Dental Insurance < Financial Services
Dencover Call 0845 123 1077
Provides wide ranging, cost-effective dental insurance cover which is specifically designed to improve dental fitness by encouraging regular examinations and hygienist visits. Visit the site for more business information and details.
5th floor, 3 St Helens Place, Bishopsgate, London, EC3A 6AB, UK
Dental insurance is more or like a health insurance but people still prefer to have a separate dental insurance so as to cover medical expenses related to dental and oral health care. A person will go to a dentist or a hospital with dental healthcare facilities and will be charges a fee for the services rendered, a portion of these medical expenses are covered by a dental insurance plan. Dental insurance business is a big business in the western countries and the other developed countries while the market in other countries is still in an infant stage. In the United States nearly 50% of the people have some sort of dental insurance. There is not just personal dental insurance but even companies take business dental insurance for their employees, which represent the secondary market for such a business.
There are a number of ways in which a dental insurance business can be done. As the awareness and need for dental insurance grows health insurance companies are creating better, newer dental care insurance products so that consumers find it more attractive to pay for dental care. Health care insurance companies are the ones who offer dental insurance as part of their existing business. But getting into the insurance business itself is not an easy thing to do. In every country there is an insurance regulatory body which oversees how the business is done. For someone who is new and wants to enter dental insurance business then knowledge about the rules and regulations is a must. Starting dental insurance business requires millions of dollars to start up. Government regulations are very strict the insurance business.
To start a dental insurance company of your own you will have to fill an application form stating your business plan and other details pertaining to how you will invest in this business, the source of your money, who are the people investing in this business, the assets and liabilities of the company and other additional information. The regulatory authority will review your application and take a decision on whether or not to grant you an insurance business license. If you are granted approval then you will need to set up a business office and apply for other licenses like tax license and others to commence business. The dental insurance business can then create its own offices in the country also if its wants to open office outside of the country. The company can create different dental insurance products to suit the needs of its consumers.
Another business model that can be adopted is that of dental insurance franchise business. As dental insurance business is a niche market companies are looking to expand their presence in markets, the cost of health insurance company owning their own offices in every city and town is high so they would like to appoint a franchise for the business who will represent them in a certain market. If you can invest decent money for dental insurance business in your city/town then health insurance companies need you. You can approach a company that offers dental insurance products and tell them that you are interest in getting business for them. If they like your business plan they will appoint you as their authorized franchisee. You will have to invest money towards opening your own office and keeping your own staff. Health insurance companies are known to support you by allocating some funds towards your business expenses while also giving you commission on each insurance plan sold by you. Amongst the disadvantages of a dental insurance franchise business can be that you are working for a single health insurance company so you are bound by certain clause that might not permit you to work for some other company while you are contracted by that insurance company.
If the franchise business model and the idea of investing money do not suit you then you can still have your own dental insurance business by becoming an insurance agent. You will require formal training to become a successful insurance agent. It is also important that you understand how dental insurance can be beneficial to a consumer or a person. If you can impress upon a person that with a dental insurance policy a person has covered most of his/her dental care costs then you will be in a better position to make a sale. Most insurance agents act as free agents meaning that they are not bound to selling insurance products for just one company. They usually have dental insurance products of various companies and recommend insurance products as per the needs of a client. It could be a person is seeking just a term product or in some other cases a long term dental insurance. Term insurance is just for a particular term and the premium money is high, also upon completion of the term the insurance does not remain enforce.
Financial Services > Insurance > Health Insurance > Dental
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