Amazon Makes Plans to Create Health Insurance Comparison Business
Amazon has made many strides towards getting into the healthcare market. The latest news is in talks with European insurers, regarding the creation of a U.K. price-comparison site. This comparison site would go with the motives of Amazon over the past few months, such as the purchase of Pillpack. There is even the combined venture between CEO’s of Amazon, Chase, and Berkshires to “fix healthcare”. The company plans to succeed, and this project will strengthen their position in the healthcare market. Today, we will look at Amazon’s talks with insurers and what we can expect from an Amazon-run insurance comparison.
Health Insurance Comparison
To begin, it is not for certain if these insurance products will be directly sellable by Amazon or if this site will be purely on quoting carriers. It is also interesting that the company seeks out European Insurers, instead of going to those in the United States. Three of the visited Insurance executives said there was no imminent launch plans nor a clear idea of which insurance services would be offered. It was revealed that the company hopes of putting insurance companies products on the site having consumers purchase their needs essentially online. Amazon already uses this system with their current business model offering price-comparison service for products on its website.
The company has taken many steps this year and it can have a major effect on our health market. Amazon would be able to supply medical equipment and medical supplies countrywide with its delivery services. With the purchase of Pillpack Amazon would be able to provide mail order and retail pharmacy opportunities over the phone or online, conveniently sent to your door. The company is an expert in negotiating prices and can take its expertise in partnering with PBM to lower prices. The companies Alexa and Echo can offer voice-activated services such as home health or even telemedicine in the future. With the potential of Amazon, Healthcare has the possibility to look a lot brighter. Stay tuned for more updates on Amazon’s Healthcare entry.