ManipalCigna Health Insurance, a rapidly expanding independent health insurance company in India, is proactively extending its presence in Hyderabad and nationwide. It aims to cater to diverse healthcare financing needs and introduce innovative health insurance solutions to new customer segments.
In the fiscal year 2022-2023, the insurer achieved a significant gross written premium of over Rs 150 crores in Andhra Pradesh and Telangana, making it the second-largest market for business growth in South India. The company is dedicated to increasing the adoption of health insurance in these regions, ensuring convenient access to high-quality healthcare services.
During the fiscal year 2022-23, ManipalCigna reported a gross written premium (GWP) of Rs 500 crore, marking impressive 37 per cent growth across the southern market, including Telangana, Andhra Pradesh, Karnataka, Kerala and Tamil Nadu.
As a standalone health insurer, the company has ambitious plans to double its business, targeting a GWP of more than Rs 1000 crore within the next two years. This expansion strategy includes the launch of new branch offices, a significant increase in the workforce, and the recruitment of over 10,000 agents in the southern region.
Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, stated, "Andhra Pradesh and Telangana have a high prevalence of non-communicable diseases. ManipalCigna is committed to providing reliable health insurance solutions to safeguard our customers' well-being in the region. Our 'Lifetime Health' and 'Prime Senior' products have been well-received, reflecting our commitment to comprehensive health coverage for all."
ManipalCigna offers a range of customer-centric solutions, including the ManipalCigna Lifetime Health plan, providing Sum Insured options from Rs 50 lakhs to Rs 3 crores. They also offer the 'ManipalCigna Prime Senior' plan for senior citizens and the ManipalCigna Accident Shield Plan, a highly adaptable personal accident policy. Additionally, the ManipalCigna ProHealth Prime plan caters to individuals dealing with various medical conditions.
In essence, ManipalCigna is making strides in the health insurance sector, extending its reach and commitment to providing diverse and innovative solutions to meet their customers' unique needs.