Amazon India, Flipkart ready to tap Rs 35,000-crore online insurance market

After fashion, electronics and groceries, India’s two biggest e-commerce players Amazon India and Flipkart are ready to tap the Rs 35,000-crore online insurance market for the next level of growth. The online insurance market is so promising that Flipkart’s co-founder Binny Bansal and Amazon have made mega investments in the same firm in this space.

The two companies have been perfecting their game plans and scouting for partners for tie-ups. From general, life, auto, and travel to mobile phone safety insurance, both companies aim at getting the lion’s share in online insurance pie. The firms are also bringing senior hands in the insurance space to understand the sector and ready their plan. By the year-end, this could be the biggest vertical for these firms outside of shopping.