Online funeral marketplace aims to disrupt industry
Consumer funeral requests open to digital bidding.
A new online bidding platform is poised to disrupt the Australian funeral planning marketplace, providing independent funeral homes a forum to tender quotes directly to consumers.
Online consumer marketplace eziFunerals will launch later this month across all Australian capital cities.
eziFunerals is a digital marketplace where consumers can submit detailed funeral requests. These are distributed to independent member funeral homes that can respond with quotes within 24 hours.
Member companies bid on these requests and can, within the first 12 hours, update and re-quote costs.
Currently the Australian funeral trade is lead by ASX-listed Invocare, which incorporates leading brands such as White Lady, Guardian and Simplicity Funerals, maintaining a 33% national market share, according to eziFunerals. Invocare businesses will not be able to bid on eziFunerals claims.
Founder Peter Erceg said eziFunerals bridges the gap between retailers and consumers.
"This levels the playing field and puts the consumer back in the pilot’s seat in what is in effect an auction for their business by the independent funeral providers," he said.
In Australia, a typical funeral can cost between $4,000 and $15,000.
Funeral insurance provides families or individuals with finances to cover expenses.