Wednesday, March 6, 2024

One In Three Working Women Open To Consider Egg Freezing: Plum’s Survey

~ Age-related fertility decline, career aspirations, relationship status, financial considerations, insurance coverage and personal health influence decision making ~

~ 88% of working women want an egg-freezing cover under their workplace benefit package~

Plum, India's leading insurtech platform providing group health insurance and business insurance solutions to over 3500+ corporations, surveyed working women in order to understand their awareness regarding egg freezing and its process. Egg freezing is the process of retrieval of eggs from the woman's ovaries and freezing them for later use when the woman feels she is ready for conception and pregnancy.

Survey findings:

-          Nearly 30% of working women express openness to considering egg freezing as a viable option, and another 50% would consider it if they could learn a little more about it

-          A substantial 91% of women are willing to engage in discussions about egg freezing with their family and friends

-          Only 2% of working women have undergone the egg freezing procedure

The survey was conducted in February 2024 and involved 200 working women aged 25–45 residing in top metro cities. The study cited that egg-freezing decisions involve navigating various factors such as age-related fertility concerns, relationship plans, career aspirations, financial considerations, insurance coverage and personal health. Striking a delicate balance among these elements is crucial for those contemplating fertility preservation through egg freezing.

Dr. Nupur Gupta, Director-Obstetrics & Gynaecology, Fortis Memorial Research Institute, Gurugram and senior gynaecologist from Plum Telehealth, said, “The average age of women opting for egg freezing is now 30-35 years due to declining fertility  post-30s. Increased media awareness has led to a rise in inquiries, challenging previous taboos around discussing fertility issues.”

Dr. Gupta addressed some myths raised by survey participants:

-          Success Rates in Egg Freezing: Achieving over 99% success, egg freezing with experts’ expertise ensures a highly effective and reliable fertility preservation method.

-          Potential Health Risks or Side Effects: Egg freezing involves minimal to no health risks, emphasizing its safety and established track record in the field of fertility preservation.

-          Lack of Information or Access to Reliable Resources: For accurate guidance, consult experienced gynaecologists to receive tailored information, bridging knowledge gaps and empowering informed decisions about egg freezing.

-          Emotional Concerns about the Process and Mental Health Impact: Consulting with a psychologist is recommended to address emotional aspects, ensuring a holistic approach for emotional support during the egg-freezing journey.

Women in the survey also highlighted concerns about cultural beliefs, reactions from families and friends, and high costs.

Shweta Shridhar, Lead Benefits Consultant at Plum, said, “As an entity, Plum remains dedicated to raising awareness about the growing demand for working women's personal health. Companies that care, can initiate support for egg-freezing covers and expand benefits based on employee demand. A comprehensive policy for working women can cover PCOS, pre and post-natal care, maternity coverage, egg freezing, IVF, surrogacy and postpartum depression, contributing to a more inclusive and supportive work environment. Our study states that 88% of working women want egg-freezing cover under their workplace holistic healthcare package. About 47% of them even stated that it would bring about job satisfaction and loyalty for the company.”

Egg freezing costs in India range from INR 1,20,000 to INR 2,50,000. Workplaces can empower female employees by addressing their concerns, with 95% emphasizing the importance of insurance coverage in egg-freezing decisions and 88% expressing a desire for this to be part of workplace benefit packages. Forward-thinking organizations can proactively integrate comprehensive insurance plans, fostering a supportive culture aligned with evolving employee needs. This not only demonstrates a commitment to well-being but also contributes to an inclusive workplace culture.

About Plum:

Plum is India’s leading insurtech platform offering employee wellness solutions and business insurance solutions to 3500+ corporations. Founded in 2019, the company is on a mission to accelerate the adoption of health insurance in India by making employee health insurance accessible, affordable and usable for employees. It is re-imagining the health insurance stack and accelerating the penetration of health insurance in India to 100%. Plum aims to reach a milestone of 10 million lives insured by 2025. It launched Plum Business in July 2023, thereby extending its product offerings to cover the health and wellness of employees and businesses as a whole. Plum is currently in the Series-A stage and has raised $20million till date. It is backed by marquee investors, Tiger Global and Peak VX Partners.

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