With the recent launch of the Amazon Insurance Store, Amazon could become a “serious threat” to the ‘big four’ price comparison sites of household insurance – Compare the Market, Go Compare, MoneySuperMaket, and Confused.com – ruling the UK market, according to GlobalData.
Amazon’s reputation for digital expertise and value in the UK, alongside significant brand recognition – with a total of around 12 million Prime members – is the reason why Ben Carey-Evans, Senior Insurance Analyst at GlobalData believes the technology giant could offer a serious threat and significantly disrupt a model that has long been dominated by the ‘big four’.
