For the initial launch, Amazon partnered with Ageas UK, Co-op, and LV= General Insurance, noting that each company was 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.
The company plans to add more insurers to the Amazon Insurance Store early next year, giving customers even more selection.
The Store offers an improved shopping experience for home insurance with like-for-like quote comparisons that customers can trust, says Amazon, alongside a streamlined and simple quote questionnaire, and a checkout experience integrated with amazon.co.uk.
Jonathan Feifs, general manager of Amazon’s European Payment Products, commented, “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.”
The company states that the Amazon Insurance Store will also provide a more transparent way to shop for home insurance, suggesting that 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.
The Amazon Standard of Cover is the baseline cover that all policies in the Amazon Insurance Store start with. Amazon says that this will includes protection for some of the most common home insurance claims.
The development of the Amazon Standard of Cover entailed research on the UK home insurance sector to determine which aspects of home insurance are most sought out by customers, says Amazon.
It also notes that 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.
Feifs added, “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.
