Cigna has recently provided details on its joint venture to sell health insurance abroad in India, including the company name, CIGNA TTK and will begin operations in 2013.
CIGNA, according to the Hartford Business Journal, is partnering with India's TTK Group, and named Sandeep Patel, who previously managed Cigna's Middle East business, as its new chief executive.
Cigna indicates that it views India, which is undergoing major public health challenges such as diabetes and hypertension, as an important market for its future. The country has 1.2 billion residents, and its healthcare spending is expected to grow significantly, the Journal noted.
The new venture aims to sell simple health insurance products over the counter, according to the Business Journal. "It will be a box product, and the buyer would be able to get a policy kit across the counter," said TTK Group Chairman T T Jagannathan. "These might be simple products for which medical tests are not essential, and the documents needed may be submitted online, once the customer reaches home."
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