GoBear Malaysia’s Among the First of Fintech Companies in the Sandboxby Fintechnews Singapore February 3, 2017
GoBear Malaysia works closely with with Bank Negara Malaysia and launches new Insurance products
GoBear Malaysia is first among FinTech companies to receive its stamp of approval to be a part of the Bank Negara Malaysia (BNM), Financial Technology Sandbox Framework. As Malaysia’s first and only unbiased meta-search engine for insurance and all things financial, GoBear Malaysia can now offer a full range of insurance products to consumers, starting travel insurance.
“GoBear aspires to be the key enabler and one-stop solution provider for users to compare the best financial products available in Malaysia. Being a part of this Sandbox Framework means GoBear works closely with Bank Negara Malaysia in ensuring that consumers get transparent and accurate information allowing them to compare confidently with us” says Iskandar Ezzahuddin, Country Director.
GoBear Malaysia As part of expansion plans to introduce new products for 2017, GoBear Malaysia kick starts the year with the launch of a popular financial product – travel insurance. With the travel comparison function now made available, the best travel insurance plan for the user is now seconds away. User search is customized based on the user’s destination, location and the type of travel coverage they are looking for without the input of any personal details.
“Travel insurance may seem like a simple product to select but a lot of times, many users simply check boxes on airline sites when they purchase air tickets and have no clear idea what they are insured for. GoBear’s philosophy of offering an easy, simple and unbiased comparison is perfect for travel insurance and is something that we’re very excited to launch” he adds
Since its launch in Malaysia in 2016, 9 months ago, GoBear offers a comparison suite of more than 200 credit cards and 23 personal loans available from various trusted banks to search, compare and select from. GoBear Malaysia expects to attract an additional 100% increase of new users from 2016 to its site progressively with the launch of new products in car, health and term life insurance throughout 2017.