Facts About Cigna:
1. History:
Formation: Cigna was formed in 1982 through the merger of two insurance companies, Connecticut General Life Insurance Company (CG) and INA Corporation (the Insurance Company of North America), which was the first marine insurance company in the United States, founded in 1792.
Growth: Over the years, Cigna has expanded its offerings and geographical reach through various acquisitions, including the purchase of HealthSpring, a Medicare Advantage plan provider, and Express Scripts, a leading pharmacy benefits manager.
Global Presence: Cigna operates in more than 30 countries, serving over 180 million customer relationships worldwide.
2. Products and Services:
Health Insurance: Offers a wide range of health insurance plans, including individual and family plans, employer-sponsored plans, Medicare Advantage, Medicare Supplement, and Medicaid plans. Cigna’s health plans often include access to a broad network of doctors and hospitals, preventive care, and wellness programs.
Dental Insurance: Provides dental insurance plans that cover preventive care, basic and major dental services, orthodontics, and more. Several plans are accessible for single people, families, and employers.
Disability Insurance: Offers short-term and long-term disability insurance to help individuals protect their income if they become unable to work due to illness or injury.
Life Insurance: Provides term life, whole life, and universal life insurance policies, as well as accidental death and dismemberment (AD&D) insurance, to help protect families financially in the event of a loss.
Accident and Supplemental Insurance: Includes accident, critical illness, and hospital indemnity insurance, which provide additional financial protection to cover out-of-pocket expenses not covered by traditional health insurance.
Pharmacy Benefits Management (PBM): Through its subsidiary Express Scripts, Cigna offers pharmacy benefits management services that include prescription drug plans, home delivery of medications, and specialty pharmacy services.
Behavioral Health: Cigna provides behavioral health services, including mental health and substance abuse treatment, as part of its health insurance offerings. The company focuses on holistic care that integrates physical and mental health.
3. Global Operations:
International Markets: Cigna serves customers in over 30 countries, with significant operations in Asia, Europe, the Middle East, and Latin America. The company provides global health insurance plans for expatriates, multinational employers, and globally mobile individuals.
Global Health Solutions: Cigna offers tailored health insurance and wellness programs for international customers, including expatriates, students, and globally mobile employees, ensuring access to healthcare services worldwide.
4. Customer-Centric Approach:
Wellness Programs: Cigna emphasizes preventive care and wellness, offering a variety of programs and resources to help customers manage chronic conditions, improve their health, and maintain a balanced lifestyle. This includes wellness coaching, telehealth services, and incentives for healthy behaviors.
Personalized Support: Cigna provides personalized customer support through its network of health advocates, who help customers navigate the healthcare system, manage their benefits, and find the right care.
5. Technology and Innovation:
Digital Health Tools: Cigna invests in digital health tools and services, such as virtual care, mobile apps, and online portals, to enhance the customer experience and make healthcare more accessible. The Cigna One Guide® service offers personalized, real-time support to help customers understand their health benefits and make informed healthcare decisions.
Telehealth: Cigna offers telehealth services through its network of providers, allowing customers to access medical consultations remotely, which has become increasingly important, especially during the COVID-19 pandemic.
Pharmacy Innovation: Through Express Scripts, Cigna is at the forefront of pharmacy innovation, focusing on cost-effective drug management, home delivery services, and specialized care for complex conditions.
6. Financial Strength:
Ratings: Cigna is consistently rated highly by major credit rating agencies, reflecting its financial stability and ability to meet its obligations to policyholders. The company’s financial strength supports its extensive global operations and investment in new technologies and services.
Revenue: As one of the largest health insurers in the world, Cigna generates significant revenue from its health insurance and pharmacy benefits management businesses.
7. Corporate Social Responsibility:
Community Involvement: Cigna is committed to giving back to the communities it serves through initiatives focused on health equity, disaster response, and support for underserved populations. The Cigna Foundation supports charitable organizations that align with its mission to improve health and well-being.
Sustainability: Cigna is dedicated to sustainability and corporate responsibility, working to reduce its environmental impact and promote sustainable business practices.
8. Competitive Position:
Market Standing: Cigna is one of the top health insurance companies in the U.S., competing with other major insurers like UnitedHealthcare, Anthem, Aetna, and Humana. Its diverse product offerings, global reach, and focus on innovation help it maintain a strong competitive position.
Partnerships: Cigna partners with healthcare providers, employers, and other organizations to deliver integrated care solutions that meet the needs of different customer segments.
9. Customer Service:
Support: Cigna is known for its customer service, providing comprehensive support through call centers, online tools, and personalized services. The company aims to simplify the healthcare experience and help customers get the most out of their benefits.
Customer Satisfaction: Cigna consistently works to improve customer satisfaction by enhancing its products, services, and overall experience.
Cigna is a leading health services company with a strong focus on improving the health and well-being of its customers. With its broad range of insurance products, global operations, and commitment to innovation and customer care, Cigna is well-positioned to continue its leadership in the healthcare industry.
