Introducing Singapore's first health insurance comparison website

Comparing health insurance has never been easier

Jul 30, 2015
Introducing Singapore's first health insurance comparison website


Comparing health insurance has never been easier

Introducing the first health insurance comparison website in Singapore


SINGAPORE (28 July, 2015)GoBear, the comprehensive insurance comparison website for travel and car insurance, has now expanded its site to include health insurance. This makes it the first meta search website in Singapore to offer a free comparison of over 130 health insurance products. With an absence of complicated jargon, users can easily find and compare a broad range of health insurance plans which matches their profile and needs.

CEO Andre Hesselink, who helms GoBear, sees insurance search as a space that is both evolving and in flux. Insurance companies, agents and brokers are working with an ever-intensifying ecosystem of consumers’ wants and needs, coupled with industry-wide changes in technology.

“Today’s insurance buyers are mobile-first, multi-screen and social media savvy. To reach them, insurance companies will need to employ an increasing emphasis on simplicity in search.

The increasing traffic we see on GoBear Singapore proves the confidence users have in our comparison data. Our key priority now is to broaden the products on the GoBear platform as we continuously look to enhance the seamless user experience, with search, filter and quotes direct from the insurers.”


Key considerations when choosing health insurance

Unlike other forms of general insurance, the search for the right health insurance plan requires more consideration especially when the needs of more than one person in the family have to be taken into account.


Importance of Portability and Maternity features

Impending life stage factors, such as job mobility and maternity are integral to the decision process. Many have discovered that their company health insurance plans do not offer portability. This becomes an issue when they switch jobs and are required to work in another country. This scenario becomes more complicated if the policyholder is found to have pre-existing conditions as this often is not covered in the subsequent health insurance policy. Maternity is also another area of consideration as treatment costs could swell on occasions where there are complications.


The strain of inadequate coverage

Policyholders often only discover the adequacy of their coverage when they are alerted of a medical condition. Findings have suggested that areas such as hospitalization and surgery, coverage for outpatient and prevalent medical conditions such as cancer are limited. Based on the World Health Organisation’s Top 10 Causes of Death, ischaemic heart disease, stroke, lower respiratory infections and chronic obstructive lung disease have remained the top major killers during the past decade. Chronic diseases cause increasing numbers of deaths worldwide. Lung cancers (along with trachea and bronchus cancers) caused 1.6 million (2.9%) deaths in 2012 while diabetes caused 1.5 million (2.7%) deaths.


Depending on the treatment required and the patient’s condition, medical costs could go up to hundreds of thousands per year. Without adequate insurance coverage, patients could find themselves having to fund these huge medical costs.


Unbiased, Transparent and Complete

As part of upholding the unbiasedness, Go Bear also features a wide listing of user reviews on each insurance provider, giving users a different insight into the plans that they are considering.


At the same time, only the best matches are presented to each user, giving them an overarching view of choices, without being distracted by an excessive number of options. Hesselink explains, “This does not in any way compromise GoBear's unbiased presentation of information. We ensure that all insurers who are able to provide the right plan are represented in the consumer's choice to help the user find the insurance plan that best meets their needs.”


It is also on the basis of upholding unbiasedness that the payment and service facilitation is carried out by the insurer, broker or agent and not by GoBear.


GoBear currently lists over 130 health insurance plans on its website and will be adding more in the months to come. They currently offer over a hundred insurance plans for car and travel in Singapore.


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