Amazon could launch insurance comparison site

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Amazon is understood to be preparing to launch an insurance price comparison site in the UK, as it positions itself to place its stamp on yet another sector.

According to Reuters, three industry executives from some of Europe’s top insurance firms have held talks with Amazon about the launch of the site.

Though it is not yet clear which type of insurance would be featured on the site, it is understood that home and motor policies could be the leading contenders.

Its foray into the market would pose a challenge to the UK’s leading sites like GoCompare and comparethemarket.com but would also build on the company’s Amazon Protect service, which offers extensions to manufacturers’ warranties.

Other signs that Amazon could be considering the launch of an comparison venture include job adverts placed last year for a new insurance business, but gave no further detail.

It also already offers a service in the US in partnership with insurers Berkshire Hathaway and JP Morgan which can be used to undercut healthcare costs, alongside a separate small business loan programme.

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