Cigna 2011 Annual Report Download - page 13
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TRAVEL EASY
Cigna’s 2011 acquisition of FirstAssist Insurance
Services positions us to grow our individual business
in the United Kingdom and around the world with the
addition of travel insurance products. FirstAssist, with
nearly three million policy holders in the UK, protects
customers and their families against unexpected events
through travel, health, employment and legal-related
insurance products. With travel up in Europe and Asia,
Cigna sees a significant opportunity to expand this
business on a worldwide scale.
WITH TURKEY, CIGNA NOW
HAS SALES CAPABILITIES IN
30 COUNTRIES
With the 2011 launch of Cigna Hayat Sigorta in Turkey,
Cigna expanded its sales capabilities to 30 countries
and jurisdictions.
Based in Istanbul, Cigna’s Turkish operation oers
an initial portfolio of health, life and accident products,
designed to meet the evolving needs of Turkey’s
consumers in a way that goes well beyond traditional
government oerings. Cigna is reaching consumers
through direct-response television campaigns
promoting life insurance for adults 55 and above,
online sales of personal accident policies, and inventive
eorts to educate Turkey’s people about the value of
private insurance.
GROWING IN CHINA
In 2003, Cigna formed its joint venture in China with
China Merchants Bank to sell individual health, life and
accident products. In the nine years that have followed,
this successful operation – Cigna & CMC Life Insurance
Co. – has consistently generated strong business results.
In 2009, the joint venture unveiled a comprehensive
health plan for employers in China. Last year, Cigna
& CMC embarked on the next phase of an ambitious
growth strategy for China as the company introduced
individual private medical policies in Shanghai. The
joint venture was also granted its 10th license in China,
enabling the opening of a sales and marketing operation
in Liaoning province.
The joint venture is poised to build substantially on its
nearly one million policy holders in the country. In fact,
Cigna’s marketing eorts, including direct-response
TV and internet channels, could now reach a potential
audience of more than a third of all Chinese consumers
– approximately 540 million people – a number that
reflects enormous growth potential for the company.
11
Cigna continues to focus on entering or growing
in countries where the rising middle-class wants
access to quicker and better health care. The mass
market in China and India alone is expected to grow
from 150 million to 900 million in the next 20 years.
This growth is a long-term market opportunity that
will be three times the size of the total U.S. market.