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Cigna HealthCares subscribed premiums to increase 20% by end of 2003
Insurer not leaving Puerto Rico, is in process of automating services
BY TAINA ROSA
September 26, 2002
Raquel Mendez, Cigna HealthCares vice president of sales & marketing for the Caribbean, told CARIBBEAN BUSINESS that the insurance provider expects its written premiums to jump by 20% by the end of next year. "This is a trend dating back to 1998, when both our premiums and the number of our beneficiaries began growing at over 20% each year."
This is a terrific achievement, Mendez said, that shows the company has survived a number of problems, mainly rumors that it would leave Puerto Rico and 9/11, which had a terrible impact on the entire insurance industry.
"Our competitors began spreading a rumor not long ago that we were leaving the island, but we were not and are not leaving. We only transferred our claims department to Sherman, Texas, as part of a consolidation effort that took place throughout the entire company, not only here in Puerto Rico," she said. Now Cigna is in the midst of a technological enhancement process that will automate claims payments.
"Before the end of 2003, our health service providers will be able to submit their claims electronically," said Mendez. "Then the automated system will adjudicate the claims and draft the checks. We are also helping our network of providers obtain the necessary technology to be able to participate in this new system." This process, she added, has been in development since last year.
According to Mendez, Cigna HealthCare in Puerto Rico has more than 150,000 beneficiaries, mainly in the pharmaceutical, manufacturing, and banking industries, to which it offers group health plans. The local branch has a network of about 6,000 physicians and more than 50 hospitals, she said.
Raquel Mendez has been with Cigna HealthCare for almost 30 years and has been its vice president of sales & marketing for the Caribbean since 1998.
This Caribbean Business article appears courtesy of Casiano Communications.