Dental Shield Story
December 10, 2018 by Dental shield Team
"The Man Who Brought Affordable Dental Coverage to Singapore"
What were you doing before founding Dental Shield?
I was a career banker for more than 20+ years and has been involved in many green field IT projects implementation since I started working in Visa International. After I left the banking world, I went into private equity and new venture business until 3.5 years ago, before deciding to focus on what I know best, which are Fintech and Insurtech businesses.
Why did you found Dental Shield? What pushed you to convert it from just an idea to incorporating Dental Shield?
Just like most businesses that are founded on the basis of solving a problem or exploiting an opportunity, I found us to be in the situation of being a first world nation but we don’t seem to have first world dental hygiene. Dental Insurance products are also uncommon and with a relatively small market in Singapore, it’s hard for traditional insurance company to offer affordable dental coverage too. With that, I worked with some partners that are veterans in the insurance industry and we redesigned the dental insurance product to what we have now as a dental warranty, localising it further to be a high value, affordable programme for the general public.
What were the challenges since the start with Dental Shield? What are you looking forward to in the next 12 months?
Like all new startups, we have the usual growing pains like raising awareness of a very different, one of its kind product, stabilising operations, getting the right candidate for the job. But despite the challenges, we have been blessed with many dentists who have given us the opportunity to work with them and their valuable advice they have given to our young team, our customers who signed up and taking the trouble to thank us, NTUC Link who is pivotal in our marketing efforts by showcasing our product to a huge base Plus! Members and last but not least, my team and partners that had stuck by the company despite the challenges we faced. The next 12 months will be very exciting for us as we’re starting to sign up companies that want dental coverage as part of their employee benefits, more dental outlets to be on our panel of clinics and a new customer loyalty & reward programme. And despite a very challenging year ahead, we have decided to allocate at least once every quarter to conduct our own Corporate Social Responsibility programme by teaming up with volunteer dentists to give talks to the public to raise awareness on the importance of good dental hygiene.
What is your mission/source of motivation that gets you out of bed every morning?
A startup is like a new baby, you wake up to see if your baby has grown bigger, taller or if he/she had grown more hair this morning. The same applies to my motivation as the more you work on a product or a company, the better it gets. We might not have been a cutting edge technological company, but we are proud to build products to serve the need of the community.