Singapore Private Health Insurance Market is expected to grow with the CAGR of 2.4% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.
Singapore private health insurance market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in Singapore Private Health Insurance market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.
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) is the dominating player in the market and the players are Cigna, AIA Group Limited, HCF, Allianz, Suncorp Group, HSBC Group, Tokio Marine, UniMed, Southern Cross, Accuro Health Insurance, partner’s life, among others.
Aetna Inc. (A Subsidiary of CVS Health)
Aetna Inc. (a subsidiary of CVS Health) is headquartered in Connecticut, U.S. as public ownership it was founded in 1853. The company is engaged in providing product and services for individuals, employers and health care professionals. The company have several product category which are individuals & families, employers, governments, brokers, providers under which individuals & families, employers are focused product category. The company has wide presence in Europe, Asia-Pacific, Middle-East, U.S. Company have subsidiaries which are Active Health Management (U.S.), bswift (U.S.), Cofinity (U.S.), Meritain Health (U.S.), Payflex (U.S.) among others.
Cigna is headquartered in Connecticut, U.S. as public ownership it was founded in 1792. The company is engaged in providing health insurance to improve the health, well-being, and peace of mind. The company have several product category which are Individuals and Families, Medicare, Employers, Brokers, Health Care Providers under which Individuals and Families, Employers, Brokers are focused product category. The company has wide presence in Asia-Pacific, Europe, U.S. The company have 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 headquartered in Hong Kong as public ownership and 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. The company have product which are life insurance, medical insurance, accident protection, critical illness protection, disability protection, savings out of which medical insurance, critical illness protection are market focused product. The company has wide presence in Asia-Pacific. The company have subsidiaries which are AIA Vitality (South Africa); AIA Philippines (Philippines); Tata AIA Life Insurance (India); AIA Public (Malaysia) among others.
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.
Singapore Private Health Insurance Market - Industry Trends and Forecast to 2029