Careers at Cigna
Cigna provides a range of medical insurance products and services, with a view to ensuring that its customers receive appropriate and effective medical coverage.
Cigna organises its operations into three reportable business segments:
- Global Healthcare, comprising the Company’s Commercial and Government sub-segments, which offer medical, dental, behavioral health, vision, and prescription drug benefit plans, health advocacy programs and other products and services to insured and self-insured customers, as well as Medicare Advantage and Medicare Part D plans to seniors and Medicaid plans;
- Global Supplementary Benefits, which offers supplemental health, life and accident insurance products in selected international markets as well as in the US; and
- Group Disability and Life, which provides group long-term and short-term disability, group life, accident and specialty insurance products and related services.
Cigna was established in its current form in 1982 by way of a merger between the Connecticut General Life Insurance Company and INA Corporation, the parent corporation of Insurance Company of North America, the first stock insurance company in America. The Company’s traces its history back to the establishment of Insurance Company of North America, which was established in 1792.
Cigna is among the largest insurance companies in the world, with operations across the US, Asia, and Europe. It offers a broad portfolio of services to customers through its own sales force and a network of intermediaries. Cigna is ranked 79th on the Fortune 500 list and is placed 208th on the Forbes Global 2000 list. The Company trades a portion of its shares son the New York Stock Exchange and has a current market capitalization of $35.59 billion.
Benefits at Cigna
Business model of Cigna
Cigna offers a broad range of products and services an extensive customer base spanning multiple business sectors and markets. The Company’s customers can be arranged broadly into three principal customer categories:
- Individual Customers, including employees, families, and other individuals;
- Government, comprising various government agencies and bodies, including local and national government and public entities; and
- Commercial, comprising various medium and large-sized commercial entities from a range of sectors, including commercial and certain international health care businesses serving employers and their employees.
Cigna serves an extensive domestic customer base across the US. It also serves a range of international customers across Asia and Europe, including in key markets in South Korea, China, Taiwan, Indonesia, India, the UK and Turkey.
Cigna provides value to its customers in the following ways:
- Its global industry reputation, with the Company established as one of the largest and most well-known medical insurance providers in the world, with an international track record for providing high quality products and services;
- Its international sales and marketing reach, with the Company serving a large domestic customer base in the US, as well as offering products and services to customers in Asia and Europe, notably across Indonesia, South Korea, the UK, Taiwan, India, China, and Turkey;
- Its diverse product portfolio, with the Company offering an extensive portfolio of products and complementary services, including medical, dental, behavioral health, vision, and prescription drug benefit plans;
- Its use of technology, with the Company utilising state-of-the-art technologies and analytics to ensure that it provides effective and reliable services to its customers around the world; and
- Its industry expertise and experience, with the Company employing a network of highly-trained medical insurance professionals, as well as a team of experienced industry executives.
Cigna operates a website at www.cigna.com, through which it provides information on its various products, services, markets, and brokers. The Company also operates country-specific websites that tailor their content to local markets. This includes websites for the Company’s business in Hong Kong, the UK, Thailand, Spain, and New Zealand. Customers are able to browse plans and find brokers through the Company’s website, and are also able to manage their plans and access a range of resources through the Company’s online customer portal. The Company additionally offers resources and services through a dedicated mobile app.
Cigna makes a large portion of its sales through its own in-house direct sales force. These sales personnel operate out of the Company’s international network of offices, including in global hubs the US, the UK, Hong Kong, and China. The Company also makes sales and provides services through a network independent insurance brokers, consultants, and sales representatives, as well as via the Cigna private exchange and various third-party private and public exchanges.
Cigna offers a range of products and services to customers on a self-service basis. This includes certain resources and tools that can be accessed via the Company’s website, as well as the Company’s customer portal, which allows customers to manage their accounts, make payments, and place claims without interacting directly with members of the Company’s sales and support teams.
Cigna makes a large portion of its sales through its own direct sales force, the individual members of which work closely with clients to ensure that they receive effective and appropriate products and services for their circumstances. The Company offers a similarly personalised service through its network of third party consultants, brokers, and sales agents.
Cigna provides ongoing care and support to its clients who are able to contact the Company’s dedicated support teams in order to receive tailored responses to queries and enquiries, and direct assistance with claims. The Company also offers a range of online resources, such as guides, FAQs, and search tools.
Additionally, customers can follow the Company operations and interact with staff directly via its various social media accounts, including with Facebook, Twitter, YouTube, LinkedIn Pinterest, and Sina Weibo.
Cigna is a health services company. Together with its subsidiaries, the Company offers a range of medical, dental, disability, life and accident insurance and related products and services.
The Company aligns its operations into three core reportable business segments: Global Health Care, which aggregates the operations of the Company’s commercial and Government operating segments; Global Supplemental Benefits, which offers supplemental health, life and accident insurance products primarily in Asia, Europe and the US; and Group Disability and Life, which provides group long-term and short-term disability, group life, accident and specialty insurance products and related services.
