Even: What is it?
Even is a healthcare provider that offers a managed care plan to its members ("Even Care"), with an additional option for its members to enroll for a group insurance coverage with an IRDAI-licensed General Insurance Company.
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Even members can access unlimited consultations and preventive health initiatives with Even doctors, nutritionists, physiotherapists, and other in-house specialists under Even's managed care programme and, for members who opt for a group insurance offered by a general insurance company, also avail hospitalization and diagnostics cover under the group insurance policy.
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Is Even classified as insurance?
No, Even is not classified as insurance, it is a healthcare provider that actively works with its members to keep them healthy. Our team of experienced doctors understands unique health profiles and helps members detect chronic lifestyle diseases to prevent and/or manage long-term consequences. This way, we ensure our members live an active and illness-free life and avoid hospital visits when things have taken a turn for the worse.
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Even members can optionally choose to enroll in a group insurance cover with an IRDAI-licensed general insurance company to get access to numerous benefits such as cashless hospitalization and a cover for blood tests, hospital consultations, and diagnostics. These insurance benefits are not available to Even members who opt for the base Even Care plan and no insurance, since Even Care simply provides access to Even's doctors and wellness specialists.
What makes Even stand out? ๐ถโโ๏ธ
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What does Even's ICP look like?
Modern ideal healthcare needs an ideal customer ๐ค Preventive healthcare is finally here ๐ฎโ๐จ
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Category | Young Professionals | Health-Conscious Families | Senior Citizens | Startups and SMBs | Enterprises |
ICP Basic Details: Basic information about the customer type | โ | ||||
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Age Range | 25-35 | Parents 30-45, Children 0-18 | 55+ | 30-45 | 35-50 |
Title(s) | Analyst, Engineer, Consultant | N/A | Retired, Senior Citizen | Owner, Founder, CEO | HR Manager, HR Director |
Education Level | Bachelor's or higher | Bachelor's or higher | Varies | Bachelor's or higher | Bachelor's or higher |
Team Size | NA | NA | NA | 10-50 | 200+ |
Budget | Low - Similar to existing health plans | Moderate | Moderate | Moderate | High |
Stage of Company | NA | NA | NA | Growth | Mature |
Income/Annual Revenue | 10+ LPA | 10-25+ LPA | Varies | $1mm - $10mm | $10mm+ |
Employee Count | N/A | N/A | N/A | 10-200 | 200+ |
Location | Tier 1 & 2 cities | Tier 1 cities | Tier 1 cities | Tier 1 & 2 cities | Tier 1 cities |
Key Responsibilities | Job performance, personal health | Family health management | Personal health management | Business growth, employee welfare | Employee health and satisfaction |
Technical Sophistication | High | Moderate | Low to moderate | Moderate to high | Moderate to high |
How do they spend time and money: Information about how the budget is allocated and the stakeholders involved. | โ | ||||
Time Spent | Online forums, social media | Parenting websites, social media | Community centers, social clubs | Business forums, networking events | LinkedIn, HR conferences |
Money Spent | Health and wellness services | Health services, family activities | Health services, medications | Employee benefits, wellness programs | Health benefits programs, wellness initiatives |
Buying Decisions | Price sensitive | Quality service is prioritised | Reliability, relationship management, and quality service | Price Sensitive but key factor to attract and retain talent | Reliability and service |
Decision-Making Role | Influencer | Primary decision-maker | Family and friends | Primary decision-maker | Primary decision-maker |
Product Retention | Moderate retention - looking for better alternatives | High retention if the TTV is short | High retention if the TTV is short | Moderate retention - takes time switch | High retention - once product is selected it is difficult to switch |
Marketing Channels | Social media, online ads | Parenting blogs, social media | Senior centers, community groups | Business networks, email marketing | Professional networks, LinkedIn |
ICP Behavioural Details: Information about the problems and the solution present for the ICPs | |||||
General problem statement | Longer waiting times at hospitals and diagonistics centers Costly health plans Rising medical check-up costs | Complex comprehensive family plans Unavailability/unreliable of doctors - paediatrics and gynaecologist Costly tests and frequent visits to doctor | Low familiarity with technology Costly tests and frequent visits to doctor Limited understanding and awareness of illness and required treatments | Costly medical plans Limited support and service from health insurance companies | Complex comprehensive health insurance Active management from admin Limited integrations with employee management softwares |
