Amazon leads $12m funding spherical into on-line general insurer

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AutoInsuranceMM.Info – Inexpensive health insurance – Amazon leads $12m funding spherical into on-line general insurer

Move marks the tech large’s first step into the insurance sector in India.

Amazon has led a $12m (£9m) funding spherical in Mumbai-based InsurTech start-up Acko Technologies, the proprietor of on-line supplier Acko General Insurance, based on Economic Times.

The article claimed it was the primary funding the tech large has made in India’s insurance services sector.

Amazon declined to touch upon whether or not it’s seeking to make comparable investments within the UK market.

However, the news has come shortly after latest stories that Amazon is taking a look at coming into the UK general insurance sector.

Last week Insurance Age revealed that the company was working with UK insurers and constructing a panel of brokers.

Disruption plans
In addition, sister title Post wrote that Amazon had approached a lot of UK insurers seeking to provide motor insurance by way of its web site.

Last November the company marketed on job website LinkedIn for a product supervisor to take care of EU product insurance saying it might be ”disrupting the best way conventional product insurance services are acquired and delivered and creating a brand new palette of services”.

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