MoneyHero, a financial product comparison platform and digital insurance brokerage, has introduced a new feature that simplifies the travel insurance buying process for users in Singapore and Hong Kong. The three-click purchasing feature aims to expedite the transaction process, allowing customers to select, review, and pay for travel insurance with minimal effort.
This update eliminates the need for users to repeatedly input personal details, cutting purchase time by over 75%. With this simplified approach, frequent travelers can quickly compare policies from 11 top insurers and complete their purchases efficiently.
The feature’s autofill function ensures a smooth experience, enabling faster policy selection and payment. According to MoneyHero, this streamlined process has already resulted in significant improvements in conversion rates, with the platform reporting up to a twofold increase in completed insurance purchases.
In addition to enhancing customer experience, the company’s digital insurance business has seen impressive growth, with a 54% revenue increase in the first three quarters of 2024.
Looking ahead, MoneyHero plans to expand this three-click purchasing feature to other insurance products and markets.
Related topics