Cigna offers its products through various channels, including its own direct sales force and a network of third party intermediaries. These channels are supported by the Company’s various online services and tools.
Cigna works in conjunction with a broad network of partner companies across its three operating segments. These partners can be organised broadly into the following categories:
- Supplier and Vendor Partners, including suppliers of various services, tools, and equipment that are utilised across the Company’s operating segments, as well as companies to which certain no-technical functions can be outsourced;
- Channel and Distribution Partners, principally comprising the Company’s network of third-party sales representatives, and independent brokers and consultants who provide products and services on the Company’s behalf;
- Technology Partners, comprising various hardware and software companies that work with the Company to develop and maintain its IT technology systems;
- Healthcare Partners, comprising various healthcare providers and professionals that provide medical care to the Company’s various customers; and
- Strategic and Alliance Partners, comprising a range of market-leading companies across multiple segments, with which the Company collaborates on various branding, marketing, and other projects.
Cigna has a number of partnerships in place. The Company recently strengthened its partnership with Hollard Insurance Group to jointly offer services in Sub-Saharan Africa, and has launched a partnership with retailer STORY.
Cigna’s key resources are its intellectual properties and technologies, its online platform, its IT and communications infrastructure, its network of partners, its network of independent sales agents and consultants, and its personnel.
Cigna owns a number of intellectual properties and technologies that are key to its operations. Searches of records published by the US Patent and Trademark Office identified several patent applications in which Cigna is named as assignee, including applications entitled ‘Portion of a display screen with an icon image’, ‘Method and apparatus for objectively monitoring and assessing the performance of health-care providers based on the severity of sickness episodes treated by the providers’ and ‘Method and apparatus for objectively monitoring and assessing the performance of health-care providers’.
Cigna also owns and or leases a number of office locations across its various operating jurisdictions.
Cigna incurs costs in relation to the development of its technologies and intellectual properties, the development and maintenance of its online platform, the settlement of claims and purchase of health services, the maintenance of its IT and communications infrastructure, the management of its partnerships and distribution agents, the implementation of advertising and marketing campaigns, and the retention of its personnel.
In 2015 Cigna’s largest expenses related to medical costs, which totalled $18.35 billion for the year. Other benefit expenses amounted to $4.94 billion. The Company also recorded mail order pharmacy costs in the amount of $2.13 billion and other operating expenses in the amount of $8.98 billion.
Cigna generates revenue through the provision of various medical insurance products, as well as related services such as prescription drug benefit plans, health advocacy programs. The Company’s revenue is derived primarily in the form of insurance premiums paid by customers each month, as well as in the form of service fees.
In 2015 Cigna generated total revenue for the year of $37.88 billion, up on the $34.91 billion recorded by the Company in 2014. The vast majority of the Company’s revenue was derived in the form of premiums, which totaled $29.64 billion for the year. Fees and other revenue totaled $4.49 billon, net investment income amounted to $1.15 billion, and mail order pharmacy revenue amounted to $2.54 billion.
info: David Cordani has served as President and Chief Executive Officer at Cigna since 2009, and is credited with leading the Company’s transformation into a leading global health service company. He is responsible for overseeing the overall strategic direction of the Company. Cordani also serves on the boards of directors at General Mills and the US-India Business Council. Cordani has been with Cigna since 1991. He has held a number of senior executive positions at the Company, including spells as Chief Operating Officer from June 2008 until December 2009, and Senior Vice President of Customer Segments and Marketing from 2004 to 2005. Prior to joining Cigna, Cordani worked for a number of years at Coopers and Lybrand.
info: Thomas McCarthy (“McCarthy”) has served as named Executive Vice President and Chief Financial Officer at Cigna since 2013. He has executive leadership responsibility for all of Cigna's financial operations and functions, as well as for Cigna's investment management and strategic planning units. McCarthy has been with Cigna for more than 26 years, having first joined the Company in 1980. He began his career at the Company in various financial and operational roles, going on to hold a number of senior executive positions. This included spells as Vice President of Finance with responsibility for treasury, tax, strategy and corporate development, and management of run-off reinsurance operations, Vice President and Treasurer, Senior Vice President of Cigna Risk Solutions, and Financial Officer for Cigna Integrated Care.
info: Mark Boxer (“Boxer”) was appointed Global Chief Information Officer at Cigna in 2011. He responsible for driving the Company’s worldwide technology strategy and ensuring the Company's infrastructure and applications are innovative, flexible and aligned with Cigna’s business strategy. In his early career Boxer spent ten years at Hewlett Packard in consulting and outsourcing, serving for a spell as Director of Strategic Planning. He went on to join Cigna for the first time, serving as Senior Vice President of Information Technology and eCommerce and as Chief Information Officer at group company Healthsource. He went on to serve as a member of WellPoint's executive leadership team, holding positions such as Chief Operations Officer, Chief Information Officer, and President of Consumer Health Plans. Prior to joining Cigna, Boxer served as Group President of Government Healthcare at Xerox and served as Deputy Global Chief Information Officer for the Xerox Corporation.
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