Amazon launches UK portal for buying insurance


In the latest indication of Big Tech's growing ambitions in financial services, Amazon launches a portal for buying insurance in the UK.

In the UK, Amazon already offers "buy now, pay later" services, co-branded credit cards, gift cards and instalment loans.

A week after Apple announced a new high-yield savings account with Goldman Sachs, Amazon unveiled a home insurance comparison service.

But the launch of an insurance aggregator in the UK could pave the way for a more expansive push into personal finance products in one of its largest markets outside the US.

Although it currently has only three insurance providers, Amazon wants its portal to compete directly with Moneysupermarket, Uswitch, Compare the Market and GoCompare.

Acko offers car insurance in India through a partnership with Acko for products purchased through its online store.

Unlike the US, where most insurance is purchased directly, Britain is one of the world's most active price comparison markets.

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