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Amazon Pay, which is the payments arm of e-commerce giant Amazon, on Thursdaysaid it has launched car and bike insurance along with Acko General Insurance.
“Amazon Pay marked its foray in the insurance space by offering two- and four-wheeler insurance policiesin partnership with Acko General Insurance. Customers can now purchase insurance in less than two minutes with no paperwork,” it said on its blog, adding that prime members get extra benefits, including additional discounts.
The move is significant, given that several payment companies, including Paytm, have forayed into the insurance sector in recent months.
Customers can buy auto insurance from the Amazon Pay page or search for it, it said, adding that a copy of the policy can also be downloaded from ‘Your Orders’ page.
“…there has been a growing demand for more services. In line with this need, we are excited to launch an auto insurance product that is affordable, convenient, and provides a seamless claims experience,” said Vikas Bansal, Director and Head of Financial Services, Amazon Pay India.
Varun Dua, CEO, Acko General Insurance, said: “Through this product we aim to deliver a superior consumer experience right from purchase to claims by making it more affordable, accessible and seamless.”
Amazon Pay has also been focussing on various payment products. Earlier this year in April, it had launched Amazon Pay Later service that extends a virtual line of credit to eligible customers shopping on Amazon.in.
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