Amazon considering UK insurance comparison site: report
The logo of Amazon is pictured inside the company's office in Bengaluru, India, April 20, 2018. Picture taken April 20, 2018. REUTERS/Abhishek N. Chinnappa (Reuters)
Amazon.com’s next move could be into European financial services.
The online retail giant is reportedly sounding out some of Europe's top insurance firms to see if they would contribute products to a UK price comparison website.
Three industry executives told Reuters they had held talks with Amazon about the possible launch of a site. One said the talks were part of several discussions Amazon is having with insurers. A second said there were no imminent launch plans.
It is not yet clear what type of insurance products Amazon would be interested in.
The industry sources declined to be named as the talks are confidential. Amazon declined to comment to Reuters.
There is reportedly competition from existing UK sites.
Two of the most high profile are comparethemarket.com which shows products from insurers including AXA, Hastings and eSure.
Another would be GoCompare , which lists insurance from firms such as Santander and LV.
Tech-rival Google launched a financial services comparison site in the United Kingdom and the United States in 2016 but shut it down after only a year due to low traffic.