Analyzing Cigna’s growth strategy: How the healthcare payer is expanding into virtual care, home health, and insurtech

With a market cap of nearly $80B, Cigna is one of the top 10 largest insurers globally. 

Its 3 core businesses — The Cigna Group, Cigna Healthcare, and Evernorth — cater to both payer and provider markets and provide coverage to 18M medical customers.

Cigna is betting big on technology to provide patients with more precise and personalized care experiences. It is looking at ways to use technology to conveniently deliver care, strengthen its insurance offerings, and do more with patient health data.

To achieve this, the health group has developed a network of relationships with tech companies as both a partner and an investor. For example, in January 2023, it invested in NOCD, after first partnering with the OCD-focused virtual care company in 2020 to bring its services to members.

Using CB Insights data, we uncovered 4 strategic priorities highlighted by Cigna’s recent acquisitions, investments, and partnerships. We then categorized companies by their business relationships with Cigna across these areas:

• Data & analytics
• Home health 
• Hybrid & virtual care 
• Insurtech

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