Objection Battlecards Flashcards
1
Q
All this healthcare stuff is nice, but what about the claims experience?
A
- “I’m sure your team might be getting calls at 4 am from employees asking ‘where is my policy?’. Now, they can call Loop instead.” - Our claims experienced is designed for high quality servicing. In the app you can see your policy card and list of cashless hospitals. Because it’s so easy to use, Loop sees 70% cashless rates whereas the industry standard is 35%.
- Our doctors are aware of health problems before a hospitalization & are there to recommend a cashless hospital at the time of need to avoid out-of-pocket costs.
- Our team of claims advisors are all experienced Doctors that can help understand diagnosis and required medical treatment. They make sure no unnecessary treatments or deductions are administered.
- On-site concierge service for easy discharge process available across Pune and Bangalore
2
Q
If insurance company rejects claims, how do you handle this?
A
- Our claims team is entirely made up of doctors. They look for deductions and denials and do their best to make a case for your employee. For example- If the case is rejected on the basis of insufficient documents etc., then the rejection reason is not justified and we ask the TPA to evaluate the same again after providing the right documents.
- Sometimes the hospital makes a mistake and adds unnecessary charges like extra co-pay. We negotiate this away too.
- In worst cases, if some claims needs to be reimbursed as a special case, our relationships with the insurers comes in handy.
- Dedicated medical advisor will be in constant touch to ensure employees understand their claims process and explain reasonable claim rejections.
3
Q
You’ve only been in the market for 3 years how can we trust you?
A
- We have industry veterans on board. In 2018, Loop purchased Phoenix Brokers which had been in the market for 12 years selling group insurance and deep relationships with insurance companies.
- The leadership on our team have built Amazon Pay and Cult-fit. They understand how to create products that are super easy to use and provide excellent value. We’ve ensure that from the moment you feel sick, all the way until you claim, Loop is there.
- So far over 300+ companies have trusted us with over 150K lives.
- Marquee companies like Nobroker, SKF, Baekart, Theobroma, Medline have trusted us with their business over the years
4
Q
Why no office in north/south? How will you service our employees in these areas?
A
- We’re rapidly expanding across India. We’ve already set up large team across Pune and Bangalore, and are quickly building strength in Bangalore. Most of our product team is already based out of Bengaluru.
- We have great relationships with insurers and TPAs across India irrespective of the expansion of physical offices
- Our services will never fall short because of geography. We’ve conducted on-site health checkups for for large cos like Rivulis Irrigation whose employees were based across 170 different locations in India.
- All of healthcare services on offer can be operated well remotely as well. Loop doctors are available on the app to support employee even in the most remote corners of India
- Regardless of the presence of a physical office, we can provide the best of services in multiple languages.
- We already have large customers based out of North and South India
5
Q
How effective are online doctor consults? We don’t believe in Online Doctor Consults. We have a lot of blue collared emps.
A
- For folks that prefer in-person care, we will soon be able to offer in-person consultations for free through our partners at Medpay that can service over 450+ cities or 4000+ pin codes across India.
- But based on thousands of consults, we see that 60% of primary healthcare can be taken care by telemedicine. When you’re dealing with cold and cough, many of the symptoms are easy to diagnose. Plus, there are many cases where a physical doctor consultation may be difficult, like in rural areas and many more such instances. Some people do both - use their doctor and then Loop is a 2nd opinion service.
- Today, most blue collar workers are well versed with apps like Whatsapp and Google pay. Loop App is equally simple to use as and therefore trusted by thousands of blue collared workers
- A lot of our clients from manufacturing sector like SKF have seen considerable engagement on the app
6
Q
Our employees already use Practo & are used to the app. How are you different?
A
- Our Loop doctors are staffed 24/7 and function as Loop employees. That means we provide more coverage than Practo or other telemedicine apps and even your local doctor’s clinic.
- What do you do when you’re dealing with a kid who has a fever at 3 am? You text your Loop doctor and get a response in 30 seconds. Or you’re in a chemist shop and you have a prescription, but they don’t have the medicine available. Now you need an alternative. You text your Loop doctor and get a response in 30 seconds.
- This help Loop doctors become your own family doctors. They will know your whole family health history and can see all your past consult data. This kind of attention and personalized care is stuff that Practo can’t do.
7
Q
How do you manage so many employees with the help of team of 30 doctors?
A
- Actually one doctor can see more than 6,000 people throughout the year, doing full 30 minute consults.
