Acquisition Project | Clinikk

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The Journey of Sickness: A Painful Reality for Many​

• Day 0: Illness begins.
• Day 1: Self-medication; doctor's visit delayed.
• Day 3: Doctor's visit results in prescription and lab tests; lab tests delayed.
• Day 4: Health worsens.
• Day 5: Doctor revisited; lab tests conducted.
• Day 6: Diagnosis: Dengue.
• Day 7: Treatment starts, but already delayed.
• Day 8: Critical condition; hospitalization needed.
• Day 9: Hospitalization occurs.
• Day 11: Discharged, paying out of pocket.

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The Core Issue: A Crisis of Trust and Misaligned Incentives​

Imagine a health subscription model where the service's profitability is directly tied to your health.

You pay the plan premium and when you're unwell, the plan pays for all of it, aligning its success with your recovery.

That's managed care and Clinikk for you!

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Clinikk operates 11 Health Hubs in Bangalore, all directly managed to guarantee top-quality primary care and effective first-level health gatekeeping, focusing on keeping you healthy.

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The Clinikk Health Plan doesn't stop at the primary care level but extends to cover your hospitalization bills through Health Insurance that comes along.

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The current pricing is age-agnostic and for everyone from 18-60, this is how the post discount premium looks like:

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​Note:

OPD Limit could be used for Medicines, Lab Tests, Specialist Reimbursements

Option to upgrade your Health Insurance SI to 15 Lakh, 55 Lakh

​Understanding the Acquisition and Users

​Micro Objective #1: Characterising User Profiles

-Who else is there in your family? How old are they? Are they all covered under Clinikk's plan? If not, why?

-What do you do for living? Where are you from? Where do you stay?

-Why did you choose to have a health insurance for yourself/family?

-Prior to purchasing our plan, what were your main concerns regarding health insurance?

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Micro Objective #2: Identifying Effective Acquisition Channels

-How did you first learn about our health plans?

-What made you choose Clinikk's plan over others available in the market? Where did you learn about the other plans available in the market?

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Micro Objective #3: Evaluating Decision-making Factors

-Whose decision was it in the family to have Clinikk plan?

-<Advisor Name> was in touch with you for almost <n> days before you purchased the plan. How was your experience with our Advisor? What are the things that you liked and disliked?

-What all did you check before purchasing the plan?

-Looking back at your decision to choose our health plan, what do you believe we offered that others didn’t?

• When it come to Clinikk Health Plan (OPD + IPD), young people don't value it much as they are usually healthy, spend and focus on health is less. So, adoption is low.
• Clinikk Health Plan has an option to downgrade to just Insurance + Tele-consultation (Remote Plan), so that if you move away from Clinikk Centres, you don't pay extra for the OPD.
• Distribution of OPD + Insurance >> Distribution of Insurance + Tele-consultation because OPD + Insurance is unique, value prop is stronger compared to traditional insurances that comes without OPD.
• Locations for Clinikk Health Hubs have been chosen is a way that most of them have a sizeable local population around it.

ICP Prioritization

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Other Learnings

• Health insurance is something that people want, but no one needs it.
• It's not a tangible product that you start using right after purchase; it's just a promise. So, people don't value it much unless they themselves get hospitalized or see someone in their circle lose their wealth due to a hospitalization.
• Everyone knows what insurance is, at least the basics, but when it comes to making a purchase, there's always some other product or service that takes priority, and people often don't have the money to buy it.
• In India, many of us believe that God will take care of things, so why bother with insurance.

Market Sizing (TAM, SAM, SOM) - Reference

TAM​

OPD Insurance Penetration: Assuming it to be 10% of Total Health Insurance market

SAM of Health Insurance with OPD in 2024 = INR 91 billion

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​SOM for Health Insurance with OPD in 2024 = 0.91 trillion x 1% = INR 9.1 billion

​Core Value Proposition

Clinikk's Plan vs Traditional Health Insurance

Clinikk is transition to age-dependent pricing model just like the traditional insurances but the Clinikk's premium for any particular age group would still be lower compared to that of the traditional insurance.

Reason: Lower Claim Ratio (Claims/Premium Collected) at scale because of managed care.

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JTBD ​

Core Fundamentals for Sales Pitch & Marketing Strategy

1. Building Trust from the First Interaction: Confident Presentation, Sharing personal stories and the origins of Clinikk (founder's story) to create an emotional bond and demonstrate the brand's mission.
2. Personalized Engagement: Personalizing the conversation, share your own experiences, understand their specific needs and concerns.
3. Emphasizing the Value Proposition: Highlighting Clinikk's unique offerings- comprehensive care, affordability, and accessibility. Stressing the importance of health insurance (must-have rather and not optional), give real-life examples/consequences of being uninsured.
4. Overcoming Objections: Using emotional stories to highlight the potential risks and regrets of not having health insurance.
5. Respectful Follow-Up: Encourage thoughtful consideration, providing resources for more information to build credibility.

Increasing Core Value Prop: Upgrade/downgrade feature

Introduce an upgrade/downgrade feature for health plans, allowing users to switch between OPD+Insurance and IPD-only plans.

Benefit:

-Dissolves the geographical barrier to plan purchase.

-Customers would continue with Clinikk irrespective of their proximity to Clinikk centres.

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​Plan Purchase Decision Matrix

This would significantly increase the TAM by at least 83%

Current: Medium 5% + High 10%

Future: Medium 7.5% + High 10% + High 10%

Multipliers: High (1), Medium (0.5), Low (0) ​

Modify the existing Referral Program

How does it currently work?

1. Refer your friend

2. Your friend activates a SMART plan worth >₹4,000

3. You get a Silver Coin

4. Your friend gets 5% off

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Platform Currency- Clinikk Coins: Earn, Redeem, Compete

• Earn: Accumulate Clinikk Coins by engaging in health-positive activities: completing health checkups, renewing plans on time, referring friends to Clinikk, participating in health quizzes, and more.
• Redeem: Use your Clinikk Coins for a variety of rewards including discounts on plan renewals, access to exclusive wellness programs, and vouchers for health services.
• Compete: "The Community Leaderboard" which will rank users based on the Clinikk Coins they've accumulated.

Product Integrations​

Partnering with Policybazaar at Clinikk's current scale is difficult as it might cannibalise the business of other competitors (traditional insurance) listed on the platform.

Integration with Khatabook: Unlock Upselling Potential for Khatabook Users

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