Job advert reveals Amazon insurance ambitions

A job advert has revealed that online retailer Amazon is planning to shake up the warranties and product insurance market.

A recent report by research firm GlobalData claimed the online retailer was hiring so it can break into the insurance market in the UK and Europe.

The Amazon job advert for a London-based EU product insurance product manager, posted on business social media site LinkedIn, has shed further light on the Amazon insurance ambitions.

The advert read: “Product insurance is a young and dynamic program in Europe, present in the UK, Germany, France, Italy and Spain.

“Along with internal and external partners, we are re-defining the warranties and product insurance experience, disrupting the way traditional product insurance services are acquired and delivered and creating a new palette of services.”

It added: “We have ambitious plans to significantly grow operations in our current markets and create new, innovative products that will provide excellent customer experience and satisfaction.”

The job advert is now closed to applications.

Insurance Times has approached Amazon for comment, but none has yet been provided.

GlobalData’s report said that if Amazon were to venture into insurance, it would be a threat to current UK insurers because the online retailer has a good reputation, it is seen as a key service provider and it looks like leading the way in the prominence of smart, connected homes.

It claims UK insurers are “lightyears behind Amazon” when it comes to investing in technology and providing digital services.