Cigna Health Plans – From Marine Insurance to Healthcare
October 28, 2010 | In: Health Insurance
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While Cigna, as a company, has been around since 1792, the name Cigna did not appear until 1982. In 1792 Cigna was simply the Insurance Company of North America, better known as INA, providing insurance policies for marine purposes. Cargo and hull insurance was sold by INA to marine outfits to protect and insure against costly damages to the ship or its cargo. Two years later, INA issued its first life insurance policy for captains. Later that same year (1794) INA was to begin offering fire and life insurance policies in addition to marine insurance. However, Cigna health plans were a long, long way off.
Over the years, INA and another company, Connecticut General Life Insurance (CG) continues to blaze a new trail in the budding insurance business. CG expands into group coverage as well as investments and retirement benefits, while INA expands fire, life, and health insurance. In 1942, INA wrote health insurance policies at the request of the US government for the members of the Manhattan Project. Just a few years later in 1947, CG firmly plants itself as the life insurance company of the wealthy by marketing life insurance as part of estate planning. Still, Cigna health plans are far from development.
In 1950, CG launches the first catastrophic health insurance policy which covers major medical expenses in the event of a dire emergency or catastrophic illness. In 1958, INA becomes the first insurance provider to use computerized databases, with CG following close behind the following year. In 1981, the two companies announced plans to merge. In 1982, the name Cigna was chosen by combining the initials of both companies. By 1995, publicly traded shares of Cigna sold for $100 per share and just three years later in 1998, shares are selling for $200 each. It is during the exponential growth years between 1982 and 1998 that the collective Cigna development and years of insurance industry trend-setting begin to establish Cigna health plans as industry leaders.
Today’s Cigna health plans consistently seek to stay ahead of consumer demands in terms of cost, benefits, and customer service. Cigna has developed a reputation over the last 200+ years for innovation, social responsibility, and industry leadership. In addition to their heavy involvement with charities such as the March of Dimes, Cigna has received numerous awards as a company. Leaders of Cigna have also received awards and accolades from international governments and professional organizations.If you need assistance in locating particular coverages at a pre-determined price, we can help you obtain a health insurance quote, and save up to 50% on your monthly premium.
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