MoneyHero Introduces Three-Click Travel Insurance Purchase in Singapore

SINGAPORE, March 04, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ:MNY) ("MoneyHero" or the "Company"), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, has launched a new three-click travel insurance purchase feature for its members in Singapore. This enhancement allows returning users to instantly purchase travel insurance in just three simple clicks, eliminating the need to repeatedly fill out forms and saving them over 75% of the time typically required for purchasing a travel insurance.

Frequent travelers often face the hassle of comparing multiple insurance policies before each trip. The new three-click feature simplifies this process, allowing MoneyHero Group members to easily compare travel insurance policies from leading insurers and complete their purchase in three simple clicks - select your preferred policy, review your details, and make payment.

Faster, Easier, and More Convenient Travel Insurance

This new feature simplifies the travel insurance experience by allowing MoneyHero Group members to:

        •        Compare real-time quotes from leading insurers

        •        Customize coverage to fit their travel needs

        •        Purchase insurance policies instantly without redirection to third-party sites

        •        Autofill personal details from previous purchases, skipping repetitive form-filling

        •        Receive immediate confirmation and policy issuance

By integrating this feature with SingSaver membership, MoneyHero provides a seamless experience, making travel insurance purchases as straightforward as booking a flight or hotel online.

Better for Customers, Stronger for Insurers

For customers, this means less hassle and faster access to coverage. For insurers, the simplified journey improves conversion rates, increasing policy sales and customer acquisition. MoneyHero has already seen up to 2x higher conversions on end-to-end insurance purchases and expects similar or better results with this new three-click feature.

Rohith Murthy, CEO of MoneyHero, said:

"Travelers today seek efficiency and convenience, and they don't want to waste time filling out the same forms every time they travel. They want a fast, seamless way to compare and purchase insurance with minimal effort. With this launch, we're saving our members' time, providing a smarter and more efficient way to purchase travel insurance. Our data indicates that reducing friction leads to higher completion rates for purchases—benefiting both our customers and our insurance partners. This new feature is integral to our commitment to making MoneyHero the go-to destination for digital insurance in the region."

Driving Growth in Digital Insurance

MoneyHero's insurance business is experiencing significant growth, with revenues from this vertical increasing by 54% year-over-year in the first nine months of 2024. The Company expects further acceleration as it enhances seamless purchase experiences across more insurance categories.

Currently, MoneyHero's travel insurance platform supports 11 insurers in Singapore and Hong Kong. Following the success of this new feature, the Company plans to extend three-click purchasing to additional insurance products and markets, further solidifying its position in the digital insurance landscape.

About MoneyHero Group

MoneyHero Limited (NASDAQ: MNY) is a market leader in the online personal finance and digital insurance aggregation and comparison sector in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines.  Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory.  The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit www.MoneyHeroGroup.com.

Forward Looking Statements

This document includes "forward-looking statements" within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group's growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "predicts," "intends," "trends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company's ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the "Group") operates; the Group's ability to achieve profitability despite a history of losses; and the Group's ability to implement its growth strategies and manage its growth; the Group's ability to meet consumer expectations; the success of the Group's new product or service offerings; the Group's ability to attract traffic to its websites; the Group's internal controls; fluctuations in foreign currency exchange rates; the Group's ability to raise capital; media coverage of the Group; the Group's ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group's ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group's strategic investments and acquisitions, changes in the Group's relationship with its current customers, suppliers and service providers; disruptions to the Group's information technology systems and networks; the Group's ability to grow and protect its brand and the Group's reputation; the Group's ability to protect its intellectual property; changes in regulation and other contingencies; the Group's ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group's industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company's expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

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