Cigna Worldwide Insurance Company Receives Branch License in Saudi Arabia, Plans Growth in the Kingdom

  • Cigna Worldwide Insurance Company is the first international health insurance provider to receive a branch license from the Saudi Central Bank to operate as a health insurer in the Kingdom of Saudi Arabia
  • Cigna will introduce a new proposition in the Kingdom, focused on offering localized health solutions with global capabilities
  • Cigna is committed to the growth of the health insurance sector in the Kingdom, in line with Vision 2030

RIYADH, Saudi Arabia, Feb. 6, 2023 /PRNewswire/ — Cigna Worldwide Insurance Company today announced that it has received an official branch license from the Saudi Central Bank (SAMA) to operate as a health insurer in the Kingdom of Saudi Arabia.

The announcement makes Cigna Worldwide Insurance Company the first international insurance provider to receive a branch license to operate in the Kingdom. Cigna Worldwide Insurance Company is part of the global Cigna group of health services companies serving over 180 million customers and patients in over 30 countries around the world (Cigna).

This license will enable Cigna to offer its best-in-class high-quality, affordable, and localized health insurance solutions, backed by its global capabilities to individuals, companies, and government entities in the Kingdom.

Cigna is committed to the growth of the health insurance sector in the Kingdom, in line with Vision 2030.

“This marks a significant milestone for Cigna in the Kingdom and across the Middle East and Africa region,” said Jason Sadler, president, Cigna International Health. “The license enables us to deliver a stronger value proposition, access, and service to our clients through a host of proprietary health and well-being products and services. Cigna has been in the region for nearly two decades, initially through local partners and then independently. We have a deep-rooted knowledge of the Middle East health insurance market, which helps us

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Should insurance companies be able to pressure you into using their own health care providers?

MINOT, N.D. — The fundamental problem with the American health care system is that those who ultimately receive the care aren’t in the driver’s seat.

When we go to the doctor or are admitted to the hospital, we aren’t really the customer for the care.

According to the American Medical Association

, in 2020, just 9.4% of all health care spending came directly out of pocket. Most care was paid for by private insurance plans or, far more often, the government through programs like Medicare and Medicaid.

Even most of us on private insurance plans aren’t really in control. Employers pick the insurance plans employees use. We may get to make a few choices around the edges, but for the most part, we take what we’re given.

This lack of choice is why health care costs have spiraled, growing at a rate that is multiples of other household expenses, such as rent, clothing, food, and even energy. Market forces, like competition among providers, keep prices in check. Or, at least, they keep them from growing as fast as they could.

But market forces are predicated upon individuals making choices. How many choices do we have regarding health insurance and health care?

Not many.

And, increasingly, as the health care and health insurance industries become indistinguishable from one another, the choices available to us narrow.

Taken medical industry behemoth Sanford, for example. That organization operates hospitals and clinics that provide care, sure, but it has also entered the health insurance market. Now it’s using the price pressures that are possible thanks to this vertical integration to limit the choices we have when it comes to health insurance.

It works like this: A vertically integrated health care and health insurance company will offer an insurance plan with coverage for both in-network and

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