Cigna 2011 Annual Report Download - page 12
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GO
GLOBAL
GLOBAL EXPANSION
Cigna’s joint venture with TTK in India continues Cigna’s expansion into emerging
markets worldwide
Soon, when shoppers in India buy a pressure cooker or kitchen appliance, they also may end up buying a health
plan. Or, they might pick up health insurance from a neighborhood pharmacy, or learn about health coverage from
their doctor.
This easy access to private health plans in India is being made possible by the formation of CignaTTK Health
Insurance Company, a unique joint venture between Cigna Corporation and TTK Group, a consumer products
household name in India. The 80-year-old TTK conglomerate, whose brand stands for Trust, Transparency and
Knowledge, sells consumer durable goods, pharmaceuticals, biomedical devices and health care services. TTK
reaches a vast majority of Indian households – on average, a TTK product is sold every five seconds.
The new joint venture combines Cigna’s proven track record in international markets with TTK’s vast distribution
network and represents a powerful force in creating a new and innovative approach to improving health and
well-being in India. Currently undergoing regulatory approval, we expect the operation to open its doors in 2013.
CignaTTK plans to set up a distribution network through which simple health insurance products can be sold at
any TTK store or over the counter through a network of more than 100,000 pharmacies and physicians.
Cigna saw a growing need in India. With 1.2 billion people – one-sixth of the world’s total population – India has the
world’s largest diabetes population and accounts for 60 percent of the world’s heart disease. As consumer income
increases, health care spending is expected to grow significantly over the next decade – giving rise to interest in
the health and wellness programs that Cigna oers to help customers make lifestyle changes and manage chronic
medical conditions.
CignaTTK will be headquartered in Mumbai. Initial product oerings are planned to include individual private
medical insurance, supplemental health and accident products, and health benefits for India-based multinational
employers to cover their globally mobile workforce.
PROVIDING CLEAN WATER
FOR INDIA
Thirty-eight million people in India get sick every year from
waterborne diseases, making clean water one of the most important
health priorities in India. As part of Cigna’s commitment to India,
the Cigna Foundation donated $25,000 to Water for People for clean
water projects in West Bengal – bringing Cigna’s total contribution
to nearly $200,000 since 2008.
10
GO GLOBAL is about maximizing Cigna’s capabilities in new geographies and
further supporting a globally mobile population
HOW WE