Amazon started as online book store and has grown to be the worlds largest online retailer.
Amazon product insurance under consideration in Europe
Clues from various online job sites suggest that Amazon product insurance looks like a sphere into which the marketplace is keen to expand into further. And the focus seems to be specifically related to Amazon’s European business.
As reported, ads on the likes of LinkedIn have been looking for staff who are potentially interested in working in insurance.
As one job ad online said: “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.”
Another job spec asked: “Would you like to take part in launching a new business?”
Amazon Product Insurance isn’t new. The Amazon Protect scheme launched in The UK back in April 2016. And it was swiftly quickly to include the other four European markets of France, Germany, Italy and Spain.
The insurance policies provide shoppers with an extension on manufacturers’ two-year warranties for up to five years, whilst also insuring against accidental damage, breakdown and theft. You can read a bit more about Amazon Protect offering here.
The policies are underwritten by The Warranty Group. And neither they nor Amazon have commented on the moves. But job ads have proven to be useful runes for divining Amazon’s moves behind the scenes in the past.
Additional insurance policies can be a lucrative sideline for retailers and, especially when provided by third parties, they are relatively risk free for the likes of Amazon. But these adverts do raise the possibility that Amazon may be seeking to offer such warranties themselves rather than through a separate company.
Have you used Amazon Protect?