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ManipalCigna’s Health Insurance strengthens its presence and reach with enhanced health insurance solutions in Eastern India
ManipalCigna Health Insurance continues to strengthen its presence in the eastern markets, with its innovative solutions, records a 38% rise in gross written premium in FY 22-23, and expects the market to double in the next two years.
The Company launched ManipalCigna Lifetime Health with Sum Insured up to Rs 3 Crores each, for domestic and global coverage and unlimited restoration of Sum Insured for unrelated illnesses for coverages in India, to ensure you never run out of cover amongst others. Further, customers are empowered to customize their coverage with cumulative bonuses, worldwide medical emergency hospitalization, and comprehensive coverage for maternity, surrogacy, and oocyte donor procedures.
Kolkata, January 16, 2024:
ManipalCigna, one of the fastest-growing standalone health insurance companies, is actively expanding in India and eastern markets to tap into diverse customer segments with its innovative health insurance solutions. Leveraging its strong multi-channel distribution network and multi-product offerings, the company is at the forefront of healthcare financing and is dedicated to providing lifelong access to quality healthcare to people of the Eastern Region.
As a standalone health insurance entity, ManipalCigna has a network of close to 1000 hospitals in the Eastern region, out of the 9,000+ pan-India hospitals across the country. To further strengthen its presence and serve the patients in Eastern India, in 2023 Manipal Hospitals also acquired stakes in Kolkata-based AMRI (Advanced Medical Research Institute) Hospitals. This makes Manipal Hospitals the largest hospital chain in eastern India to effectively address the growing demand for high-quality tertiary and quaternary healthcare in Eastern India.
Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, said, “As per the National Health Account (NHA) report, in West Bengal 67% of people rely on Out-of-Pocket Expenses (OOPE) to cover their healthcare-related costs. Several research studies also show health concerns of diabetes, hypertension, and obesity, and the West Bengal state has also consistently ranked high in the number of cancer cases over the past years. Thus, to address the health challenges and associated treatment costs, ManipalCigna offers various tailored health insurance solutions such as Manipal Cigna Lifetime Health that covers illnesses and hospitalizations and offers Sum Insured up to ₹3 crore to cater to the unique health requirements of the West Bengal market.”
Desai further added, “As a health insurance expert, Manipal Cigna Health Insurance saw robust growth from the eastern region. The Company has garnered 38% gross written premium (GWP) growth in the financial year 22-23 and we expect our business to double in the next 2 years in the eastern region. We have close to 8,000 advisors, major partners present in around 1500 point of sales locations across the region through the distribution network, and 12 branch offices in Eastern India. As part of our expansion plan, we aim to launch new branch offices and plan to hire more employees and agents for East Push in FY24.
To address the healthcare financing burden in the state, the insurer has launched ManipalCigna Lifetime Health with a Sum Insured up to Rs 3 Crores each, for domestic and global coverage, unlimited restoration of Sum Insured for unrelated illnesses for coverages in India, to ensure policyholders never run out of cover, amongst others. Further, customers are empowered to customize their coverage with cumulative bonuses, worldwide medical emergency hospitalization, and comprehensive coverage for maternity, surrogacy, and oocyte donor procedures to ensure our policyholders have a lifelong expert in health, providing financial security and peace of mind.
Customize features under ManipalCigna Lifetime Health with:
Guaranteed Cumulative Bonus @ 15% of the Sum Insured (SI) of your Lifetime Health Policy each year, irrespective of claims
Worldwide Medical Emergency Hospitalization covers up to ₹1 Crore
Newborn expenses, and 1st-year vaccinations for newborns are available with Maternity Cover of SI of ₹1 Lac
Surrogate mother’s pre and post-hospitalization with coverage of SI up to ₹1 Lac covered under the Surrogacy cover.
Oocyte donor coverage is available for SI of ₹1 Lac towards any complications arising due to oocyte retrieval.
ManipalCigna is committed to offering affordable solutions, ensuring accessibility and financial security for individuals and families in Eastern India. The insurer is committed to increasing the penetration of health insurance in the Eastern Indian market and providing its customers with easy and lifetime access to quality healthcare.
