Shares of some insurance companies dipped briefly Wednesday, after a report said Amazon might consider offering home insurance.
The Information reported Wednesday that, based on one anonymous source, Amazon had discussions about offering insurance in conjunction with its connected home devices. But, the report said, “There’s nothing that suggests Amazon has any concrete plans for insurance.”
Amazon did not have an immediate comment, the article said. The company also was not immediately available to comment in response to an inquiry from CNBC.
Shares of stocks like AIG and Chubb fell slightly but quickly rebounded after the report was released.
With offerings like handyman hiring, smart locks, doorbells and of course, Alexa devices, Amazon has increasingly become a presence in the smart home market. Indeed, the company is opening “experience showrooms” in Lennar homes, featuring connected devices. Amazon is also working on a project to disrupt health insurance.