Cigna’s (NYSE:CI) India business, Cigna TTK Health Insurance, a joint venture between U.S.-based global health services company, Cigna Corporation and Indian conglomerate TTK Group, has announced the appointment of Prasun Sikdar as its new MD and Chief Executive Officer following regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI). He succeeds Sandeep Patel, former MD and Chief Executive Officer, who will take over as Chief Strategy and JV Officer for Cigna and will serve as Director on the Cigna TTK Health Insurance Board.
Prasun will be responsible for building upon the company’s already strong position in India. He will continue to focus on delivering innovative products and services to the company’s growing customer base. With his deep experience in partnerships, he will also be working with the leadership team to further expand the company’s distribution channels, while enhancing the brand and creating long-term value for the organization and its customers.
Jason Sadler, President, International Markets, Cigna said: “We are delighted to have appointed Prasun as we continue to grow at a fast pace across India and deliver products and services to improve the health, well-being and sense of security of our customers. I am confident that his passion for innovation, as well as his rich and diverse experience, will add immense value and strengthen our market position in India.”
Prasun brings more than 22 years of leadership experience in financial services and deep insurance knowledge to Cigna TTK. Before joining Cigna TTK, Prasun was Group President and Global Head at Yes Bank, where he managed and grew key bancassurance and mutual fund alliances and partnerships. Prior to this he was a founding member and Senior General Manager – Chief Sales & Distribution at ICICI Prudential Life Insurance. During his 17 years with ICICI Prudential Life Insurance, he worked across several portfolios including Operations & Underwriting, Bancassurance, Agency, Alternate Distribution, Health Business and Sales Strategy. Before ICICI Prudential Life, he has been associated with GE Capital (SBI Cards) and Citicorp.
Cigna TTK is one the fastest growing health insurance companies in India and has created a niche in the health and wellness sector by offering its customers innovative products and services. Since commencing operations in 2014, the company has established a significant presence in the market and has fostered new partnerships with leading financial institutions. In 2018, Cigna TTK was recognized as the Best Health Insurance Company at the Indian Insurance Summit and was certified as a ‘Great Place to Work’.
Commenting on his appointment, Prasun said: “I am honoured to become part of the Cigna TTK family and am excited to have the opportunity to lead this respected organization. Health Insurance continues to be a fast-growing segment and I see tremendous opportunity for Cigna TTK to support access to health and wellness. I look forward to building a superior customer experience, delivering profitable growth for the organization and enabling the expansion of quality healthcare to millions of people in India.”