While health insurance plans provide cover for various treatments and hospital expenses, they do not help in curbing all types of healthcare expenses of the subscriber. For example, a subscriber may have to spend on prescription medicines, medical consultation for small illnesses like seasonal flu, or for dental, skin and hair treatments. A new healthcare startup, Kenko Health, is trying to change this through subscription plans starting at as little as Rs 299 per month.
Kenko has been founded by two former Insurance industry professionals. Dhiraj Goel is an actuary who has been working for various Insurance companies in India over the last more than 15 years. Aniruddha Sen has spent over a decade in Health Insurance leading digital roles. In an email interaction with FE Online, Sen shared the idea behind his company and details of special plans it offers to subscribers. Excerpts:
There are so many health insurance companies. What separates Kenko Health from them?
The fact that we are not a health insurance company. We are working towards building the country’s first Health Management Organisation (HMO) that not just covers healthcare expenses, but manages an individual’s medical conditions leading to better long-term health outcomes. We envision eradicating inefficiencies in the Insurance sector through data, technology and constant customer insight through some of our industry-first offerings like:
- Coverage for out-patient treatments such as medical consultations, dental, skin and hair treatments, diagnostics, prescription medicines etc
- Monthly subscription model – no upfront payment required for the full year
- Prepaid benefits scheme
- Flat pricing for all customers
Please tell us about the idea behind the Kenko Health platform and how did it start?
A deep distaste for treating customers like numbers, an appreciation for the complexities of health insurance risk management and frugal innovation are some of the tenets that they have built this company on. Start-ups these days are challenging institutions, businesses and age-old industries at a progressively faster pace. Most of the time, they provide early adopters with financial savings, tech-driven convenience and a vastly superior consumer experience.
By keeping things lean, costs low and inefficiencies at near-zero, the team at Kenko are attempting to bring in revolutionary low prices. Kenko has been built with the personal funds of this duo and, therefore, is as much their vision of a better healthcare system as it is an attempt to disrupt archaic business practices that just don’t work anymore.
Kenko is a challenger brand in an under-penetrated category that is cluttered with large players who over-promise and under-deliver. Kenko is slowly building towards becoming India’s first integrated health platform. to regularly be in touch with our customers’ health with the help of a Kenko score.
What is Kenko score?
Kenko Score gives our customers an objective rating of their health and personal finance. This is based on over 40 parameters and the questions are super easy to answer. The whole process is online, automated and takes no more than 4-5 mins. Once done, customers get their personal Kenko scores ranging from 0-1000. A minimum of 700 is required to qualify for a Kenko plan. If eligible, the customer makes the first month’s payment and also provides an e-mandate for future payments.
Kenko organises a medical test for the customer which is done at the convenience of their home. The results are made available within 24 hours and the score is recalibrated automatically. If the Kenko score is still 700+, then the plan is activated and the account unlocked. This entire process is fully automated and takes no more than a day or two to complete.
Kenko is fully set at being the one-stop solution for all health management and healthcare needs for its customers. If it’s a healthcare expense, Kenko has you covered.
How many customers have you acquired till now?
We have acquired 25,000 customers as of now.
What are your plans for the future?
We are constantly exploring partnerships in distribution, product enhancement, OPD services, Computer Vision / AI capabilities and more. Some of the ones we have recently forged are with ImpactGuru for crowdsourcing in case of very large medical bills, Sova.Health which is a diet and nutrition management platform, SabkaDentist for dental coverage, Nova Benefits – an employee benefits platform, Medulance – an emergency services provider. Many more partnerships are in the pipeline across sectors from elder care to neobanking.
What are the plans offered by Kenko Health?
We have Kenko Health plans for individuals and corporates/SMEs. While the corporate/SME Kenko Health plans can be customised, for the former, we have 4 categories.
For individuals and families, we have different plans to suit every customer’s needs. It starts with a basic plan of INR 299 per month that provides 20 percent benefits on doctor consultations, medicines, lab tests, non-capped expenses and Covid-19 coverage. We have a plan for INR 599 per month that delivers great value and wide benefits with 50 percent discount on doctor consultations, medicines and lab tests. Apart from these, we have family plans that can help take care of all the members in the family.
We also have dedicated plans for Diabetes patients covering insulin costs and Senior Citizens specially customized for their requirements. We also have only OPD plans for individuals as well as the entire family that covers dental care, mental health and vision care.
How can one avail Kenko Health plans? In which cities can they be availed?
It is very easy to avail a Kenko Health plan by logging on to our website and appearing for a 5-minute Kenko Score test. If your score shows above 700, then you can avail the Kenko plans. They are available in all cities in India.
Does Kenko Health provide cover for small health expenses like OPD visits for routine diseases like a seasonal fever?
Yes, it does cover all small health expenses including routine diseases like seasonal fever. We even have Covid-19 coverage in-built in all of our plans.
What is the claim process for Kenko Health users?
The Kenko app is a one-stop shop – a super-app for all your health and medical needs. For example, if you wish to consult a doctor, you simply need to look up the list of available doctors on the app and select a time and date. The plan benefit is then deducted from the total cost and you can pay the balance instantly. No need to send us bills and prescriptions! You can then proceed with the doctor consultation and our executives will stay in touch with you all the way to ensure all goes well.
The process for availing all other benefits remains the same – open the app, select the category of service/product and simply place your order. We have also worked towards making the hospitalisation process super easy and instant on the app. As an exclusive benefit to Kenko customers only, they get their hospitalisation treatment benefit paid directly into their bank accounts just before admission. Hence, nullifying the need to fork out money from one’s own pocket for the security deposit and waiting at the time of discharge.