The Amazon Insurance Store is launching today, promising a new, simple, and convenient way for UK customers to shop for home insurance. Select customers will get access today, and it will be available to all UK customers on amazon.co.uk/insurance and the Amazon UK mobile app by the end of the year.
As a new business area for Amazon, they are incentivising customers to purchase home insurance with a £10 Amazon gift card when you take out a new policy.
The Amazon Insurance store offers an improved shopping experience for home insurance with like-for-like quote comparisons from three companies at launch, a streamlined and simple quote questionnaire, and a checkout experience integrated with amazon.co.uk.
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.
– Jonathan Feifs, general manager, Amazon’s European Payment Products
n developing the Amazon Insurance Store, Amazon worked with participating insurers to streamline one of the most burdensome aspects of the home insurance buying process: the quote questionnaire. Customers are only asked the essential questions required by insurers in order to receive a quote, simplifying the process. As more customers purchase policies, the store will populate customer reviews, star ratings, and claims acceptance rates so customers can make more informed purchasing decisions.
What this means is that if you’re needs are pretty standard, it will be an easy transparent way to purchase home insurance and compare three providers without answering reams of questions. However if your insurance needs are more complex, you may find that the coverage offered doesn’t quite meet your needs, even with the various add-ons on offer.
All policies in the Amazon Insurance Store start with the same level of cover, called the Amazon Standard of Cover, which includes protection for some of the most common home insurance claims. In developing the Amazon Standard of Cover, Amazon conducted comprehensive research on the UK home insurance sector to determine which aspects of home insurance are most sought out by customers. The Amazon Standard of Cover gives homeowners and renters additional confidence when purchasing a policy as it makes it easier to compare like-for-like quotes, review cover inclusions and exclusions, and then add to their policy if needed.
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.
– – Jonathan Feifs, general manager, Amazon’s European Payment Products
Amazon has partnered with three insurance brands for this initial launch: Ageas UK, Co-op, and LV= General Insurance. Each company has been carefully selected using a number of customer-focused criteria, including reasonable time frames for claims handling and resolution, and delivering on Amazon’s high-bar for customer service. Amazon will add more insurers to the Amazon Insurance Store early next year, giving customers even more selection.
