Aetna Inc. (A subsidiary of CVS Health), Cigna, and AIA Group Limited dominated the Indonesia Private Health Insurance Market in 2021

Indonesia Private Health Insurance Market is expected to grow with a CAGR of 1.9% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Indonesia private health insurance market is a highly consolidated market, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favorable market scenarios.

The major players dealing in Indonesia private health insurance market are introducing a wide range of products. This helped the companies to maximize the sales with enhance product portfolio.

For instance,

  • In December 2020, Aetna Inc. announced updates to its cover for communicable diseases, including COVID-19, all aimed at supporting the physical health of its members in an ever-evolving international landscape. This development helped the company to serve more customers and attract goodwill.
  • AIA Group Limited provided online sessions on mental health awareness for their customers. This has enabled the company to increase its customer base in Asia-Pacific region.

The development and promotion of new products in the exhibition result in the cooperation between different players in the market.

Aetna Inc. (A subsidiary of CVS Health)

Aetna Inc. (A subsidiary of CVS Health) is headquartered in Connecticut, U.S. as a public ownership and was founded in 1853. The company is engaged in providing products and services for individuals, employers, and health care professionals. It offers several product categories including individuals & families, employers, governments, brokers, and providers, under which individuals & families, and employers are focused product categories. The company has a wide presence in Europe, Asia-Pacific, the Middle East, and the U.S. In addition, the company has subsidiaries which are Active Health Management (U.S.), bswift (U.S.), Cofinity (U.S.), Meritain Health (U.S.), and Payflex (U.S.) among others.

Cigna

Cigna is headquartered in Connecticut, U.S. and it was founded in 1792 as a public ownership. The company is engaged in providing health insurance to improve health, well-being, and peace of mind. It offers a wide range of product categories including individuals and families, medicare, employers, brokers, and health care providers, out of which individuals and families, employers, and brokers are the market-focused categories. The company has presence in Asia-pacific, Europe, and the U.S. It has several subsidiaries which are Express Scripts (U.S.), Healthspring, Inc. (U.S.), CONNECTICUT GENERAL LIFE INSURANCE CO (U.S.), CIGNA HealthCare of North Carolina Inc (U.S.), CIGNA Behavioral Health (U.S.) and among others.

AIA Group Limited

AIA Group Limited is headquartered in Hong Kong as a public ownership and was founded in 1919. The company is engaged in providing financial needs along with a wide range of life and health protection and long-term savings products. It offers product categories including life insurance, medical insurance, accident protection, critical illness protection, disability protection, and savings, out of which medical insurance, and critical illness protection are market-focused products. The company has presence in Asia-Pacific. It has subsidiaries which are AIA Vitality (South Africa); AIA Philippines (Philippines); Tata AIA Life Insurance (India); AIA Public (Malaysia) among others.