The Next Industry Facing the Amazon Threat? U.K. Insurance Sites
- U.S. giant may encroach on Moneysupermarket, GoCompare turf
- Analysts see significant medium-term threat to incumbents
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Amazon.com Inc. has disrupted countless markets, including groceries, prescription-drugs and even pet food. The latest to face the tech giant: U.K. insurance price-comparison websites.
Shares of GoCompare.com Group Plc fell as much as 10 percent, while peer Moneysupermarket.com Group Plc dropped 4.7 percent in London trading after Reuters reported that Amazon is holding talks with insurance companies regarding creating a rival website. Admiral Group Plc, the U.K. car insurer which owns comparison service Confused.com, fell as much as 2.4 percent.