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How the 'Amazon Effect' is Infiltrating the Insurance World

The rumors continue to swirl about Amazon's entry into the insurance space. Its first step appears to be developing a UK-focused insurance comparison site, according to Reuters. Given Amazon's deep capabilities as a marketplace, and its consumer reach, such a move is a reminder that even the insurance sector is not immune to the power of the Amazon effect. Amazon is already in the home with Alexa and top of mind with Prime, so it's a natural extension of its reach designed to benefit consumers. A few years ago, Google similarly tested an insurance comparison site that failed.