Amazon pay had made its first step into Insurance space. By partnering with Acko General Insurance Ltd. Its providing two and four wheeler insurance policies. The company claims that in less than two-minute customers can purchase insurance with no paperwork. Amazon Prime members are benefitted with additional discounts and benefits on their policy.
Amazon has made the purchase of insurance easier by amazon pay in partnership with Acko. The format of purchase is simple and hassle-free, with no paper works also enables customers to buy insurance effortlessly in a few steps. They provide 3-day assured claim servicing and 1-year repair warranty in selected cities. For low-value claims, there is an option for instant cash settlements.
From the Amazon pay page, customers can buy auto insurance or by searching it. With simple few steps, customers can get a quote for bike’s or car’s insurance. Customers can pay using Amazon pay balance, UPI, or any saved card and the policy will be seen the email of the customer within 2 minutes.
Some important terms and conditions of this service:
- All the insurance solicited by Amazon is issued by the insurer only. Amazon doesn’t pay the role of an insurer, and hence do not underwrite the risk any time.
- The purchase of an insurer’s insurance policy is at the sole discretion of the customer, and purely voluntarily.
- The contract will be between insurer and customer only.
- The case of a policy servicing or insurance claim, should be directly notified to the insurer and reach out to insurer in case of any assistance or requirement, related to the completion of formalities or provision of documentation.
Amazon reads the pulse of its customers, and have never failed them with their offerings. Amazon in its blog post said they want Amazon to pay to be the most trusted, convenient way and rewarding way to pay for their customers. Recently Amazon introduced an Amazon Pay later service in India which is a credit service, known to be the rebrand version of Amazon Pay EMI which was introduced in the country in September 2018.
Amazon pay lets to get instant credit through digital processes, for purchases from Amazon.in using EMI option. Such an option enables customers to purchase essential items from Amazon and pay in subsequent months with no additional charges. Highlighting part is users can convert the amount into EMI’s up to 12 months. Customers can avail this benefit for all products except for jewellery, Amazon Pay Gift Card, Balance top-up, products from Amazon Global store or bullion(Gold or silver).
