(Reuters) – Amazon.com Inc said on Wednesday it was launching a home insurance portal in the UK, where companies such as Ageas UK, Co-op, and LV= General Insurance will provide third-party services.
The portal, Amazon Insurance Store, will also include customer reviews and ratings on insurance companies and the rate at which the claims were accepted for policies offered, Amazon said.
Last year, Amazon partnered with Lloyd’s broker Superscript to offer insurance to small and medium-sized UK business customers.
Moneysupermarket.com’s shares slumped on Wednesday following the news on Amazon’s foray into the insurance-price comparison market.
(Reporting by Rhea Binoy in Bengaluru; Editing by Anil D’Silva)