Amazon has just announced insurance cover for Small & Medium Enterprises (SMEs) in the UK.
This is Amazon’s first foray into the insurance selling business, and we cannot be more excited. (2/8)
This is Amazon’s first foray into the insurance selling business, and we cannot be more excited. (2/8)
Amazon is only offering business-related insurance services, like protecting a company’s assets, providing coverage for cyber security as well as professional indemnity for now, but we believe this move has greater implications to the insurance industry as a whole. (3/8)
According to a recent survey, more than 50% of consumers are prepared to buy insurance from non-traditional players such as big tech firms, fairly due to the lack of a consumer-centric model from the current players.
(4/8)
(4/8)
Will this disrupt the insurance industry as we know it?
It's not that simple. (5/8)
It's not that simple. (5/8)
Though financial institutions are worried about tech firms stealing their business, especially after more and more people buy insurance online, the reality is that insurers and tech firms are more likely to forge a relationship than directly compete. (6/8)
Amazon’s insurance services are still likely to be underwritten by major UK insurers. This is because it is rather difficult and quite expensive for outsiders to enter the highly regulated insurance business. (7/8)
What are your thoughts? Let us know.
Also, we are currently experiencing unprecedented traffic on the Ditto Hotline. So if you don't want to wait, you can WhatsApp us and we will try to address your insurance queries- bit.ly/3eIrQy6 (8/8)
Also, we are currently experiencing unprecedented traffic on the Ditto Hotline. So if you don't want to wait, you can WhatsApp us and we will try to address your insurance queries- bit.ly/3eIrQy6 (8/8)
• • •
Missing some Tweet in this thread? You can try to
force a refresh
