CIGNA International will develop and offer individual private medical insurance (PMI) for citizens in countries outside the United States as well as to individual expatriates and high net worth individuals.
CIGNA International will develop and offer individual private medical insurance (PMI) for citizens in countries outside the United States as well as to individual expatriates and high net worth individuals.
CIGNA is focusing on the international market because it sees growth in many regions of the world as a growing middle class seeks coverage for rising out-of-pocket costs, reduced or eliminated services and catastrophic illnesses.
“There are emerging health issues around the world such as aging populations and an increase in chronic illnesses,” says CIGNA spokesperson Gloria Barone. “Take India, where the share of chronic diseases such as diabetes and hypertension is expected to rise to 57% in 2020, up from 29% in 1990. This is bringing an increased interest in leveraging U.S.-style capabilities to manage care and reduce health related costs - and it’s fueling business opportunities for CIGNA.”
Barone says health care outside of the U.S. is still vastly different than it is in the U.S. and it continues to evolve to meet changing consumer needs. In most countries around the world, the concept of private medical insurance is just beginning to emerge, she says, and it’s often a supplement to local government-run programs.
“Health programs vary country-by-country,” she says. “In the markets where we do business outside the U.S., all have some form of a government-run health program. The state of these systems vary, often creating unmet needs in the health care marketplace.”
For CIGNA, these emerging needs of individuals, companies, business partners and governments around the world represent an opportunity.
“We are introducing two products: private medical insurance for individual expatriates and private medical insurance for individual citizens of Spain and, over time, other countries,” Barone says. “With respect to Spain, we already have a well established group health care business in the country. We can immediately use the underwriting expertise, networks and medical management capability already in place to build and market an individual PMI product there.”
Keith Biddlestone has been appointed to lead CIGNA's international individual PMI effort. He will be responsible for establishing and implementing the company’s individual PMI strategy on an international scale. Biddlestone comes to CIGNA from Bupa International where he spent more than 25 years in a variety of health care leadership positions in both Europe and the Asia-Pacific regions
Muthiah “Muthu” Vaduganathan Discusses the Role of SGLT2 Inhibitors in Heart Failure Treatment
March 27th 2024Editors of Managed Healthcare Executive spoke with Muthiah “Muthu” Vaduganathan MD, MPH, consultant cardiologist at Brigham and Women's Hospital and a member of faculty at Harvard Medical School, about the evolving treatment landscape for heart failure, emphasizing the use of SGLT2 inhibitors alongside other foundational therapies.
Read More
In this second part of a two-part podcast episode, Managed Healthcare Executive's Managing Editor Peter Wehrwein spoke with CeCi Connolly and Margaret "Meg" Murray about Medicare Advantage utilization and challenges, highlighting proposed CMS payment cuts and prior authorization issues.
Listen
With aging populations, osteoporosis rates are set to increase, and researchers are looking for the next innovative drug to help prevent or manage the bone disease as there is currently no drug that completely does so effectively, according to a recent study published in Advanced Science.
Read More
In this first part of a two-part podcast episode, Managed Healthcare Executive's Managing Editor Peter Wehrwein kicks off our new podcast series "DC Roundtable," with guests Margaret "Meg" Murray, CEO of the Association of Community Affiliated Plans, and member of MHE's Editorial Advisory Board, and CeCi Connolly, president and CEO of the Alliance of Community Health Plans, for a discussion on healthcare policy issues.
Listen
2024 Emerging Leaders in Healthcare — Submit For a Chance to Be Featured in MHE's August Issue
March 26th 2024MHE Editors are seeking diverse healthcare professionals from different backgrounds and healthcare sectors, with individual interests. Eligible candidates are early or mid-career leaders with less than 10 years of experience. Award winners will enjoy complimentary passes to the PBMI Annual National Meeting in Orlando, Florida, from Sept. 4-6. Additional perks include a feature in our August issue, a subscription to MHE and more!
Read More