- Most folks on average will only consult a doctor 3-4 times a year. Plus we see that 70% of cases get resolved by chat so the full consults only happen in 30% of cases. When people have headache, fever, cold, cough, stomach ache, etc many just prefer to use chat.
- As we add new members, we will continue to scale up our medical team to appropriately serve demand. We’ve added over 150K lives but have still managed to keep our response time less than a minute.
8
Q
Is our employee data safe with you? Do you have GDPR compliance? What measures do you have around data privacy & security?
A
- We follow the IT Security Act. We have a privacy policy we can share which outlines that we do not use medical information for any purposes.
- We also do not share any personal health data with your HR team to respect employee privacy. Happy to share this privacy policy with you.
9
Q
What if my employees live in a remote location? How can they get these services
A
- Since our services are entirely online, it is more beneficial for employees living in remote locations with difficult access to doctors and clinics.
- For folks that prefer in-person care, we will soon be able to offer in-person consultations for free through our partners at Medpay that can service over 450+ cities or 4000+ pin codes across India.
- But based on thousands of consults, we see that 60% of primary healthcare can be taken care by telemedicine. When you’re dealing with cold and cough, many of the symptoms are easy to diagnose. Plus, there are many cases where a physical doctor consultation may be difficult, like in rural areas and many more such instances. Some people do both - use their doctor and then Loop is a 2nd opinion service.
- Today, most blue collar workers are well versed with apps like Whatsapp and Google pay. Loop App is equally simple to use as and therefore trusted by thousands of blue collared workers
- A lot of our clients from manufacturing sector like SKF have seen considerable engagement on the app
- Our medical advisors can also help them find their nearest cashless hospitals in case of an emergency.
10
Q
Side affects of medication/misdiagnosis? How do we handle these cases
A
- We are hyper selective about which doctors we pick and maintain a strict rating system.
- All Loop doctors are established, MBBS or MD doctors with at least 7 years of experience.
- Our Medical Director, Dr. Sukrit, established more than 1k clinics PAN-India in a previous role with Nationwide.
- We monitor medical consultation ratings and escalations every single day and if a doctor received multiple bad reviews, we remove them promptly
- We are a healthcare company at our core and have a high bar for quality of care
11
Q
I’m happy with my current broker Marsh, I have no complaints. I don’t want to risk and take on a new broker.
A
- No other broker is trying to keep you healthy, they are just there to help when you’re sick.
- We’ve created a health benefit structure that actually works to keep your people healthy.
- Most of your employees may not even think about health benefits unless they need to use insurance. With Loop, 30% of employees will use our health benefits within the first 3 months.
- Unless you explore new age providers in this sector, you will not be able to create real value for your employees and the same traditional health insurance will be used by just that 8-10% of employees who get hospitalized
12
Q
Do you also provide top-ups and additional riders? Can you recommend any?
A
- Yes, we can work with the insurance company to figure out a top-up plan
- We do does a deep policy analysis, identify gaps in your policy and thereby suggest riders that can be more beneficial to your group of employees. For e.g. If your current family definition is 1+5 and the loss ratio is high because of heavy parental claims, we recommend you to break the policy into 1+3 and a separate parents policy.
- We also study the claims specific to your group of employees and align the right covers that will help you control the loss ratio on your policy year on year.
13
Q
Can we add parents selectively?
A
- Yes, the insurance company will require minimum participation of 40% of employees adding their parents to create a selective parental policy
- We can negotiate for you here as well and ensure you get the best cover and rates
14
Q
How do we handle multi-lingual HRs and employees?
A
We can support multi lingual requirements every step of the way.
- For Onboarding - We have doctors and employees who can help with multi lingual onboarding.
- For Medical Advisory - For a specific company, depending on their requirement, we can have either a phone number they can call / a callback request in a language of their need. For doctor consultations, we can create a need based solution.
- For Claims - We can have a callback request in the language of requirement.
15
Q
How are you different than Plum or Nova?
A
- These brokers are the same as traditional brokers but have just added on 3rd party tie ups with limited care over a digital interface.
- Plum doesn’t even have an in-house claims desk, they usually direct you to a TPA. You can check the rating of Plum’s app on your phone.
- In contrast, we have an in-house team of doctors that help you through the entire claims experience.
- We’re constantly exploring new ways to improve the healthcare & claims experience:
1) In-person consults across 400 cities through medpay
2) Instant financial help to cover urgent hospitalization - Zero cost medical loan product to help employees pay for their urgent medical expenses
3) Specialized chronic care packages to cover Maternity needs, diabetes, etc.
