ManipalCigna Health Insurance Reports Strong Growth In Andhra Pradesh, Telangana

ManipalCigna Health Insurance, a health insurance company, in FY 22-23 reported a gross written premium of more than Rs.150 Crore in Andhra Pradesh and Telangana, the company said in a press statement on Friday. Andhra Pradesh and Telangana emerged as the second-highest markets for business growth for the company in South India, the company informed.

In the financial year 2022-23, the health insurance company reported an estimated Rs500 crore in gross written premium (GWP), achieving a 37 per cent growth in the entire southern market - Telangana, Andhra Pradesh, Karnataka, Kerala and Tamil Nadu. The health insurer expects to double its business to more than Rs.1000 crore GWP in the next 2 years and aims to launch new branch offices, increase employee strength and recruit over 10,000 agents in the south, the statement from the company stated.

Sapna Desai, Chief Marketing Officer, ManipalCigna Health Insurance, commented, “Andhra Pradesh and Telangana have a high prevalence of non-communicable diseases as per various industry surveys. With this in mind, we at ManipalCigna remain committed to providing reliable health insurance solutions to safeguard our customers' health and well-being in the region. Our 'Lifetime Health' and 'Prime Senior' product offerings have been well-received by the residents of this region, reflecting our commitment to providing comprehensive health coverage for individuals at all stages of life to meet their diverse healthcare needs.

Desai further added, “Our robust multichannel distribution network and a multi-product offering help us reach uncharted territories of the southern region and help combat the healthcare financing problems faced in the region. With the Andhra Pradesh and Telangana markets emerging as the second highest in terms of business growth for the company in South India, we at ManipalCigna aim to double our business in the coming year. To support this goal, we intend to recruit an additional 10,000 agents who will be instrumental in ensuring that our fully loaded health insurance products reach even more families and individuals across the state.”