Amazon (AMZN) to Offer Insurance to SMBs in UK

September 27, 2021 5:22 AM EDT

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Amazon (NASDAQ: AMZN) is preparing to start offering insurance to small and medium-sized businesses (SMBs) in the UK, according to the British broker Superscript.

This marks Amazon’s entrance into business insurance in the UK as Business Prime members will be allowed to buy insurance from Superscript. Earlier this year, Next Insurance started offering insurance for SMBs in the US through Amazon Business Prime.

According to Cameron Shearer, co-founder and CEO of Superscript, the insurance industry “needs to bridge the divide between insurers and customers by providing a quick, smooth buying process that is customer-centric.”

Services like content insurance, cyber insurance, and personal indemnity insurance will be offered to members of Business Prime. Amazon and Superscript plan to offer a 20% discount to attract new businesses to join them.

"As businesses come out of the pandemic and gradually resume normalcy, we want customers to have the best-in-class tools to run their business," Molly Dobson, Country Manager for Amazon Business UK & Ireland, said in the statement.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News