Cigna technology cigna is an insurance company

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Cigna Tech

Cigna is an insurance company in america that has experienced its talk about of financial crisis due to the elevated government regulatory environment and competition from its competitors. Even though the company is a fourth largest insurer in america, it has confronted its reveal of financial troubles. In 2002 the company reported a $250 million dollar net loss pertaining to the year which in turn resulted in a 40% drop in collateral value. The company stock had not been the only thing getting hammered that year, the corporation was also under pressure by doctors who were suing the corporation due to later reimbursements.

The situation facing Cigna was a threefold dilemma. To start with, was the previously discussed lawsuit simply by doctors who have contended that Cigna was purposefully withholding and/or delaying payments pertaining to reimbursements and patient care. The doctors were not whatsoever happy with Cigna (and additional insurers) accusing the insurance businesses of deliberate misconduct regarding the payment of claims.

Second, Cigna’s revenue personnel experienced made many promises to clients about the implementation of recent technology that could vastly enhance customer service and accessibility to info. The need for this kind of technology was obvious not only to Cigna, but to its consumers as well. The modern EC program would not just provide improved customer service nevertheless would also supply clients with up dated information and tracking companies. The problem is that the product sales personnel acquired made guarantees that were if she is not kept. The machine had but to be created, and Cigna was pressurized to full the system’s implementation.

Last but not least were you’re able to send stock and financial woes. The company got posted disappointing earnings, large losses, excessive expenses and lower earnings. Cigna executives were desperately awaiting the implementation of the new technology since it promised effective cost reductions and related productivity benefits.

The Solution

To resolve Cigna’s technology problem an answer was suggested that required a two-pronged approach. Cigna wished to bring up to date and merge its Information Technology (IT) systems and in order to do so wished to produce a system that would allow for buyers to receive a single bill pertaining to medical solutions that was processed within a timely and efficient way. Claims can be processed in a more timely trend and consumers would be able to trail the claim from submission through payment. Customer support representatives will be capable of viewing the claims and