Cigna 2012 Annual Report Download - page 23

PART I
Business
Description of Business
Cigna Corporation was incorporated in the State of Delaware in GO GLOBAL: Cigna delivers a range of differentiated products
1981. Various businesses that are described in this Annual Report on and superior service to meet the distinct needs of a growing global
Form 10-K for the fiscal year ended December 31, 2012 middle class and a globally mobile workforce through expansion in
(‘‘Form 10-K’’) are conducted by its insurance and other subsidiaries. existing international markets as well as an extension of the
As used in this document, ‘‘Cigna’’, the ‘‘Company’’, ‘‘we’’ and ‘‘our’’ Company’s business model to new geographic areas.
may refer to Cigna Corporation itself, one or more of its subsidiaries, GO INDIVIDUAL: Cigna strives to establish a deep understanding
or Cigna Corporation and its consolidated subsidiaries. of its customers’ unique needs and to be a highly customer-centric
Cigna had consolidated shareholders’ equity of $9.8 billion and assets organization through simplifying the buying process by providing
of $53.7 billion as of December 31, 2012, and revenues of choice, transparency of information, and a personalized customer
$29.1 billion for the year then ended. Cigna’s revenues are derived experience. The Company’s goal is to build long-term relationships
principally from premiums, fees, mail order pharmacy, and with each of the individuals it serves and meet their needs
investment income. throughout the stages of their lives regardless of the customer’s plan
type: employer-based, government-sponsored, or individual
coverage.
Strategy and Key Developments
Executing on Cigna’s strategy, including the goals of achieving better
Cigna is a global health services organization with a mission to help its health outcomes for our global customers, improving employee
customers improve their health, well-being and sense of security. Its productivity and realizing medical cost savings is being achieved by:
insurance subsidiaries are major providers of medical, dental,
disability, life and accident insurance and related products and focusing on delivery of innovative health and wellness solutions
services, the majority of which are offered through employers and tailored to each of our employer and government clients;
other groups (e.g. governmental and non-governmental organizations, ensuring that we focus on the individual customer by providing
unions and associations). Cigna also offers Medicare and Medicaid deep customer insights through customer research and feedback;
products and health, life and accident insurance coverages primarily to and
individuals in the U.S. and selected international markets. In addition
to its ongoing operations described above, Cigna also has certain enhancing collaboration with physicians and hospitals to offer
run-off operations, including a Run-off Reinsurance segment. affordable access to value-based high-quality care.
Cigna’s long-term growth strategy is based on: (1) repositioning the In addition to investing in these capabilities, Cigna executed on its
portfolio for growth in targeted geographies, product lines, buying strategy during 2012 with three acquisitions that better position the
segments and distribution channels; (2) improving its strategic and Company in several key markets: seniors, individual and global
financial flexibility; and (3) pursuing additional opportunities in high supplemental. HealthSpring, the largest of the acquisitions,
growth markets with particular focus on individuals. strengthens Cigna’s ability to serve individuals across their life stages as
well as deepens the Company’s presence in a number of geographic
Cigna’s mission and focus on delivering value by serving the emerging markets. The addition of HealthSpring also brings industry leading
needs of our global customers is being accomplished through physician partnership capabilities, deepens Cigna’s existing client and
executing on our long-term growth strategy, that is: customer relationships, and facilitates a broader deployment of
GO DEEP: Cigna seeks to increase its presence and brand strength Cigna’s range of health and wellness capabilities and product offerings.
in key ‘‘go deep’’ geographic areas, grow in targeted segments or The acquisition of Great American Supplemental Benefits strengthens
capabilities, and deepen its relationships with current customers Cigna’s capabilities in the individual market in addition to allowing
through cross selling. Cigna to expand into the Medicare supplemental business, and our
CIGNA CORPORATION - 2012 Form 10-K 1
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