Amazon could disrupt the re/insurance industry
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.
Feature first seen in Reinsurance News on 12/06/2018
