SHENZHEN, China, Sept. 12, 2013 /PRNewswire/ -- Global President and CEO of Cigna Corporation Mr. David Cordani was joined today by China Merchants Bank President, Mr. Tian Huiyu, Cigna & CMB Chairman, Mr. Zhang Guanghua and Mr. Steven Sun, CEO and General Manager of Cigna & CMB, in celebrating the 10th Anniversary of one of the most successful joint ventures in the financial services industry in China.
In marking a decade of success of the joint venture Cigna & CMB Life Insurance Company Limited -- a partnership between global health service company Cigna Corporation and China Merchant Group -- Mr. Cordani & Mr. Zhang discussed delivering life, personal accident and hospital indemnity insurance to customers in China and outlined strategies for future success to support China's rapidly evolving healthcare market in the decade to come.
"Our strong partnership with China Merchants Bank has already delivered Cigna & CMB's enviable track record of what is now a decade of success in the China market," said Mr. Cordani.
"Now we are extremely well positioned to play an even greater role in supporting China's healthcare system and insurance market in the future," he said.
Cigna is known as a global health services leader. The company provides health and financial protection products to both employees and individuals. It is a leader in group & employer segments for health insurance and services around the world.
The individual consumer is also an important segment for Cigna and with changing health trends in China, as around the world, and rising healthcare costs, healthcare insurance providers in China, such as Cigna & CMB, are in a strong position to help meet customer needs.
"Cigna & CMB is continuing its decade of success in building our business in China by offering customer-centric products and services that provide health, well-being and protection that cater to the Chinese customers' needs at different stages in their lives," said Mr. Cordani.
"In recognition of our 10th Anniversary and to mark our readiness and continuing business evolution to meet the needs of our Chinese customers for the next decade, Cigna & CMB is planning to launch a new branding initiative later this year that will see a personalization of the brand, delivering a more personal touch that talks to caring about each customer as a totally unique individual.
"Cigna & CMB's current positioning, 'A Century of Trust, A Valuable Promise' reflects both Cigna's and China Merchants Bank's long heritage, stability and financial strength. Extending from this, our new brand strategy, tailored for the Chinese marketplace, is: "We Care About You -- We Promise for You" and highlights Cigna & CMB's renewed pledge to help our customers in China nurture their strengths to achieve what matters most in their lives and work to embrace the real issues behind their financial protection needs that evolve through each critical life event in a person's life," he said.
Mr. Sun announced future plans to further extend Cigna & CMB's direct-to-consumer insurance sales channels. "With almost 500 million people online in the country, key industry commentators in China have highlighted the unique opportunities for healthcare insurance companies in China's digital consumer boom," he said.
"Cigna & CMB has already been highly active in this distribution channel in China since 2010, offering direct e-commerce sales, online promotion of health & protection insurance products in a relevant and easy to understand manner for lead generation across Internet and mobile platforms. This channel is gathering momentum and is becoming ever more important," he explained.
"To support this expansion we now plan to further invest in IT, TV and digital innovation, for delivering an ever more personalized customer experience.
Said Cigna & CMB Chairman Mr. Zhang: "Cigna & CMB's 10th Anniversary is a highly significant milestone. Over the years, our strong partnership has grown Cigna & CMB into a business of approximately 4,600 employees that serves well over one million active policy holders across nine provinces in China.
"Even as we celebrate the previous decade of success, we are looking forward to the future -- the next decade and beyond. Cigna & CMB will continuing to innovate and grow in China, striving to meet the health, well-being and financial protection needs of Chinese consumers."
