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ManipalCigna garners 38 per cent GWP growth in East India in financial year 22-23

ManipalCigna garners 38 per cent GWP growth in East India in financial year 22-23

| @indiablooms | 17 Jan 2024, 10:32 am

Health insurance company ManipalCigna has garnered 38 per cent gross written premium (GWP) growth in East India in the financial year 22-23.

The company said it expects the business to double in the next two years in the eastern region.

Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, said, told IBNS at the sidelines of an event in Kolkata: "The company has garnered 38% gross written premium (GWP) growth in the financial year 22-23. We expect to maintain similar growth in the upcoming year. We expect our business to double in the next 2 years in the eastern region."

"We aim to expand our reach and distribution," she said.

Speaking on the expansion plan of the company,Ashish Yadav, Head of Products,ManipalCigna Health Insurance, told IBNS  "We have a robust expansion plan in place and we will follow it accordingly."

He said the company's expansion plan will create more employment opportunities.

"We are growing at about 38 per cent and we expect further expansion and hence create more employment opportunities in the upcoming days,"

As a standalone health insurance entity, ManipalCigna has a network of close to 1000 hospitals in Eastern region, out of the over 9,000 pan-India hospitals across the country.

In 2023 Manipal Hospitals also acquired stakes in Kolkata-based AMRI (Advanced Medical Research Institute) Hospitals.

Highlighting the scenario in West Bengal, Sapna Desai said, “As per National Health Account (NHA) report, in West Bengal 67% of people rely on Out-of-Pocket Expenses (OOPE) to cover their healthcare-related costs. Several research studies also show health concerns of diabetes, hypertension, obesity, and the West Bengal state has also consistently ranked high in the number of cancer cases over the past years."

She said: "ManipalCigna offers various tailored health insurance solutions such as Manipal Cigna Lifetime Health that covers illnesses and hospitalizations and offers Sum Insured up to ₹3 crore to cater the unique health requirements of the West Bengal market.”

(Reporting by Supriyo Hazra)

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