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Wednesday, January 26, 2022

Amazon forays into financial services with the launch of auto insurance in India

Amazon India has announced that it has started offering auto insurance in the country. It covers two and four-wheeler vehicles. It marks the company’s first foray into this financial services category globally. Amazon has inked a deal with Mumbai-headquartered Acko General Insurance. For reference, the e-commerce giant is also an investor in Acko.

Acko official said that the company was planning to expand its insurance service to offer coverage on health, flight, and cabs. As of now, the auto insurance is available to customers through Amazon Pay on the company’s website and app. Amazon claims that buying insurance will take less than two minutes and requires no paperwork.

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“This coupled with services like hassle-free claims with zero paperwork, one-hour pick-up, 3-day assured claim servicing and 1 year repair warranty – in select cities, as well as an option for instant cash settlements for low value claims, making it beneficial for customers,” it added.

Moreover, Amazon Prime customers will be able to access additional benefits and discounts. However, the company hasn’t specified those benefits yet.

Source: TechCrunch

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