I agree that Monzo should stick with the Marketplace idea and the non tiered accounts system.
I feel like keeping everyone the same level and everyone having the same card is very nice. Also doesn’t get too confusing for people and also people wouldn’t get features they don’t want. For example, a family member of mine uses Natwest for breakdown and travel insurance but that’s it even though there’s a few other options budled in.
I would much prefer the marketplace way. Monzo could partner with small insurance companies that are extremely dedicated to customers and also share monzos ethics etc, obviously would be vetted heavily by Monzo but this would be a better way.
E.g. partnering with a company like “so-sure” who are also more of an “app only” kind of company. They are small but dedicated but also pretty cheap for mobile phone insurance. Monzo could partner with them and give monzo customers a small discount?
I would rather pay let’s say £6 a month for phone insurance and then like £10 per person per week for travel insurance. This way I’m not paying the entire year for features it’s also cheaper for me but probably makes more money for monzo and the third party offering the service.
This way you would also know what people are more interested in and you would be aware of customers needs. For example, you would know someone has an active travel insurance for their trip and you could kind of anticipate that a small percentage of those people may make a claim, rather than just guessing.
Obviously all the small details would need to be worked out and such but that’s a rough example of how I picture my ideal Monzo in the future in regards to “premium” features.