Amazon enters the auto insurance market

Amazon enters the auto insurance market

Amazon is expanding its product line by making its first foray into the world of auto and bike insurance. Initially launched in India, Amazon will partner with Acko General Insurance to offer low-cost insurance contracts with the added benefit of special offers for Prime members. Auto insurance is now available and can be purchased through Amazon Pay, with plans suitable for both cars and motorcycles. Amazon says customers will be able to set up and purchase new policies in less than two minutes and without the need for traditional paperwork.

Amazon Pay

Adding to the convenience factor, Indian motorists will be able to benefit from paperwork-free claims, along with a three-day pick-up and hold time. Customers can use Amazon Pay to click through to checkout, while policy documents are delivered to the 'Your Orders' page as part of the fully digital process. Commenting on the launch, Vikas Bansal, Director and Head of Financial Services, Amazon Pay India, said: “Our vision is to make Amazon Pay the most trusted, convenient and rewarding way to pay for our customers. Delighted with the experience, there was a growing demand for more services. In line with this need, we are excited to launch a convenient and affordable auto insurance product that offers a seamless claims experience.” Amazon's previous automotive experiences involved installing its voice assistant in vehicles. Echo Auto was originally announced in September 2018 and was scheduled to go on sale later that year, but only arrived in the US a year later and in the UK in June 2020. Echo Auto gives you hands-free access to Alexa's 70,000 skills wherever you are, which means you'll be able to make calls, use your favorite music streaming services, listen to audiobooks, play games, and manage your reminders using Alexa's voice. orders.