- Rs. 5 Lakh Coverage @ Rs. 12.9/Day
- 7 Lakh+ Happy Customers
- 100%Free Health Check-up
- 10,000+Hospitals for Cashless Treatment
We promise limited calls
Indian Health Insurance Market Welcomes Cigna Corp.
- DetailsWritten by PolicyBazaar -
- Hits : 1597 -
Modified 24 March 2017
Cigna Corp in association with TTK Group, south Indian multinational, announced its entrance in the health insurance sector of India.
The chief executive officer of the joint venture, Cigna TTK Health Insurance CO. , Sandeep Patel said that they are to start with six branches in India and both the groups have invested $22million in this project.
As per the telephonic interview of Jason Sadler, global head of individual insurance business at Cigna, with The Wall Street Journal, he believes India is important market for them.
As per the stats available from World Health Organization, health care receives only 3.9% of the gross domestic product though India. Insurance covers only 14% of total private expenses on health. Till date various foreign companies have entered this sector via joint ventures but have not seen much profit, majorly because of the new regulations. For the expansion process the capital required by the ventures is not sufficient as they are not receiving it from Indian partners nor they can borrow from foreigners. New York Life Insurance and Dutch insurer ING Groep NV sold their stake because of the same reason.
Health insurance has so much space to grow as people in India live in large families relying on each other for care and they are generally unsure if the insurer will pay for the medical expenses. Cigan in this segment believes that educating people regarding the importance of health insurance and focusing the cities with high ration of lifestyle diseases can make them sustain in the market.
- Most Read
- Safeguard Your Medical Concerns with the Right Health Insurance Plan
Date: 28 December 2017
- Here’s How You Can Safeguard Your Future from Accidental Deaths
Date: 22 December 2017
- How You Can Save Taxes with Medical Expenses
Date: 30 November 2017
- Why One Needs Health Insurance with High-risk Cover
Date: 28 November 2017
- A Handy Guide for NRIs Seeking Health Insurance in India
Date: 27 November 2017
- Best Health Insurance Plans in India
Views : 517513
- Here’s the Difference between Health Insurance and Mediclaim
Views : 61730
- Rashtriya Swasthya Bima Yojana (RSBY)
Views : 34093
- Pradhan Mantri Suraksha Bima Yojana
Views : 33225
- Central Government to Launch - New Health Insurance Schemes
Views : 30401