Present solution they have implemented for the problems | Dependent on employer provided health plans Over the counter medicines for minor concerns | Dependent on employer provided health plans Switching doctors due to limited assistance from hospitals Reaching out to family doctors in their hometown | Visiting family doctor for minor and major concerns | Providing health cover but limited to employee and not covering family | Costly health insurance cover |
Other tools or services they use | Health apps, wearables, social apps | Family health apps, social apps | Basic health monitoring devices, social apps | MS Office, Zoom, Slack, Asana | Zoom, Atlassian Jira, Slack, Adobe, MS Office, HR management systems |
Goals (Next 3 Months) | Improve health, reduce stress | Maintain family health, prevent illness | Manage chronic conditions, maintain health | Enhance employee health benefits | Improve employee wellness programs |
Valued Features | Convenience, accessibility | Family-oriented services | Chronic disease management | Comprehensive health plans | Employee health improvement |
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Jobs to be done: Identifying the primary goals of the ICP
Category | Goal | Description |
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Young Professionals | Personal | Access to mental health services to manage stress and maintain work-life balance. Regular check-ups and preventive care to maintain good health. |
Health-Conscious Families | Personal | Access to specialized pediatric care for children. Managing chronic conditions within the family to prevent complications. |
Senior Citizens | Personal | Effective management of chronic conditions to maintain quality of life. Regular screenings and preventive care to detect and manage health issues early. |
Startups and SMBs | Functional | Ensuring the health and well-being of employees, leading to increased productivity and job satisfaction. |
Financial | Preventive healthcare can reduce long-term medical costs for both the employer and the employees. | |
Enterprises | Functional | Providing healthcare benefits can boost employee morale and engagement, fostering a positive workplace culture. |
Financial | Receive tax benefits for providing healthcare to employees, improving the company's financial health. |
Narrowing down ICPs
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Even is a subscription-based service that requires a certain level of tech literacy and can be adopted easily by new-age tech-savvy firms. It could potentially cater across all segments as core functional and financial goals overlaps. Even has sided itself away from legacy insurance providers by positioning itself as friendly and new-age. We can notice it from their social media which consists of memes to educate and their website which is quirky and still helpful.
Considering the information and ICP prioritization framework we will focus on Young Professionals and Startups as the primary ICP.
Product Teardown
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Hypotheses
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Hypothesis 1: Completion of First Telehealth Consultation within 14 Days of Signup
Reasoning: Completing a telehealth consultation within 14 days signifies a user experiencing the core value proposition of Even-convenient access to healthcare professionals. Early conversion indicates a positive initial experience and increases the likelihood of continued engagement.
Tracking Metrics:
Hypothesis 2: Completion of Health Profile within 7 Days of Signup
Reasoning: A completed health profile allows Even to personalize healthcare recommendations, medication management, and preventive care suggestions. This fosters user trust and encourages further engagement with the platform.
Tracking Metrics:
Hypothesis 3: Booking of First Preventive Care Appointment within 30 Days
Reasoning: Even aims to promote preventive healthcare. Booking a preventive care appointment (e.g., annual physical) within 30 days indicates user adoption of this key platform benefit.
Tracking Metrics:
Hypothesis 4: Activation of Medication Reminders within 1 Month
Reasoning: Utilizing medication reminders demonstrates user trust and reliance on Even to manage their health. This ongoing engagement increases customer lifetime value.
Tracking Metrics:
Hypothesis 5: Completion of First Wellness Challenge within 60 Days
Reasoning: Participating in a wellness challenge (e.g., fitness goals, healthy eating) signifies user engagement with Even's preventative health initiatives beyond core healthcare services. This fosters a holistic approach to well-being.
Tracking Metrics:
Additional Metrics to Track
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