Cigna 2008 Annual Report Download - page 11
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9
Organizational and Operational Initiatives
We’re determined to maintain our momentum and work to grow earnings in a sustainable
way. To that end, we initiated a far-reaching series of actions in 2008. In particular, we:
Set in motion an organizational realignment that will enable our ongoing businesses to
function in a more concerted way, better equipped to deliver the fully integrated health
and wellness solutions our customers require.
Instituted a far-reaching plan to manage our business expenses and substantially reduce
our day-to-day operating costs, while maintaining a high level of service.
Sharpened our strategic focus to identify and cultivate promising growth opportunities
in markets and business segments with high potential, especially those likely to grow in
an environment of health care reform.
The market for small groups – small businesses with fewer than 250 employees – and for
benefi ts sold to individuals, represents such an opportunity. In 2008, we made strong
progress in integrating the operations of Great-West Healthcare – a company with deep
experience in the small group arena – following our acquisition of that organization.
Great-West Healthcare has already enhanced our position in promising geographic markets
of the country – notably the western United States – and improved our competitiveness and
capabilities in the small business sector. It is also a solid contributor to earnings.
Outlook for 2009
I’m positive about CIGNA’s prospects for the future. Here’s why:
We’re fi rmly focused on growing our businesses in a profi table, sustainable way and
generating shareholder value.
We’re well capitalized and have the fi nancial strength and fl exibility to compete
successfully in the current market conditions.
We’re working to improve our competitive cost position and to expand in market
segments we believe hold promise and potential for growth as health care reforms
are implemented.
And – perhaps most important – we’re helping people stay healthy and secure, at a time
when the help we can offer is more critical than ever.
Essentially, we’re well equipped to meet the challenges of these turbulent times, and I’m
confi dent that we’ll deliver the value our customers and shareholders expect from us.
H. Edward Hanway
Chairman and Chief Executive Offi cer