October 08, 2012

Bank Systems & Technology is reporting on Walmart's announcement today of a partnership with American Express on a payment card. However, this is part of a larger move into financial services on the part of the retailer. Earlier this week, the company announced a partnership with MetLife to sell life insurance "in a box." This video from Bloomberg Businessweek is mostly from the Walmart perspective, but offers clues into how far the commoditization of insurance has gone: At one point the analyst notes that Walmart saw this as a product its customers "didn't have access to."

ABOUT THE AUTHOR
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, ...