Market Overview

Insurance Stocks Shaken Amid Report Amazon Could Enter Home Insurance Market

Insurance Stocks Shaken Amid Report Amazon Could Enter Home Insurance Market

As it advances its infiltration of American homes,, Inc. (NASDAQ: AMZN) is considering a foray into home insurance, according to a Wednesday report from The Information.

Why It’s Important

The offering, in itself, introduces fresh competition for existing insurers. However, Amazon’s complementary product portfolio could make this alternative particularly threatening.

The Information suggested Amazon would use its Alexa-powered smart devices installed in client homes to monitor threats, collect regional data and calculate appropriate rates. This could give way to cheaper premiums and entice budget-conscious homeowners.

Progressive Corp (NYSE: PGR) fell 2.5 percent, Allstate Corp (NYSE: ALL) 2.4 percent, Chubb Ltd (NYSE: CB) 1.4 percent, Travelers Companies Inc (NYSE: TRV) 1.3 percent, Hanover Insurance Group Inc (NYSE: THG) 0.6 percent and American International Group Inc (NYSE: AIG) 0.8 percent on the news. All recovered shortly.

What’s Next

Amazon has not yet confirmed the report, and while company rumors do not always play out, as in the case of alleged pharmaceutical pursuits, Amazon has tendrils in diverse sectors and continues to make moves to expand its breadth of services.

Related Links:

3 Ways Amazon Could Transform Health Care

Amazon, Berkshire, And JPMorgan Are Creating A Heath Care Company


Related Articles (AMZN)

View Comments and Join the Discussion!

Posted-In: Alexa The InformationNews Rumors Movers Media Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at