Amazon is leading the $12m investment in Indian insurtech Acko according to Techcrunch. The direct insurer currently offers automobile insurance and ‘internet economy’ products. The latter includes e-commerce products as well as passenger coverage for Uber competitor Ola.
While the companies haven’t yet finalized products, the initial joint project is likely to be around gadget protection for Amazon sales in India.
Last year Amazon UK launched Amazon Protect which covers gadget and white goods purchases. The insurance is in partnership with The Warranty Group and covers theft as well as damage. Before it became Dixons Carphone, for years, Dixons was the leading electronics retailer in the UK. They were notorious for making a significant proportion of their profits from warranties.
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