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Kochi, August 17, 2023 – ManipalCigna Health Insurance, one of India's fastest-growing standalone health insurance company, is taking concrete steps to strengthen its presence in the state of Kerala and across India to address diverse healthcare financing requirements and extend its innovative health insurance solutions to new customer segments. The insurer is committed to increase penetration of health insurance in Kerala market and provide its customers with easy and lifetime access to quality healthcare.
As health insurance expert, ManipalCigna Health Insurance saw a robust growth from the southern region - Kerala, Andhra Pradesh, Karnataka, Telangana and Tamil Nadu. The Company has garnered over ?500 crore gross written premium (GWP) with 37% growth in the financial year 22-23 in the southern region. ManipalCigna has close to 20,000 advisors, major partners present in around 5,000 point of sales locations across the region through distribution network, and 25 branch offices in South India. Further, the standalone health insurance company has 3,300+ network hospitals in South India, out of the 8,700+ pan-India hospitals across the country. As part of its expansion in the southern region, ManipalCigna Health Insurance aims at launching new branch offices, plans to hire more employees and nearly 10,000 agents for South push in FY24, and expects its business to double to ?1000+ crore GWP in the next 2 years.
Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, commented, “Kerala is reputed to have the best health system in India. However, at the same time, the state ranks 2nd highest in the country in terms of Out-of-Pocket Expenditure (OOPE) which is above the national average. With ~68% of medical expenditure being paid from dipping into retirement corpus or taking a personal loan or selling gold or other assets.Thus keeping in mind the increasing healthcare incidences and treatment cost, we at ManipalCigna are committed to secure an individual’s and a family’s domestic and global healthcare requirements by offering affordable, predictable, and simple health insurance solutions to secure not just the current health needs of people in Kerala but also the ones people are likely to require at different stages of their life.”
Desai further added, “The state of Kerala and all of Southern India remains growing markets for us, and we at ManipalCigna Health Insurance are committed on improving the health and financial well-being of our customers in this region. The partnership of Manipal Group’s local expertise – being the second largest hospital chain in India and Cigna Healthcare’s global experience has made us a truly differentiated healthcare-financing provider, and we plan to continue our growth journey in South India. Further, our robust multi-channel distribution network and multi-product offerings supports us to expand our footprint across previously unchartered territories and enables us to provide bespoke health insurance products and services to ease the healthcare financing burden of the people in Kerala”.
To secure the complete health and financial well-being of people in Kerala, ManipalCigna also has corporate agency agreement with Geojit Financial Services and South Indian Bank both companies headquartered in Kochi, to distribute its health insurance products through their extensive network of branches. Under the agreement, Geojit Financial Services, South Indian Bank along with other corporate agency partners such as Union Bank of India, DBS Bank among others offer the entire gamut of ManipalCigna’s health insurance products and services to its millions of customers in South India through their respective network of branches across the southern region as well as through its digital platforms.
Ashish Yadav, Head of Products, added, “The prevalence of lifestyle, communicable, and non-communicable diseases is alarming and highlights the urgency to tackle these pressing health concerns. In response to the rising healthcare incidences and escalating treatment costs, ManipalCigna Health Insurance has been steadfast in introducing tailored health insurance products to meet the unique health needs of Kerala's residents. With products like Lifetime Health and Prime Senior, we offer customers many industry-first features to facilitate their unique healthcare needs. Further, our newly launched mobile app and chat bot enables our existing customers to avail services 24/7 and anytime, anywhere.”
ManipalCigna offers a range of customer-centric solutions tailored to meet the unique health insurance needs of their customers. One such solution is the ManipalCigna Lifetime Health plan, which provides comprehensive healthcare financing with Sum Insured options ranging from Rs. 50 lacs to Rs. 3 crores, covering both domestic and global healthcare needs. For NRIs staying away from their ageing parents in Kerala, the specialized ManipalCigna Prime Senior plan offers innovative features specially designed for Senior Citizens. Prime Senior plan also offers flexibility to senior citizens with hassle free coverage for pre-existing disease conditions from the 91st day onwards without any medical check-ups.
Company :-manipalcigna
Url :- www.manipalcigna.com