Amazon Takes Step Toward Insurance
The Times of India reports that Amazon is looking at injecting cash into Acko General Insurance, an online-only insurance start-up based in India. Amazon could invest roughly $15.6 million and develop financial products alongside the insurer. Amazon is the second company that Acko has been in talks with, but a previous discussion with Flipkart did not lead to a deal. When the deal is finalized, it is expected that Amazon will begin sales of its own financial products through its website. Although events in India may appear far from home, it may be yet another sign that the retailer is considering entering the insurance industry.