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MEDIA RELEASE
ATTENTION HEALTH and LIFESTYLE EDITORS
New survey shows comparison engines meet future needs of health insurance seekers
Friday March 7th, 2008: An online survey of 1,172 Australians has shown that two in three would be keen to use a “comparison engine” that could help them line up the different offerings of private health funds. Respondents said the main thing they want to be able to do is compare the funds “side by side”.
The survey was run on news.com.au between January 24th and February 11th 2008.
The poll showed that only one third of the respondents were satisfied with the level of information they could access about funds from traditional sources like brochures, advertisements and the web sites of the funds themselves.
The result may well indicate a strong future trend in how consumers will research financial and insurance products, according to Moneytime Director and co-founder Sam Khalil.
Moneytime recently launched a new comparison web site, starting off with private health insurance. It categorises options in intuitive, consumer-friendly terms (www.moneytime.com.au).
“I think it shows we are on the right track in developing the moneytime comparison engine,” said Khalil. “More than half of the respondents said they wanted to review their health insurance and Moneytime will provide them with the tools that allows them to do that via a simple, intuitive process.”
“The survey shows that one in two people who are looking at health insurance say the research experience is confusing. We are determined to take that confusion and time wasting out of the equation,” said Khalil.
Moneytime Director and co-founder David Miller believes comparison engines will become the norm in the future. “We are working on bringing more modules to market as soon as possible”.
“We’ve said before that we think comparison engines will become the preferred method for people to acquire financial & service products online. This survey convinces us even further that comparison engines really are the way of the future and that people are demanding this sort of engine now. So we are very excited about the ability of our technology to simplify purchase decisions that have traditionally been made overly complex.”
Ends
Issued on behalf of moneytime by Palin Communications
For more information on moneytime of the survey contact Martin Palin (0418 419 258) or Karina Candia (0402 307 056) at Palin Communications (02 9420 1387) or trial it at www.moneytime.com.au