ManipalCigna Health Insurance Achieves 46% GWP Growth in Maharashtra, Aiming to Double Market Share in 2 Years
ManipalCigna reports a 46% growth in gross written premiums (GWP) in Maharashtra. The company anticipates doubling its market share over the next two years, reflecting strong regional expansion and market confidence.
- (1888PressRelease) September 03, 2024 - The company reported a GWP of INR 1,692 Crores in the Financial year 2023-24
As part of its expansion in the western states of India, the company aims to hire 2,500 more agents in Maharashtra in the next twelve months
Pune, July 18, 2024 – ManipalCigna Health Insurance, one of India's fastest-growing standalone health insurance companies, strengthens its presence across West India to cater to healthcare financing needs and reach the new to health customer segment, with its innovative health insurance solutions. The Company witnessed robust growth from western states of India, with the west zone contributing to 35% of the company’s Gross Written Premium (GWP) in FY23-24.
As health insurance expert, ManipalCigna Health Insurance saw a robust growth from the western region. The company has garnered over ₹500 Crore gross written premium (GWP) with 46% growth in the financial year 2023-24. The health insurer has 12,000+ health insurance advisors, present across the region through its strong multi-channel distribution network. Furthermore, the standalone health insurance company has 1,700+ network hospitals in Maharashtra. As part of its expansion in the state, ManipalCigna Health Insurance aims to launch new branch offices in Pimpri, Satara, Nagpur, and Ratnagiri and onboard 2,500 advisors in the next twelve months.
Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, commented, “As per the National Family Health Survey 2019-21 report, only 22% of Families in Maharashtra have at least one member covered under health insurance. This highlights a significant gap in the health coverage across the state. At ManipalCigna, our goal is to make health insurance affordable, simple, and predictable and bridge the gap of health insurance accessibility. Through our extensive distribution network, we aim to serve the evolving and diverse healthcare financing needs of our customers with our tailored health insurance solutions.”
Ashish Yadav, Head of Products & Operation, said “ManipalCigna offers a range of customer-centric solutions tailored to meet the unique health insurance needs of their customers. One such solution is the ManipalCigna ProHealth Prime plan which comes with innovative features such “Non-medical Expenses” to ensure there are zero out of pocket expenses towards non-medical items during hospitalization. This plan provides individuals with better coverage, better control, and better care. In addition, it covers “Cashless OPD” coverage for doctor consultation, prescribed diagnostic tests and pharmacy expenses that are mostly paid as out of pocket, unlimited restoration of up to 100% and many more such enticing benefits. The ManipalCigna Pro Health Prime Active Plan caters to individuals dealing with medical conditions such as Diabetes, Obesity, Asthma, high Blood Pressure, and high Cholesterol.”
As part of its tailored solutions, ManipalCigna Lifetime Health plan, provides comprehensive healthcare financing with Sum Insured options ranging from Rs. 50 lacs to Rs. 3 crores, covering both domestic and global healthcare needs. For Retirees staying in Pune, the specialized ManipalCigna Prime Senior plan offers innovative features specially designed for Senior Citizens. Prime Senior plan also offers flexibility to senior citizens with hassle free coverage for pre-existing disease conditions from the 91st day onwards without any medical check-ups. This empowers senior citizens to access quality healthcare during their golden years.
With innovative and customer-focused product solutions, ManipalCigna Health Insurance stands out as one of the trusted health insurance company in India, addressing the unique health needs of individuals and offering comprehensive coverage to take care of customer’s healthcare financing requirements.
For more information on ManipalCigna Health Insurance's product portfolio of offerings, please visit the official website: https://www.manipalcigna.com/health-insurance
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 82 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 dot com
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