What: Amazon accelerates on the UK personal finance market with the launch of an insurance price comparison engine.

Why it is important: the company continues to build a super-app similar to what can be found in China or India, by proposing an aggregate of various services without leaving its ecosystem. It is coming as a challenge for some department store companies which have managed to grow in a similar manner (El Corte Inglés, Falabella)

Amazon has launched a portal for buying insurance in the UK, in order to allow customers to compare prices. This follows Apple’s launch of a saving account in partnership with Goldman Sachs.

Amazon already offers online payments, co-branded credit cards, gift cards and instalment-lending services in the UK. Some of the products it sells also come with extended warranties, however the launch of an insurance aggregator in the UK could show an acceleration of the strategy into personal finance products.

Its portal will allow customers to compare and purchase insurance from providers without leaving its website, and Amazon will collect a commission on each sale.

Amazon breaks into the insurance market