Dr David Urpani, who co-founded iSelect in 2000, has announced the online launch of Moneytribe, a new free to use social platform set to revolutionise the way Australians access product offers and advice for their financial products.
Moneytribe provides a simple way for people to anonymously ask sellers to bid for their business by starting personalised competitions for their mortgage or health insurance. Sellers may then post tailored product offers and advice. The consumer can choose to buy from the offer that most appeals. Anyone can explore and respond to active competitions via the Moneytribe website, and competitions can be shared to social media.
“Moneytribe is not another price comparison website – it is a social platform that empowers consumers to engage with sellers in an entirely new and customer centric way where sellers and brokers compete for their business, with offers and advice that are viewable by a wider audience.” said Dr Urpani.
Dr David Urpani co-founded Moneytribe with fellow experienced entrepreneur Andrew Coates.
“Moneytribe is driven by our passion to provide better and easier ways for consumers to engage with financial product sellers on their terms. Most Australian consumers are now familiar with the benefits of shopping around to increase the chances of finding the right product tailored to their specific need. Moneytribe takes this valuable concept to the next level by giving consumers more control over how they engage with sellers and brokers and providers, and making this experience social.” said Dr Urpani.
Start a competition for your mortgages and health insurance
Moneytribe initially launched via an iPhone App late last year. Today’s announcement means consumers can now ask financial product sellers to make personalised product offers for their health insurance or mortgage business online via the Moneytribe website. Consumers anonymously post their product needs, product preferences and who they’re currently with, and prospective sellers have 14 days to make an offer via the free to use MoneytribeConnect online service.
All offers are viewable by other Moneytribe members as well as publicly via the Moneytribe website. When consumers see an offer they like they can either request a call back at a time that suits, or can click through to a seller supplied URL to get more information. There is no obligation or hard sell, and visitors to the service can share competitions to their social media feeds for advice from family and friends.
“Our ‘Start a Competition’ service enables consumers to request personalised offers tailored to their needs and interests, and they remain anonymous until they see something they like. With Australian private health insurance premiums due to rise by on average 5.6% in April this year and interest rates at historic lows, we felt health insurance and mortgages would be a good place to start. We expect to increase the range of products available over the coming months,” Dr Urpani added.
