Cigna's Market Position and Growth Strategy in the Health Insurance Industry

Sreekanth Narayan

Abstract: Cigna is a public limited company headquartered in Connecticut with an estimated 72, 370 employees. In the US, the company has a notable market share in its core business: Health and Medical Insurance, Mail Order, HMO Providers, and Mail Order. The largest vertical business unit the Mail Order industry accounted (for 24.3%) compared to the industry revenue. It is one of the profit centers since it displays a lower market share, but stronger profit and revenue growth than some of its peers (Aetna, Humana & United Health Group are the competitors in the Insurance industry). Cigna Corp accounts for 3.8% of all revenue in Health and Medical Insurance in 2023 compared to Cvs Health Corporation, which has the largest industry market share of 26.7%. Cigna Corp has seen an increase in their market share of 0.3pp since 219 while Cvs Health Corporation has increased by 5.4pp (my - ibiswrod. com, 09).

Keywords: Cigna Corporation, health insurance, market share, revenue growth, business strategy

How to Cite?: Sreekanth Narayan, "Cigna's Market Position and Growth Strategy in the Health Insurance Industry", Volume 14 Issue 2, February 2025, International Journal of Science and Research (IJSR), Pages: 1092-1099, https://www.ijsr.net/getabstract.php?paperid=SR25215043914, DOI: https://dx.doi.org/10.21275/SR25215043914