Expects market to double in the next 2 years
- 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: 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 health customer segment, with its innovative health insurance solutions. The Company witnessed robust growth from the western states of India, with the western zone contributing to 35% of the company’s Gross Written Premium (GWP) in FY23-24.
As a health insurance expert, ManipalCigna Health Insurance saw 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 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 as “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 consultations, prescribed diagnostic tests, and pharmacy expenses that are mostly paid 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 companies in India, addressing the unique health needs of individuals and offering comprehensive coverage to take care of customer’s healthcare financing requirements.
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