informed decisions. Initially launched for select customers, the store will see a full rollout across UK by the end of this year.
