Amazon has opted to discontinue its UK home insurance venture, a comparison website that was launched in October 2022. The decision was revealed by Vassil Gedov, the head of the Amazon Insurance Store, who stated in an emailed message, “Over the last year, we have been evaluating various businesses and programs, and as a part of that, we’ve made the difficult decision to discontinue the Amazon Insurance Store.”
The move impacts the comparison website’s operations, and Amazon has assured customers who have purchased policies that there will be no alterations to their coverage, ongoing claims, or future claims during their policy term. Gedov added, “We will provide guidance to customers on any actions they need to take as a result of this change.”
During its brief existence, Amazon.com Inc. had collaborated with three insurers for this venture: Ageas UK, Co-op, and LV= General Insurance, a unit of German insurer Allianz. The initial plan involved offering third-party services and expanding the roster of insurers on the site.
A representative clarified that this decision exclusively pertains to the Amazon Insurance Store in the UK. The e-commerce giant’s foray into the insurance market faced a relatively short-lived run, emphasizing the challenges and complexities of navigating the insurance landscape.
