Online giant Amazon's bid for world domination shows no signs of slowing down, as it moves into the insurance market.

Not content with dabbling in everything from its TV streaming service to cashier-less convenience stores, the online retailer is to enter the UK price comparison insurance market, as reported by The Guardian.

Amazon Insurance Store will initially enable customers to search for home insurance from just three providers - Ageas, Co-op and LV=.

The UK's biggest comparison sites - Moneysupermarket, Comparethemarket, Go Compare and Confused.com - each have more than 100 insurers signed up for customers to compare deals.

Amazon already offers a number of financial products - from gift and credit cards to Amazon Pay.

The retailer said it aims to slim down the process and simplify tedious form-filling to "essential questions" only.

The UK price comparison sector is healthy, as consumers look for ways to cut costs. Earlier this week, Moneysupermarket reported a 15 per cent increase in revenue to £102m year on year in the third quarter.

Amazon looks likely to succeed in the market. The sector operates on slim margins, which Amazon is used to. It also already reaches the majority of UK households and holds a large quantity of valuable customer data, which it can use for targeting.

Rival Google made an earlier attempt to move into the market, but Google Compare was shut down in 2016.