MoneyLoop was founded in January 2018, with the sole goal of enabling consumers to manage their unexpected emergency expenses better. We noticed that more than three out of five Australians do not have access to $3000 in an emergency, and one in five do not have $1000 in savings. This eventually makes claiming on their insurance product not only emotionally stressful but also financially.
MoneyLoop offers insurers the ability to lessen the financial stress on a customer, during the claims process, by providing a white-labelled interest-free finance solution for their customers to repay the excess in an easy to manage interest-free instalments.
MoneyLoop has an acceptance rate in the 80% region. We can do this because we have a custom built credit engine. This engine enables us to make better decisions about a customer's financial circumstances without the need to perform a full credit assessment.
We understand that some customers will require longer period of time to repay their excess. This is why we offer flexible payment solutions ranging from 2 months up to 4 months. This is to ensure that you are there for your customers when they need you most.