InsureTech Standout: Beam Dental Available in Nine More States
Beam Dental, one of the fastest growing U.S. dental benefits companies for small and medium-sized businesses, announced in May that it had raised $22.5 million in Series C funding led by Kleiner Perkins, bringing its total raised to $30 million. It immediately put the funds to work and is now available in nine more states. Beam offers traditional PPO dental insurance policies in the below 25 states with plans to expand its data-driven technology platform to 36 states by the end of the year.
- *NEW: Connecticut
- *NEW: Iowa
- *NEW: Maryland
- *NEW: Michigan
- *NEW: Minnesota
- *NEW: Nebraska
- *NEW: New Mexico
- *NEW: Oklahoma
- *NEW: Oregon
- District of Columbia
- South Carolina
Beam began as a start-up selling Bluetooth-connected toothbrushes, and soon after entered the $78 billion dental insurance market. The company is the first and only dental benefits company to incorporate dental hygiene behavior into policy pricing. The Beam Brush tracks usage to encourage better brushing habits amongst its members. Then, it collects that data in the aggregate so that groups receive the best possible rates on insurance premiums. The better a group brushes, the more money they can save at renewal – up to 15 percent.*
With a customer-first approach and a focus on prevention, Beam also offers a unique dental care perk to all members — a subscription service that delivers everything they need for great dental care every six months, including the sonic-powered Beam Brush that connects to an app, toothpaste, refill heads and floss.
Beyond Beam’s products and plans, it stands out from the crowd of other benefits providers with its support and service. Digital insurance cards, a member portal for viewing claims and making adjustments to account information, and clean, easy-to-understand Explanation of Benefits documents are just a few of the upgrades Beam members can expect.
Its tech-enabled broker tools is a perk in itself. Beam turns around RFPs in no more than two business days, most often the same day. Its claims processing is highly automated, accurate and transparent. Beam offers seven different digitally native ways to enroll a group and their members in a plan, negating the ‘switching costs’ typically painfully associated with moving a case. Its Lighthouse portal for brokers and plan administrators can accomplish anything in a few clicks – from adding or removing a member to coordinating COBRA coverage to checking on the status of a claim.
Beam will continue to roll out its plans and perks in nearly a dozen more states by the end of the year. Learn more about how Beam is reimagining dental care by visiting www.beam.dental.
About Beam Dental
Beam Dental is a dental and ancillary benefits company that offers employers a fundamentally unique approach to coverage by incorporating dental hygiene behavior into policy pricing. All of Beam’s plans also include Perks, a subscription service with an electric toothbrush, replacements heads, toothpaste, and floss. Beam delivers best in class support and service to all members, making easy to find and access dental services with the tap of a finger from a broad, nationwide network of dentists. Learn more about how the company is reimagining dental care at www.beam.dental.
Insurance products underwritten by National Guardian Life Insurance Company† (NGL), marketed by Beam Insurance services LLC, and administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC, in Texas). Beam® perks provided by Beam Perks LLC. Beam Perks® can be obtained separately without the purchase of an insurance product by visiting perks.beam.dental.
†National Guardian Life Insurance Company is not affiliated with The Guardian Life Insurance Company of America, a.k.a. The Guardian, or Guardian Life.
*Lower rate based on group’s participation in Beam® Perks wellness program and a group aggregate Beam score of “A”. Based on Beam® internal brushing and utilization data, 2016. Presented amounts are for illustration purposes only; actual discount, if given, may be less. Not all Products Available in All States.