ManipalCigna Health Insurance Awarded Most Innovative Insurer of the Year by FICCI
Read about ManipalCigna Health Insurance's recognition as the Most Innovative Insurer of the Year by FICCI. Explore how their innovative practices are reshaping the insurance landscape.
- (1888PressRelease) June 20, 2024 - ManipalCigna Health Insurance Company Limited, has been awarded the prestigious 'Most Innovative Insurer of the Year” by the Federation of Indian Chambers of Commerce and Industry (FICCI) at the Insurance Industry Awards.
The FICCI Insurance Industry Awards recognizes innovation and excellence in the insurance industry. The awards are judged by an esteemed panel of experts, and winning this esteemed award is a testament to ManipalCigna Health Insurance's commitment to delivering innovative products that meet the evolving healthcare needs of every customer segments.
Speaking on the occasion, Prasun Sikdar, MD and CEO of ManipalCigna Health Insurance said, "We are delighted to receive the 'Most Innovative Insurer' of the year award by FICCI. This award is a testament to our unwavering commitment to innovation and our focus on delivering fully loaded products through our multi-product, multi-segment and multi-distribution strategy. This award will further inspire us to drive more affordable, predictable, and simple health insurance products that cater to the changing needs of customers across segments and provide our customers with lifetime access to quality healthcare”
ManipalCigna Health Insurance has been at the forefront of innovation in the health insurance industry, leveraging cutting-edge technology and customer insights to develop products, such as ‘ManipalCigna ProHealth Prime’, ‘ManipalCigna Lifetime Health’, ManipalCigna Prime Senior, ‘ManipalCigna Health 360 Rider’ among others. These products are designed to cater to the changing needs of customers and provide comprehensive protection against hospitalization expenses as well as out-patient expenses.
In India, out-patient department (OPD) expenses which includes doctor consultations, lab tests and pharmacy expenses accounts for nearly ~62% of healthcare costs, not only that, non-medical expenses amount to around 10% to 12% of the overall hospitalization bills that are paid as out of pocket. ManipalCigna identified couple of customer segments where either there are no health insurance solutions for them or the options are very limited. Segments such as:
ManipalCigna identified couple of customer segments where either there are no health insurance solutions for them or the options are very limited. Segments such as:
Customers looking for OPD cover
Customers who suffer from Diabetes, Hypertension, Cholesterol, Asthma and Obesity are largely rejected
Customers who are planning to avail infertility treatment through IVF or IUI
Customers who would like to cover 100% of their hospitalization expenses including the expenses pertaining to Non-Medical Items (consumables) which are largely excluded
With innovation at the core of the Company’s values, ManipalCigna Health Insurance has truly demonstrated the innovation by way of various innovative products at an affordable premium and through its multi-product, multi-segment and multi-distribution strategy ensures that the innovation reaches the last mile customers effectively.
MEDIA CONTACT
Eliza Lobo: 937-259-1626
eliza.lobo ( @ ) manipalcigna dot com
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