AEGON N.V. announced on July 15 the rollout of GoBear, Asia’s first and only meta-search engine for insurance and banking services.
“With GoBear, Filipinos can now easily compare different financial products, including insurance, credit cards and loans, right from their computers or mobile phones,” a statement said.
According to Aegon, GoBear Philippines currently features travel insurance, credit cards and personal loans. There are plans to expand the web site’s services into the car insurance, car loans, home loans and health-insurance categories.
The free comparison site for insurance and financial products GoBear is a joint venture between Walvis—a private equity fund of the Family Fentener van Vlissingen (BCD Travel Group)—and Aegon, the latter said on its web site. “It was formed when the two Dutch companies sought opportunities to work together in Asia.”
GoBear was first launched in Singapore via Woodpecker Asia Tech Pte. Ltd. in March last year. Within seven months, the JV opened in Thailand and Malaysia. The company said its expansion plans for this year include Hong Kong and Vietnam, aside from the Philippines. It plans to roll out GoBear in Indonesia next year.
According to Aegon, GoBear recorded a 50-percent month-on-month growth in usage in its first year of business.
“While GoBear is home to a number of financial products locally, the web site does not sell nor promote any particular product,” Aegon’s statement said. “GoBear simply compares and aims to give users the power to choose what will best suit their needs.”