Cigna is a global health service company that provides medical, dental, disability, life, and accident insurance to individuals, families, and groups. With a history dating back to 1792, Cigna has established itself as one of the largest and most reputable health insurance companies in the world. Headquartered in Bloomfield, Connecticut, Cigna operates in over 200 countries and jurisdictions, offering a wide range of health and wellness services to its customers.
History and Evolution
Cigna’s history began in 1792, when the Insurance Company of North America (INA) was founded in Philadelphia. Over the years, the company underwent several mergers and acquisitions, eventually becoming the Cigna Corporation in 1982. In the 1990s, Cigna expanded its operations globally, entering markets in Asia, Europe, and Latin America. Today, Cigna is a multinational company with a diverse portfolio of health and wellness services, including medical, dental, vision, and life insurance, as well as health coaching and wellness programs.
Business Segments
Cigna’s business is divided into several segments, including:
- Cigna Health and Life Insurance Company: provides medical, dental, and life insurance to individuals and groups
- Cigna Behavioral Health: offers mental health and substance abuse treatment services
- Cigna Pharmacy Management: provides pharmacy benefit management services to clients
- Cigna Global Health Benefits: offers health and wellness services to expatriates and global citizens
Cigna's business segments are designed to provide comprehensive health and wellness services to its customers, with a focus on improving health outcomes, reducing costs, and enhancing the overall quality of life.
Products and Services
Cigna offers a wide range of health and wellness products and services, including:
| Product/Service | Description |
|---|---|
| Medical Insurance | Provides coverage for doctor visits, hospital stays, and other medical expenses |
| Dental Insurance | Covers dental care, including routine cleanings, fillings, and crowns |
| Vision Insurance | Provides coverage for eye exams, glasses, and contact lenses |
| Life Insurance | Offers financial protection for loved ones in the event of death or terminal illness |
| Health Coaching | Provides personalized guidance and support for healthy lifestyle habits |
Cigna's products and services are designed to meet the diverse needs of its customers, with a focus on prevention, early intervention, and effective treatment.
Technology and Innovation
Cigna has invested heavily in technology and innovation, with a focus on improving the customer experience, enhancing health outcomes, and reducing costs. Some of the company’s notable initiatives include:
- Telehealth services: allows customers to access medical care remotely, using video conferencing and other digital technologies
- Mobile apps: provides customers with access to health and wellness tools, including fitness trackers, health coaching, and medication reminders
- Artificial intelligence (AI): uses machine learning algorithms to analyze customer data, identify health risks, and provide personalized recommendations
- Blockchain: explores the use of blockchain technology to improve data security, interoperability, and transparency
Financial Performance
Cigna’s financial performance has been strong in recent years, with the company reporting significant revenue growth, improved profitability, and increased market share. Some of the company’s key financial metrics include:
| Metric | 2020 | 2019 |
|---|---|---|
| Revenue | 154.5 billion</td><td>143.8 billion | |
| Net Income | 5.1 billion</td><td>3.9 billion | |
| Market Share | 12.1% | 11.4% |
Cigna's strong financial performance is a testament to the company's commitment to providing high-quality health and wellness services, while also driving growth and innovation.
Sustainability and Social Responsibility
Cigna is committed to sustainability and social responsibility, with a focus on improving health outcomes, reducing environmental impact, and promoting diversity and inclusion. Some of the company’s notable initiatives include:
- Sustainability reporting: provides regular updates on the company’s environmental, social, and governance (ESG) performance
- Diversity and inclusion: promotes diversity and inclusion in the workplace, with a focus on attracting and retaining top talent from diverse backgrounds
- Community outreach: supports local communities through charitable donations, volunteer work, and health education programs
- Environmental stewardship: reduces the company’s environmental impact through energy-efficient operations, waste reduction, and sustainable supply chain practices
What types of health insurance plans does Cigna offer?
+Cigna offers a range of health insurance plans, including individual and family plans, group plans, and Medicare plans. The company also offers specialized plans, such as dental and vision insurance, as well as health savings accounts (HSAs) and flexible spending accounts (FSAs).
How does Cigna’s telehealth service work?
+Cigna’s telehealth service allows customers to access medical care remotely, using video conferencing and other digital technologies. Customers can schedule virtual appointments with healthcare providers, receive medical consultations, and obtain prescriptions, all from the comfort of their own homes.
