Joydeep Saha,MD & CEO of ManipalCigna Health Insurance
He has been associated with the company for over seven years, having previously served as appointed actuary and chief officer – Actuarial, Product, Reinsurance, Group Underwriting & Analytics
Mumbai: After almost 10 months of vacancy, ManipalCigna Health Insurance, a standalone health insurance company, today announced the appointment of its appointed actuary Joydeep Saha as new managing director & chief executive Officer, following regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI).
Saha was the acting CEO of the company after the earlier CEO Prasun Sikdar left the company to join as MD, CEO of Bima Sugam India Federation in Nov, 24.
He has been associated with the company for over seven years, having previously served as appointed actuary and chief officer – Actuarial, Product, Reinsurance, Group Underwriting & Analytics. With over two decades of experience in the Indian insurance industry, he has earlier worked with Niva Bupa Health Insurance, Religare Health Insurance and L&T General Insurance.
Joydeep holds a Master’s in Applied Statistics and Informatics from the Indian Institute of Technology, Bombay.
Jérôme Droesch, CEO International Organizations, Domestic Health and Health Services, Cigna Healthcare International Health, said, “Joydeep’s deep understanding of the organization and the broader health insurance means that he is well-equipped to lead the company into its next phase of strategic growth. We are confident that under his leadership, the organization will continue to strengthen its market position and deliver sustainable growth in a dynamic and evolving industry.”
“Joydeep’s appointment to the role of MD & CEO at ManipalCigna Health Insurance is a testament to his experience and commitment. His extensive tenure and comprehensive institutional knowledge make him perfectly positioned to lead the business into the future. I have every confidence he’ll succeed in this next chapter,” said S Vaitheeswaran, vice chairman, Manipal Education & Medical Group (MEMG).
Commenting on his appointment, Joydeep Saha said, “The health insurance industry is undergoing rapid transformation, and ManipalCigna is strongly positioned to lead this change. With the strong foundation and a talented team, I look forward to expanding our reach, leveraging technology to enhance customer experience and further strengthen our market leadership.”
ManipalCigna is headquartered out of Mumbai and has 100+ branch offices covering metros and towns. The company has built a multi-distribution network of over 70,000 agents and 500+ distribution partners across the country.
ManipalCigna also has presence in 400+ cities in India through its distribution network and has a network of over 15,000 hospitals across cities including tier I, tier II, and tier III towns in India.