Amazon could disrupt the re/insurance industryRSS icon

Written by Mark Andrews on 12 June 2018

Feature first seen in Reinsurance News on 12/06/2018

We have already seen Amazon launch Amazon Protect, its first product protection insurance cover, and partner with Berkshire Hathaway and JP Morgan on employee healthcare. If Amazon chose to target the insurance market more actively, the organisation would have a huge advantage over incumbents – not least due to its formidable brand reputation and large customer base.

Amazon could bypass lengthy questionnaires thanks to the customer data it legitimately holds, and streamline payments through their one-click process. However, the company would come up against difficulties if it endeavoured to move further into the market, such as being hit by more burdensome tax and regulatory requirements, and having to deal with a heavier load on its call centres and customer service operations.


Enjoy this article?

Why not share it...

Company News

  • Robo-advice threat is a race against time
    Written by Jonathan Warren on 7 August 2018

    Concerns about robo-advice are lapsing amongst financial advisers, but financial service providers should not entirely dismiss the risks posed by robo.

  • Giving Your Platform Wings - Altus Latest Whitepaper
    Written by Ben Hammond on 13 June 2018

    Six years ago we released a white paper, The Platform Machine: Tuning for Efficiency. In it we discussed that, in spite of ever increasing levels of Assets under Administration, all was not well in platform land. Revenues were rising across the board, but costs were outstripping them, in many cases significantly so. Now, five years later, we are releasing Giving your platform wings, a white paper re-evaluating the current platform industry.