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A Truly Complete Health Insurance Solution, that offers you an Essential Shield, Infinite Power and Instant Peace.
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A comprehensive and flexible Health Insurance Plan that offers Better Coverage, Better Control and Better Care
A health insurance that lasts for a lifetime
Parents and elders took care of children in their most sensitive ages and phases of life. It is time to gift them the better Healthcare experience. Presenting ManipalCigna Prime Senior, a comprehensive Health Insurance plan which offers innovative features specially designed for Senior Citizens.
A comprehensive hospitalization plan for you and your family
Design your own health plan and pay for what you choose. Customise your plan according to your needs with ProHealth Select and reassure your future
The added boost that keeps you covered above and beyond your health plan.
Affordable standard health insurance plan
Standard Health Insurance Policy specially designed to cover Persons with Disabilities (PWD), Persons afflicted with HIV/AIDS, and those with Mental Illness
A plan that assures financial support and provides a safety cushion for a better tomorrow by providing complete protection, on and off the job, including death, disablement, repatriation of mortal remains and funeral expenses.
A plan that assures financial support and provides a safety cushion for a bettertomorrow by providing complete protection, on and off the job, including death, disability, loss of job and financial protection.
Standard Personal Accident Policy to safeguard your unexpected expenses arising from death or serious injury caused by an accident, while securing your finances
A vital protection for your financial health against life-changing critical illnesses that offers you the entire payment of sum insured on first diagnosis of listed illness.
A daily cash plan to financially aid hospitalization expenses
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Our All in One Plan to keep you healthy always
ManipalCigna Celebrates 10 Years of Exceptional Growth and Service in the Health Insurance Industry
Mumbai, 24 May 2024 – ManipalCigna Health Insurance, one of India's fastest-growing standalone health insurance company, today marks a significant milestone as it commemorates 10 years in business. Since its inception in 2014, ManipalCigna has demonstrated remarkable growth, cementing its position as a trusted Health Insurance Expert in safeguarding the health and well-being of millions across India.
The Company has grown exponentially since inception, with a 3.5x increase in Gross Written Premium (GWP) and a 2x rise in market share based on overall health insurance market over the last 5 years. In 2023-24 (FY24), the company reported a GWP of INR ~17 billion, growing at 28% CAGR over the last five years. With an unwavering commitment to customer-centricity, ManipalCigna has also witnessed a steady increase in its customer base, serving over 19 million active lives with comprehensive health insurance solutions tailored to their needs.
Commenting on this milestone occasion, Prasun Sikdar, Managing Director and CEO, ManipalCigna Health Insurance, said, "As we celebrate this momentous occasion, I am humbled and proud of what ManipalCigna has achieved over the past decade. Our journey has been defined by a steadfast commitment to our customers' health and financial well-being. Looking ahead, we remain dedicated to a culture of innovation and advancing quality healthcare accessibility to make a positive impact on the health and financial wellbeing of millions across India."
Sikdar, further added, “As we embark on the next phase of our journey, we at ManipalCigna remain steadfast in our mission to provide our customers with easy and lifetime access to quality healthcare. In the next 10 years we aspire to achieve 10x GWP through continuous distribution expansion and focus on multi-channel, multi-product, and multi segment approach. Additionally, we will continue to invest in our people, processes, and technology to ensure that we remain at the forefront of the health insurance industry”.
ManipalCigna Health Insurance has witnessed robust growth over the past decade. The company has expanded its employee base to 2,800 employees in FY24. Additionally, ManipalCigna has expanded its agent network, with the number of agents increasing from 12,000+ in FY19 to 70,000+ in FY24, representing a significant growth rate of 5x. The company has also increased its branch network in the last years, with the number of branches growing from 23 in FY19 to 79 in FY24.
Over the years, ManipalCigna has introduced several innovative products tailored to meet the diverse needs of its customers, including ProHealth Prime, Prime Senior, and LifeTime Health, which cater to different segments and provide comprehensive coverage for various healthcare needs. The company's rich expertise, along with differentiated product and technology led innovations with customer-centricity at the core has helped ManipalCigna expand its footprint across India, bringing its comprehensive health insurance solutions to every corner of the country. Over the past decade, ManipalCigna has also garnered widespread industry recognition for its pioneering initiatives and received numerous prestigious awards, for its innovative products and services.
Looking ahead, ManipalCigna Health Insurance is poised for continued growth and success. The company has outlined a strategic roadmap for the next decade, focusing on productivity, efficiency, product diversification, and digital transformation, to drive innovation and enhance customer experience across all touchpoints.
About ManipalCigna Health Insurance Company Limited
ManipalCigna Health Insurance Company Limited is a joint venture between Manipal Group, an eminent player in healthcare delivery and higher education in India, and Cigna Healthcare, a global health services company with over 230 years of experience. ManipalCigna is headquartered out of Mumbai and has 78 branch offices covering significant metros and towns. The company has built a strong multi-distribution network of over 70,000 agents and 500+ distribution partners across the country. ManipalCigna also has presence in 400+ cities in India through its distribution network and has a network of over 9000 hospitals across cities including tier I, tier II, and tier III towns in India. To learn more, visit www.manipalcigna.com
MEDIA CONTACT Eliza Lobo: 937-259-1626 eliza.lobo@manipalcigna.com
