Even Death Can Be Digitally Disrupted

February 7, 2017
Advertisement

A Western Australian digital entrepreneur is on the verge of digitally disrupting the business of one of the ASX’s most reliable and consistent performers of recent years with a world first integrated funeral planning and bidding online platform.

Invocare (ASX: IVC) has a market cap of around $1.48B; its share price has climbed significantly over the last five years and it’s increased its dividend every year since 2005. It has many brands including White Lady, Guardian and Simplicity Funerals. To many pundits, it’s an infallible defensive stock with 33% market share, multiple brands across multiple price-points and a market (i.e. death rate) that is largely independent of economic cycles or government policy; indeed the ABS projects an increasing death rate through to 2034.

Its status within the funeral industry is undisputed – its 33% market share is even larger in Peter Erceg’s home town of Perth where some experts believe it is beyond 40%.

Advertisement

However it was this market size and power, largely obtained through strategic acquisition, that gave Mr Erceg the idea of a consumer focused digital disruption site which excludes Invocare and only allows for membership from independents.

“The ACCC has repeatedly let Invocare’s aggressive growth from acquisition through to the keeper,” Mr Erceg said

“My view is that if the regulators won’t stop the funeral market becoming increasingly oligopolistic, and the power going to a supplier instead of the consumer, then I will,” he said.

“eziFunerals is about choice – the consumer logs their request online and specifies in detail the options they want in a funeral. This request goes out to our (independent) member funeral homes who can opt to quote line-by-line to specified requirements within 24 hours. The consumer and respondents see the transparent quotes come back in and before the 12-hour mark can sharpen their pencil and re-quote.”

Mr Erceg said that whilst he originally considered eziFunerals as being open to all funeral homes including Invocare, he decided that the independents needed a way to get back into the frame.

“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.

The eziFunerals system allows the consumer to request quotes to their specification for a fee of $9.95. The respondents’ quotes are easily comparable with a transparent, line-by-line comparison of variables such as:

  • The type and style of funeral service
  • Preparation of the body and viewing arrangements
  • Burial or cremation
  • The specific cemetery or crematorium
  • Type of coffin or casket
  • Minister or Celebrant
  • Memorial book and memorial cards
  • Death notices, flowers, mourning vehicles etc, and
  • Special features like a poem or piece of music.

“You may want a horse-drawn carriage or maybe a heavy metal band. A direct cremation or a huge traditional Italian funeral with the works; this system allows for all independents to quote with full transparency,” Mr Erceg said.

“…If it all goes to plan and Invocare’s profits “flat-line” then maybe there will be some market investors wishing me my own funeral!”

eziFunerals, www.eziFunerals, is set to launch in late February across all Australian capital cities. Equity opportunities are available.

About eziFunerals

eziFunerals is the world’s first online funeral planning and bidding platform that supports individuals and families cope with end of life decisions, death and funerals. We are an independent, Australian-owned and operated company, and are not a subsidiary of any other corporation. We are not part of any other funeral company. Founded by consumers frustrated by how difficult it was to get independent information, eziFunerals supports consumers plan a funeral, compare prices and select the right funeral director anywhere, anytime.

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

EASY ROI & LEAD HACK | DISRUPT60 009
DISRUPT60
27 views
DISRUPT60
27 views

EASY ROI & LEAD HACK | DISRUPT60 009

CDFuneralNews - August 13, 2018

Listen up, please. Approach your Funeral Home's advertising just like any other business. "But we have GREAT word of mouth…

TLC Star Amy Roloff Delivers Inspirational Speech to Rollings Funeral Service Managers and Batesville Employees
Batesville
168 views
Batesville
168 views

TLC Star Amy Roloff Delivers Inspirational Speech to Rollings Funeral Service Managers and Batesville Employees

CDFuneralNews - August 13, 2018

As one of the largest private funeral home owners in the eastern United States, Greg Rollings is a true believer…

WHAT HAPPENS IF FACEBOOK DISAPPEARS? | DISRUPTu! 048
DISRUPTu
31 views
DISRUPTu
31 views

WHAT HAPPENS IF FACEBOOK DISAPPEARS? | DISRUPTu! 048

CDFuneralNews - August 10, 2018

We are back! Let's knock off this rust and rock this out... hopefully. Ryan tackles current issues people are having…

Comments