Amazon has launched its Amazon Insurance Store.
The online giant called it “a new, simple, and convenient way for UK customers to shop for home insurance.”
Customers can trust the store’s like-for-like quote comparisons, which provide an improved shopping experience for home insurance.
It is a streamlined and simple quote questionnaire, as well as an integrated checkout experience with Amazon.co.uk.
On Wednesday, October 19, the Amazon Insurance Store will be available to a limited number of customers.
By the end of the year, it will be available to all UK customers via amazon.co.uk/insurance and the Amazon UK mobile app.
Amazon’s 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.”
Amazon worked with participating insurers to streamline “one of the most burdensome aspects of the home insurance buying process: the quote questionnaire” in developing the Insurance Store.
Customers are only asked the questions that insurers require in order to receive a quote, simplifying the process.
The Insurance Store also offers a more transparent method of shopping for home insurance.
As more customers buy policies, the store’s customer reviews, star ratings, and claim acceptance rates will grow.
Customers will be able to make more informed purchasing decisions as a result of this.
Every policy in the Amazon Insurance Store begins with the same level of protection.
This is referred to as the Amazon Standard of Coverage, and it includes coverage for some of the most common home insurance claims.
The Amazon Standard of Coverage provides additional assurance to homeowners and renters when purchasing a policy.
It allows them to compare like-for-like quotes, review coverage inclusions and exclusions, and then add to their policy if necessary.
Feifs said: “Finding the right home insurance policy can be a time-consuming and confusing task, with quotes that often leave out essential coverage in order to lead with the lowest price.
“When we set out to create the Amazon Insurance Store, we wanted to improve the experience for customers shopping for home insurance so they could easily compare options and make an informed, objective decision—just like shopping on Amazon.”
Customers must first log into their Amazon UK account and complete a short questionnaire before purchasing a home insurance policy through the Amazon Insurance Store.
To mark the occasion, Amazon customers who purchase a qualifying home insurance policy through the Amazon Insurance Store will receive a £10 Amazon.co.uk gift card.
For this initial launch, Amazon has partnered with three insurance companies: Ageas UK, Co-op, and LV= General Insurance.
Each company was carefully chosen based on a number of customer-focused criteria, such as reasonable time frames for claims handling and resolution and meeting Amazon’s high bar for customer service.
Source: Retail Gazette