Choosing complex financial products like car, health, and travel insurance, as well as loans has always been a tedious process.
Since Singaporeans are known to love a good bargain, we are often obsessed with looking for the best deals, which oftentimes becomes a lengthy and time-consuming process.
Enter GoBear – one of the leading financial technology (fintech) firms in Southeast Asia.
The Singapore-based startup was originally launched as a metasearch engine in 2015, before transitioning into a financial services and data platform. It now works with over 100 financial partners, including banks and insurance providers.
To date, the platform has been used by over 55 million people across seven countries to search for more than 2,000 personal financial products.
Easily Find The Best Insurance, Credit Cards, Loans
Searching for information to find the best financial services can be daunting.
GoBear makes financial comparisons easy as it enables the comparison of insurance, credit cards and loans from different insurers and banks on a single platform.
This means that there is no longer a need to comb through different websites to learn about different financial services. The startup offers users side-by-side comparisons on various plans and packages, ratings and even user reviews to help them find the right product.
To start searching on GoBear, users simply need to input information about themselves, compare the desired products that’s suited to their needs, and select accordingly.
Its services can be broken down into five main categories: insurance, credit cards, loans, banking and finance.
Within each of the five categories are even more filters, or deciding factors, that one can utilise before making a decision.
For example, users can compare credit cards based on the amount of cashback or air miles offered, as well as the types of rewards and promotions available.
Within the ‘insurance’ category, users can select from health to home to travel and car insurance. In Singapore, if you own a car, car insurance is necessary under the Motor Vehicles (Third-Party Risks & Compensation) Act.
Searching for the best car insurance is hard work, as the factors that one have to consider are aplenty.
Perhaps the most important factor to take into consideration when choosing a car insurance policy is the amount of coverage it offers.
Some of the types of protection to look out for include medical coverage for yourself and the other party in an accident, car theft, and theft of belongings in your vehicle.
Undoubtedly, cost is another major factor when choosing any insurance policy and it is important to ensure affordability while maintaining a suitable insurance coverage.
With GoBear, users can easily compare car insurance in Singapore for free. Users simply need to key in their details in the online form to get a quote, and then decide on the plan that matches their needs and budget.
If you’re still confused about car insurance, GoBear also offers a complimentary consultation service to assist users in finding the best plan for themselves.
GoBear Listed As LinkedIn Top 10 Startups In S’pore
According to LinkedIn, GoBear is one of the top 10 startups in Singapore and has remained resilient during this tumultuous time as it continues to attract investment, employees and attention.
In the middle of the COVID-19 pandemic, it managed to raise US$17 million (S$23 million) in May, which brings its total funding to US$97 million (S$131.81 million).
According to GoBear, it plans to use this funding to expand its consumer financial services platform, insurance brokerage, and its digital lending services.
In line with its latter goal, GoBear has acquired digital consumer lender AsiaKredit in May for an undisclosed amount.
GoBear CEO Adrian Chng also shared that GoBear will focus on its “three growth pillars”: the digital lending business, an online financial supermarket that evolved from the company’s comparison services, and an online insurance brokerage.
Although the demand for travel insurance has fallen during the pandemic, GoBear continues to see a strong demand for its other insurance brokerage services.
It has already made significant headway into Southeast Asia and is poised to disrupt the historically underbanked region.
The resilient business model of the startup makes it a significant player in the growing fintech industry which has seen over half a billion in funding despite Covid-19.
To find out more about GoBear’s insurance services, check out their website here.
Featured Image Credit: Vulcan Post
This article was written in collaboration with GoBear.
