Amazon trend sees tech companies move insurance services in-house

Insurance Business America | November 01, 2019

Amazon trend sees tech companies move insurance services in-house
An emerging trend sees tech companies becoming in-house insurers for their workforces – a strategy that analysts say should be concerning for traditional insurance companies. Amazon recently became the latest member of Big Tech to bypass traditional insurers by trialling an in-house insurance and health benefit scheme called Amazon Care. The scheme will include virtual and actual care through apps, chat facilities, remote videos, and follow-up visits. Ben Carey-Evans, insurance analyst at GlobalData, said that there are many benefits to moving insurance services in-house.

Spotlight

John Heft brings to New Day Underwriting Managers over 25 years of environmental underwriting experience, including a solid base of real estate-focused work experience for a major brokerage firm, an insurance carrier, and an environmental consultant. Throughout his professional career, John has provided environmental risk management solutions for a variety of industry sectors including chemical, petrochemical, energy, manufacturing, commercial real estate, universities, and healthcare.

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Spotlight

John Heft brings to New Day Underwriting Managers over 25 years of environmental underwriting experience, including a solid base of real estate-focused work experience for a major brokerage firm, an insurance carrier, and an environmental consultant. Throughout his professional career, John has provided environmental risk management solutions for a variety of industry sectors including chemical, petrochemical, energy, manufacturing, commercial real estate, universities, and healthcare.