GoBear among Asia's fastest-growing fintech startups
March 23, 2016, 16:30 CET
GoBear, Asia's only impartial metasearch engine for insurance and financial products, celebrated its first birthday this month, recording 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 personalized comparisons. Established in 2015 by Aegon, this once 3-person outfit, has grown to nearly 50 employees today and established a strong market presence in Singapore, Thailand and Malaysia.
GoBear's expansion plans this year include the Philippines, Hong Kong, and Vietnam followed by Indonesia in 2017.
The latest addition to its suite of financial products offered in Singapore is a credit card comparison, which boasts the largest listing - of over 100 credit cards - in Singapore.
Combining Singapore and Thailand, GoBear currently offers more than 1,000 financial products for its users, with more than 95% of the Singapore market covered by its health, travel insurance, and credit card categories.
This May, GoBear will launch its highly anticipated loans comparison, extending its transparent comparison to a high-demand product across the region.
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 behavior. GoBear's unique coverage-score algorithm provides users with a clear indication of a financial product's benefit quality.
When stacked against the product's premium, the user is able to make a more informed and cost-effective choice based on their individual needs. After just one year in the market, GoBear has helped consumers to save an average of more than 20% in their premiums.
"The unique and powerful proposition of GoBear is our unbiased metasearch nature," explains GoBear CEO, Andre Hesselink. "The search experience has given users unprecedented transparency in financial products comparison, which is new to Asia."
Insurers adjusting their premiums
"Compared to a year ago we are seeing a trend for insurers on GoBear to adjust their premiums and provide better coverage. This is testament to GoBear's game-changing role in giving the consumer a strong voice.
"What GoBear has done, is put the decision making back into the consumer's hands and let their life-planning needs shape the future of the insurance and financial industry.
"Learnings from the past year, based solely on consumers' needs, have enabled us to help create new comparison services and products with even better user experiences, and more personalization.
"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."
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 democratizing financial shopping experience with its unbiased and personalized comparison process.
GoBear's user-oriented platform neither aggregate nor sell products. GoBear simply offers consumers a free and transparent comparison process based on their financial needs, and not influenced by service providers' advertising. The result is a user-friendly and informed experience that saves consumers both time and money.