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Technewsworld: Amazon Considers Site on UK Insurance Comparison, Sources Say

Amazon is calling various top insurance firms in Europe to check if they are willing to contribute products to a UK price comparison website. This is one of Amazon’s major ventures into the financial services of Europe.

According to three industry executives, they already held discussions with Amazon with regards to the possible launching of the site. As per one executive, the talks were part of Amazon’s various discussions with insurers. Meanwhile, there were no forthcoming plans for the launch, the second one said.

Two of the popular sellers on the current UK price comparison sites were home and motor policies.

FinanceBrokerage - Technewsworld China’s GCL plans to produce electric car in new eco-town
China’s GCL is set to produce electric cars in new eco-town

“As Amazon becomes a larger part of the home, whether it’s products delivered to the home, security monitoring, home services like Wi-Fi installation, you can make the case that insurance is the next logical step for this company,” said Morningstar analyst R.J. Hottovy.

With its cutting-edge technology reaching and loyal customer base, Amazon sets the potential of a price comparison website for insurance products which would challenge current sites in the UK.

Comparethemarket.com and GoCompare were the two of most high profile sites. On one hand, Comparethemarket.com displays products from insurers including AXA, Hastings, and eSure. GoCompare, on the other hand, shows insurance firms list like Santander and LV.

The potential UK insurance site would also help to create the Amazon Protect service. This service provides extensions to manufacturers’ warranties on the current Amazon products available in Europe.

“A price comparison website, in particular, could also be used to help drive traffic to its other marketplaces,” Hottovy said.

Dated back in 2016, Google made its launch on a financial services comparison site in the United Kingdom and the United States; however, it was removed after a year because of its low traffic.

Technewsworld: China’s GCL plans to produce electric cars in new eco-town

GCL, the leading solar equipment manufacturer in China, sets plans in producing electric cars in new eco-town. The company’s aim of this move is to use its expertise in energy to gain a vital competitive advantage into the electric vehicle sector.

Presently, GCL is building a solar production base in a new eco-town, which is located in Jurong near the city of Nanjing, worth 5 billion yuan ($721.19 million). Further, this eco-town will also build solar-powered residences, warehouses, and public amenities.

According to Tang Yanzhe, the head of the Jurong project, the company is currently engaging with the auto manufacturers for the construction of facilities and production lines in Jurong. This is to support the electric vehicle revolution in Beijing.

“Our investment figures are very conservative and if the car firms come, it is a long industrial chain and many supporting factories will also come,” he said.

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