omniture

FinTech Startup GoBear Attracts 1.2M Users in Milestone First Year

Insurance & financial comparison site celebrates 50% month on month growth; Singapore HQ grows from 3-50; new products & markets announced
GoBear
2016-03-22 09:00 2907

SINGAPORE, March 22, 2016 /PRNewswire/ -- GoBear, Asia's only unbiased metasearch engine for insurance and financial products, celebrates its first birthday this month, recording a 50% month on month growth in usage since its launch last March. In just one year, over 1.2 million users have used GoBear for quicker and more personalised comparisons. Established in Singapore and led by CEO Andre Hesselink, the once 3-person outfit has grown to nearly 50 in strength today and established a strong market presence in Singapore, Thailand and Malaysia. GoBear's expansion plans this year will include Philippines, Hong Kong, Vietnam and in 2017, Indonesia.

The latest addition to GoBear's suite of financial products in Singapore is the credit card comparison, which boasts the largest listing of over 100 credit cards in the country. GoBear currently offers more than 1,000 financial products for its users in Singapore and Thailand, with more than 95% of the Singapore market covered for its health, travel insurance, and credit card categories. This May, GoBear will launch its highly anticipated loans comparison, extending its transparent and unbiased metasearch capabilities to a product in great demand across Southeast Asia.

User-Driven Platform Proved to Give Bigger Savings

The launch of GoBear has paved the way for an entirely new and transparent data-based consumer experience, helping them to save on average more than 20% on their premiums. GoBear's unique Coverage Score algorithm provides users with a clear indication of a financial product's benefits. When stacked against the product's premium, the user is able to make a more informed and cost-effective choice based on personal needs.

"The unique and powerful proposition of GoBear is our unbiased metasearch nature. This search experience has given users unprecedented transparency in financial products comparison, which is new to Asia. We are seeing a trend, as compared to a year ago, that insurers on GoBear are motivated to adjust their premiums and provide better coverage. This is a testament to GoBear's game-changing role in giving the consumer a strong voice. GoBear has placed the decision power into the consumer's hands – letting their life planning needs shape the future of the insurance and financial industry.

The learnings from the past year, based solely on consumer feedback and online behaviour, have enabled us to create new comparison services and products with even better user experiences, and more personalisation. The growth of our services could not have accelerated without 1.2 million users' confidence in our integrity. We will continue to innovate and improve the customer experience," Andre Hesselink said.

For more information about GoBear, please visit www.gobear.com.sg

About GoBear

GoBear is Asia's first and only metasearch engine in insurance and financial products. It was founded based on the simple premise that a consumer should find freedom and ease in choosing complex financial products like insurance, credit cards and loans. Headquartered in Singapore since early 2015, GoBear has established presence in Thailand, Malaysia and will continue to expand across Southeast Asia in 2016.

As one of the fastest growing fintech startups in Asia, GoBear is leading the way in democratising the financial shopping experience with its unbiased and personalised comparison process. GoBear's user-oriented platform neither aggregates nor sells products. GoBear simply offers consumers a free and transparent comparison process based on their financial needs, and is not influenced by service providers' advertising. The result is a user-friendly and informed experience that saves consumers both time and money.

Source: GoBear
collection