Amazon offers home insurance for U.K. customers

Amazon.com Inc. has expanded its scope of activities. The company will now also offer U.K. consumers home and property insurance from third-party providers.

The world's largest online retailer will initially provide customers with offers from LV=General Insurance, Ageas UK and Co-op, and other insurance companies will be involved in the coming months. Sales begin Wednesday.

The Amazon Insurance Store will display customer reviews, ratings and claim satisfaction levels for insurers, like other products sold on the site. Amazon will receive a commission from insurers for policies sold through the platform.

This venture marks Amazon's departure from traditional banks, which often sell insurance along with mortgages. The company aims to simplify the insurance-buying process by allowing customers to request and view quotes, choose a policy and check it out on its site.

According to Jonathan Feifs, general manager of Amazon's European payment products division, the project will expand further as it develops. It remains to be seen whether the company will expand into other markets or offer other types of insurance. Feifs also said that there are many different categories of insurance, and they will certainly always listen to customers to find other ways to exceed their expectations and make their lives easier.