Understanding the Roadblocks of Dental Insurance Products in India: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit By: Lakshay Aggarwal, Research Analyst II, Ken Research Dental Insurance is not new to India. It was first started by Ocare in 2015, through a plan worth INR 999 providing dental treatment coverage for Root Canal, Tooth Extraction, Crowns and Bridges etc. However, Ocare shut down its operations in 2017 after selling 100,000+ policies during its stint. Till date, India lacks a standalone Dental Insurance Provider and it is pertinent to understand why India cannot adopt a model similar to developed countries. In conversation with Amar Singh, Founder & CEO at Clove Dental, we attempted to seek his opinion and understand his side of story to Dental Insurance in India. Here are some excerpts of the interview: What are the current challenges to Dental Insurance in India? Insurance is a business of probability and considering the high incident rate of dental diseases among population, it is pertinent to also understand the customer paying capacity before pricing insurance product. Another major challenge is reliability of suppliers, agreeing to follow a standardized pricing model and adhering to quality assuring treatment procedures. How are these challenges being overcome by Clove? Standardized pricing across 350+ chain clinics and digitized patient records coupled with treatment audits done by our team at Clove ensures that patient receives a quality adhered treatment and is fairly charged for the same. Moreover, the basic & platinum membership plans run by Clove also substantiate the fact that patients wants to establish long term relationships with us by paying a defined amount upfront. (According to Ken Research Estimates, 25,000+ live families are availing the Platinum Membership Plan, as at end of December’19.) Why do you say that Dental Insurance Network Coverage must start off with Corporate Chain Clinics? In India, Chain clinics are an emerging trend and are working towards solving the lack of infrastructure of Dental Facilities in India. Standardized Pricing, Standard Operating Procedures, Defined End-Point, Access across different cities, Empanelled Dentists etc. are some key features, making the case for efficient network coverage of Insurance. Learning from USA, India could adopt model of Dental Treatment Plan working on the similar lines of Insurance provided given challenges are being addressed by all the stakeholders. How according to you is the right way for dental insurance implementation in India? I believe that for the product to be economically viable, different treatment coverage must be accurately priced and pilot testing must begin with partnering with corporate chain clinics. “We would definitely want to explore such opportunities aimed at creating win-win situation for all stakeholders and improving the infrastructure, awareness for Oral Care among Indian population”, said Mr. Singh when asked about Clove’s strategy to partner with Dental Insurance Provider. Analyst Comment: Dental Insurance could be a reality only if it witnesses collective effort from all stakeholders, especially Regulatory Authorities, which need to upgrade the healthcare infrastructure and consider revising the treatment prices under different schemes. This interview was conducted as a part of project titled ‘Feasibility of Dental Insurance in India’. Read our Interview with Dr. Neeraj Sheth, Founder & CEO at Ocare, here. For possible consulting engagement opportunities on this sector, please connect to: Namit Goel Director Ken Research Namit@kenresearch.com Tags: Affordability Healthcare, Age Group Customer Dental Procedures, Apollo Munich Maxima Plan, Bajaj Allianz Tax Gain Plan, Bangalore Chennai Clinics, Bharti Axa Smart Health, Business Model Clove Dental, CEO Ocare, Challenges Dental Industry, Common Oral Diseases India, Consultation Fees Clove, Coverage Dental Insurance India, Current Status Ocare, Customer Profile Clove Dental, DALYs Oral Diseases India, Delhi Dental Clinics, Dental Council of India, Dental Infrastructure, Dental Insurance India, Dental Insurance Products, Dental Statistics India, Feasibility of Dental Insurance, Financial Analysis of Clove, Funding Dental Industry, Funding Healthcare, Government Healthcare Initiatives, Healthcare Infrastructure, Healthcare Sector India, ICICI Lombard General Insurance Health Advantage Plus policy, Investments Dental Industry, LIC Health Protection Plus, License Ocare, Max Bupa Health Companion Plan, Medical Shops India, Membership Plan Ocare, Mumbai Sabka Dentist, National Health Profile, Number of Chain Clinics, Number of Dentists India, Ocare Operational, Outlook Dental Insurance India, Partnership Ocare, Preventive Treatment Pricing, Pricing Variation Dental India, Private Clinics Cost, Private Clinics Number, Private Dental Infrastructure, Public Expenditure on Health, Standalone Dental Insurance, Success Ocare, Ticket Size Customer Patient