Amazon in Talks Regarding U.K. Insurance Site

Amazon is in talks with European insurers regarding the creation of a U.K. price-comparison site, according to Bloomberg, citing a report from Reuters based on information from the people familiar with the matter.

It is unclear what insurance products would be sold, and there are no imminent plans to launch a site, the news agency said. Amazon is sounding out some of Europe’s top insurance firms to see if they would contribute to a U.K. price-comparison website, Reuters reported.

The U.K. insurance-comparison market is highly competitive, with comparethemarket.com and GoCompare.com the major providers. Amazon, which declined to comment, does offer a service called Amazon Protect, which provides accident insurance on consumer goods.

While Amazon has an extensive price-comparison service for products on its website, a separate offering for insurance policies would be a new market for the U.S. giant. It has previously invested in Indian-based digital insurance startup Acko Technologies, and also placed job adverts for insurance product managers in insurance. Amazon said it is “disrupting the way traditional product insurance services are acquired and delivered and creating a new palette of services,“ according to an internal job advert.