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Amazon’s latest moves suggest that it is looking to crack the insurance market. Most recently, the online behemoth has invested $12m in digital insurance start-up Acko Technologies. Before that, reports circulated that Amazon was seeking to set up a motor MGA with UK partners and was hiring people with insurance skills in London. The industry needs to be prepared for an entrance by Amazon, which could happen within the next 12 to 18 months, according to Altus consulting director of general insurance Mark Andrews. The industry must act Insurers need to be wooing the giant, says Andrews, and proving that [...]

A day in the life of the richest person in the world, Jeff Bezos — who made $6.44 billion in one day and still washes the dishes after dinner Amazon founder Jeff Bezos is the richest man in the world. Bezos works hard, but his daily routine indicates that he's not addicted to work. His daily routine includes lots of family time, and even time allotted for washing the dishes. Jeff Bezos is now the richest person in history. He's also at the top of Forbes' annual list of the richest people on the planet, for the first time ever. [...]

Amazon Prime offers more than just two-day shipping — including its two-hour-delivery service, Prime Now. Amazon keeps adding more perks to its Prime membership. It announced last week that substantial discounts for Prime members would roll out in Whole Foods stores this summer. The total value of Prime benefits has been pegged at $785 a year in value, according to JP Morgan analysts. Taking that into consideration, even the recently raised price of $119 a year might seem like a great deal. Prime customers are Amazon's most frequent and valuable customers. CEO Jeff Bezos recently revealed that there were now [...]

Amazon has more than 100 million Amazon Prime subscribers around the world, Jeff Bezos revealed in a letter to shareholders. Leon Neal/Getty Images A big round number appears to have prompted CEO Jeff Bezos to finally lift the veil: "13 years post-launch, we have exceeded 100 million paid Prime members globally," he wrote in this year's letter to shareholders. He added that in 2017, more new members joined Prime than in any other year. The membership now costs $119 a year in the U.S. and lures people in with free two-day shipping and access to video and music streaming. Last [...]

Ten years ago, Amazon introduced the Kindle and established the appeal of reading on a digital device. Four years ago, Jeff Bezos and company rolled out the Echo, prompting millions of people to start talking to a computer. Now Amazon.com Inc. is working on another big bet: robots for the home. The retail and cloud computing giant has embarked on an ambitious, top-secret plan to build a domestic robot, according to people familiar with the plans. Codenamed “Vesta,” after the Roman goddess of the hearth, home and family, the project is overseen by Gregg Zehr, who runs Amazon’s Lab126 hardware [...]