Amazon's Indian unit on Thursday said it will begin offering auto insurance, making India the e-commerce giant’s first market for the service. Amazon Pay, the India unit’s payments arm, has partnered with private firm Acko General Insurance to offer car and motorbike insurance, the company said in its blog. The insurance is currently available on Amazon’s app and mobile website. Customers of Amazon’s Prime loyalty programme — which promises free movies and music streaming as well as faster deliveries for an annual 999 rupees ($13.36) — will get extra benefits and more discounts, Amazon said.
The e-commerce giant also announced the opening of 10 new warehouses in the country, a move which help the company to widen its reach in a key growth market. The new warehouses will be set up in 10 cities including New Delhi, Mumbai and Bengaluru, Amazon further added. With the expansion, Amazon will have over 60 warehouses or fulfilment centres across 15 Indian states with an area equivalent to more than 100 football fields, the company said in a blog post.
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Amazon’s service will compete with local rivals including digital payments firm Paytm and insurance aggregator Policybazar, which is backed by SoftBank. India is one of the fastest-growing markets for Amazon, although it has had to face several regulatory hurdles and a backlash from traders over accusations of offering discounts.
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