Sep 26 2019
ManipalCigna Partners with IIFL Wealth to Provide Global Health Insurance Cover for HNI Customers
- A comprehensive product launched in Indian health insurance sector- ManipalCigna Global Health Group Policy offers global ‘cashless’ access to healthcare facilities across the world and hospital networks- Sum Insured up to USD 2.5 Million (INR 17.87 Crores approx/exchange rate: 71.51) per individual
Mumbai – September 26, 2019 – ManipalCigna Health Insurance Company Limited, a joint venture between U.S. based global health service leader, Cigna Corporation (NYSE:CI), Indian conglomerate TTK Group and Manipal Group, one of the leaders in healthcare delivery and higher education today partnered with IIFL Wealth Finance Ltd., a wholly owned subsidiary of IIFL Wealth Management Limited, one of India’s fastest growing private wealth management firms, with aggregate assets of around USD 24 billion under management, advice and distribution, to provide comprehensive global health insurance coverage designed for its high net-worth customers.
ManipalCigna Global Health Group Policy is among the few in the Indian health insurance market that offers a wide range of sum insured up to USD 2.5 Million (INR 17.87 Crores approx./exchange rate: 71.51) per individual.
The product offers ‘cashless’ access to healthcare facilities and hospitals across the world to IIFL Wealth customers, including best possible international emergency evacuation and medical repatriation services. The plan also provides cover for outpatient care including consultations, prescribed drugs, diagnostics and wellness. The policy offers cover for AIDS/ HIV, dental & vision, travel vaccination, health appliances with multiple deductible options.
Speaking about the partnership and product offerings, Prasun Sikdar, Managing Director and CEO, ManipalCigna Health Insurance Company Limited said, “Our partnership with IIFL Wealth is built on our shared passion for improving customer’s access to quality healthcare. We are confident that our global health insurance solutions will meet the unique health needs of IIFL Wealth’s high net worth customers - giving them access to the best medical care, anywhere around the world".
Karan Bhagat, Founder, MD & CEO, IIFL Wealth Management Limited said, “The Global Health Insurance cover offered by ManipalCigna to our clients fits perfectly into our bouquet of wealth management services. Given ManipalCigna’s vast experience in providing high standards of healthcare, our clients can rest assured in the knowledge that their medical needs and well-being will be taken care of across the world.”
About ManipalCigna Health Insurance Company Limited
ManipalCigna Health insurance Company Limited (formerly known as CignaTTK Health Insurance Company Limited) is a joint venture between Indian conglomerate TTK Group, Manipal Group, one of the leaders in the field of healthcare delivery and higher education in India and Cigna Corporation, a global health services company with over 200 years of experience. ManipalCigna is headquartered out of Mumbai and has 37 branch offices covering major metros and towns. The company has built a strong multidistribution network of over 20,000 agents, 250+ major brokers and is present in over 7,000 point of sales locations across the country through its distribution network. ManipalCigna also has tie-ups with 9 leading Banks, over 30 NBFCs and MFIs for distributing health insurance solutions and has a network of over 6500 trusted hospitals across cities including tier I, tier II and tier III towns in India. To learn more, visit www.manipalcigna.com
About About IIFL Wealth Management Limited
IIFL Wealth Management Limited IIFL Wealth Management is one of the leading wealth management companies in India. Today, it is the investment and financial advisor to more than 13,000 influential families in the High Net Worth Individuals (HNI) and Ultra HNI segments in India and abroad, with aggregate assets of around USD 24 billion under management, advice and distribution.
IIFL Wealth Management is one of the pioneers in the industry to bring about product innovations. The company won ‘The Best Family Office Services, India’ and ‘The Best Succession Planning Advice and Trust, India’ awards at Euromoney Private Banking and Wealth Management Survey, 2018 besides 89 other awards of repute since its inception in 2008.
General Atlantic, a leading global growth equity firm, has invested in IIFL Wealth Management and holds around 21 pc stake in the company. Six other investors including General Atlantic invested in the company. These include WF Asian Reconnaissance Fund (a fund managed by Ward Ferry), Rimco Mauritius, Amansa Holdings Pvt Ltd, General Atlantic Singapore Pte, Steadview and HDFC Standard Life Insurance.
Headquartered in Mumbai, IIFL Wealth Management has more than 900 employees and a presence in 7 major global financial hubs and 26 locations including India and around the world.