Cigna 2014 Annual Report Download - page 7
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GROUP DISABILITY AND LIFE
Our Group Disability and Life business segment –
which provides life, accident and disability insurance,
along with back-to-work programs – delivered
solid results, with premiums and fees increasing
by six percent over 2013, and full-year adjusted
income from operations* of $317 million. These
results reflected favorable claims experience in
Cigna’s life insurance business and a lower
operating expense ratio. Cigna continues to be a
leader in group disability product sales, and we
maintain a strong share of the market for group
disability, life and accident solutions as well as for
leave of absence programs such as Family and
Medical Leave Act (FMLA) administration.
Creating a more sustainable health care
environment
We are proud of the results we’ve generated for
our shareholders as well as for those we serve
around the world.
Market by market, the global environment is
a challenging one for those of us in the health
service sector. It’s far more so for the millions of
individuals trying to manage their health, and the
health of their families, in a way that’s eective,
aordable and relevant to their personal needs.
The anxiety and confusion of consumers
surrounding their health care is easy to
understand.
For example, in the United States, health care
costs have grown faster than the economy over the
past three decades, with health care expenditures
on pace to represent $1 of every $5 produced by
the United States economy by 2021.
Further, chronic diseases – many of them
preventable with better lifestyle and behavior
choices – represent about 75 percent of United
States health care spending. Chronic diseases are
the leading cause of death and disability in the
United States, accounting for seven out of every
ten deaths each year.
At the same time, there’s a significant
“disconnect” between individuals and their
medical costs, with too many people acting
as passive consumers of health care, in large
part because of the diculty in navigating and
engaging with a high-cost, fragmented system.
Yet, these same consumers of health care are
expected to understand and select from more
choices than ever before.
Ultimately, these individuals want peace of mind.
Fulfilling these needs is a dynamic process, as
customer needs evolve and vary over time due
to life and health stage changes.
5