Quip has announced its intentions to purchase Afora, taking the next step in its unique business model.
Electric toothbrush startup, Quip, is acquiring Afora, a dental insurance company. Quip first started selling its toothbrushes online back in 2015. It has, since that time, built a substantial consumer network.
The toothbrush company offers subscriptions for direct-to-consumer personal care products.
As popular as its toothbrushes have become, Quip is lining up to become more than a toothbrush brand. Instead, it is expanding to be able to become a dental insurance company, too. In this way, it will be able to provide a much more rounded experience in terms of dental care
The Quip electric toothbrush holds onto the bathroom mirror by way of a suction cup attached to the brush holder. This helps to keep the countertop clear of messes and clutter. The company has built a significant following since it first launched, as customers remain quite loyal to the brand.
The dental insurance company acquisition was completed for an undisclosed amount.
The idea behind the Quip electric toothbrushes is not unlike other personal care brands that sell directly to the consumer. Dollar Shave Club and Harry’s have similar business models to that extent. The subscriptions allow a consumer to receive fresh toothbrush head and toothpaste replacements every three months.
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The company now intends to bring its customers together with dentists local to those individuals using its online platform. This platform will go so far as to remind customers when they’re due for another checkup. It also provides dentists with the ability to offer loyalty programs that reward their patients for coming in by paying for brush heads and replacement batteries that they can offer those patients for free.
Afora currently sells its basic dental insurance plans with a monthly $25 premium. Policyholders can also upgrade to a higher coverage for $45 per month. This covers dental exams, cleanings and X-rays twice per year. It also lists additional prices for covering procedures such as fillings.
Quip’s acquisition of the dental insurance company will allow it to take over these coverage offerings, reported CNBC. In this way, Quip will provide a far more complete dental care experience than toothbrushes.