maniapal Cigna Health Insurance Powerpoint.pptx

PPT

1. SUMMER INTERNSHIP PRESENTATION Madhav Kumar ROLL NO-19025 Batch: 2019-21 FACULTY MENTOR: Dr. SANGEETA YADAV

2. WHAT IS HEALTH INSURANCE? Helps pay for health care costs in the event of an injury, illness or disability. Covers medical and surgical expenses of an insured individual. Reimburses the expenses.

3. WHY DO WE NEED HEALTH INSURANCE? Medicare or medical costs are rising year on year. Changing Lifestyle Income Tax Benefit Coverage of PRE-Hospitalization Expenses Coverage of POST-Hospitalization Expenses

4. MANIPAL GROUP Founded by Dr. T.M.A. Pai in 1953. Third largest healthcare provider in India. 7000 beds across 15 hospitals. International presence through our hospital in Malaysia.

5. CIGNA CORPORATION Cigna is a global health services company. Headquartered at: Bloomfield, Connecticut, United States. Founded in 1982 by merger of CG and INA. 180 million customers. Presence in 30 countries and jurisdictions. 70,000+ employees. Ranked #13 on the 2020 Fortune 500 List Cigna named to the Dow Jones North America and World Indices in 2019. Global network of 1.5M with health care providers, clinics and facilities

6. MANIPAL CIGNA HEALTH INSURANCE COMPANY LTD Joint venture between Manipal Group and Cigna Corporation. 46 branch offices covering major metros and towns. 20,000 agents 250+ major brokers 7,000 point of sales locations. 6500 trusted hospitals

7. Customer segment Age of entry: 0-91 years Plan combinations Individual plan Family plan (2A+4C) Parents plan

8. Product Description

9. Major Players in Health Insurance industry HDFC ERGO Health Insurance Limited Star Health and Allied Insurance Company Limited Bajaj Allianz General Insurance Company Limited New India Assurance Company Limited Bharti AXA General Insurance Company Limited Tata AIG General Insurance Company Limited

10. Impact of Health Insurance on Indian Economy The healthcare market can increase three-fold to Rs 8.6 trillion (US$ 133.44 billion) by 2022. Indian medical tourism market is growing at 18 per cent y-o-y and is expected to reach US$ 9 billion by 2020. Gross direct premium income underwritten by health insurance grew 17.16 per cent y-o-y to Rs 51,637.84 crore (US$ 7.39 billion) in FY20.

11. Response of Company During and Post COVID -19 Waived mandatory co-payment Claim processed based on scanned documents. Medibuddy portal is launched through Google Play Store. Dedicated Team is established to cater the need. Extended the Grace period

12. Limitations Unorganized company structure Sometime stressful work environment Lack of Fresh talent Lack of communication. Business plan can be made more innovative.

13. Suggestions Website should be more interactive. Chatbots should be used to enable more insights on general FAQS. More Focus to be given to Digital Marketing Methodology, SEO Optimization. Social media promotions LinkedIn profile, Facebook and Instagram profile of the company needs to be updated Marketing Cloud and CRM platform should be used

14. Major Learnings Learned the skills of handling customer objections. Enhancing communication skills Lead Generation Sales and marketing activities involved in the company. Meeting virtually through Zoom conferences and webinars Providing Customer insights to the team participating and nurturing new connections

15. Thank you