Chapter-1

Introduction

Indian startup industry garners global attention and investment interest, its path to success is
fraught with challenges. The unorganized and fragmented nature of the Indian market,
coupled with unclear policy initiatives and inadequate infrastructure, presents formidable
hurdles. According to a report by Grant Thorton and ASSOCHAM (2016), the perception
persists that establishing an online presence through domain registration, website setup, and
social media engagement is complex, costly, and time-consuming.Moreover, the unstructured
market landscape poses significant barriers for startups aiming to thrive. The diverse and
ever-changing consumer behavior across different regions, with variations every 30-50
kilometers, complicates the formulation of effective business and marketing strategies.
Consequently, many startups find themselves trapped in a cycle of stagnation, ultimately
leading to closure. Despite these challenges, the Indian startup ecosystem continues to
evolve, driven by innovation, resilience, and a quest for solutions to navigate these obstacles
and emerge triumphant.

Definition and Meaning of Startup:

A startup is a newly established business venture, typically characterized by innovative ideas,

rapid growth potential, and a focus on scaling quickly. Startups often operate in technology or
other emerging industries and seek to disrupt existing markets with their products or services.

Characteristics of Startups:

1. Innovation: Startups often bring new ideas, products, or services to the market, disrupting
traditional industries with innovative solutions.

2. High Growth Potential: They aim for rapid growth and scalability, seeking to expand
their customer base, market share, and revenue quickly.

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3. Risk-taking: Startups are willing to take risks, both financially and creatively, to pursue
their goals and achieve success.

4. Flexibility: Startups are agile and adaptable, capable of quickly adjusting their strategies
and operations in response to market feedback and changing circumstances.

5. Entrepreneurial Spirit: Founders and employees of startups are typically driven by a

strong entrepreneurial spirit, motivated to solve problems and create value.

6. Limited Resources: Startups often operate with limited financial resources and
manpower, requiring them to be resourceful and efficient in their operations.

7. Focus on Customer Experience: Startups prioritize delivering exceptional customer

experiences to gain traction, build loyalty, and differentiate themselves from competitors.

8. Iterative Approach: Startups frequently iterate on their products or services based on user
feedback and data analytics, continuously improving and refining their offerings.

9. Culture of Innovation: Startups foster a culture of creativity, experimentation, and

continuous learning, encouraging employees to think outside the box and challenge the status
quo.

10. Potential for Disruption: Startups have the potential to disrupt existing industries and
business models, often by leveraging technology or introducing novel approaches to solving
problems.

Significance of startups

1.Innovation and Creativity: Startups drive innovation by introducing new ideas, products,
and services to the market. They often push boundaries and challenge established norms,
leading to advancements in technology, business models, and societal solutions.

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2. Job Creation: Startups are significant contributors to job creation, hiring employees and
stimulating economic growth. They provide opportunities for employment, particularly for
young professionals and those with specialized skills.

3. Economic Growth: Startups contribute to economic growth by generating wealth,

increasing productivity, and fostering competition. Their innovations and market disruptions
can lead to the creation of entirely new industries and markets, further fueling economic
expansion.

4. Entrepreneurship and Skills Development: Startups encourage entrepreneurship by

providing aspiring entrepreneurs with opportunities to pursue their ideas and build
businesses. They also foster skill development among employees, who often gain diverse
experiences and responsibilities in a dynamic startup environment.

5. Technological Advancement: Many startups focus on leveraging technology to address

various challenges and improve efficiency in different sectors. Their innovations drive
technological advancements, which can have far-reaching implications for industries and
society as a whole.

6. Diversity and Inclusion: Startups often have more diverse and inclusive work
environments compared to larger corporations. They may be more open to hiring individuals
from diverse backgrounds and promoting a culture of inclusion, leading to greater innovation
and creativity.

7. Global Competitiveness: Startups can enhance a country's global competitiveness by

fostering a vibrant entrepreneurial ecosystem. They attract talent, investment, and attention
from around the world, positioning their home countries as hubs of innovation and
entrepreneurship on the global stage.

8. Social Impact: Many startups are driven by a mission to create positive social or
environmental impact alongside financial returns. These social enterprises address pressing
societal challenges, such as healthcare access, education, environmental sustainability, and
poverty alleviation.

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Startup Ecosystem
The startup ecosystem encompasses various elements such as entrepreneurs, investors,
mentors, incubators, accelerators, government policies, universities, and support
organizations. It's a dynamic network that nurtures and supports the growth of startups by
providing resources, funding, mentorship, and networking opportunitie

The life cycle of startups

1. Idea Generation: This is the inception stage where founders come up with a business idea
or identify a problem they want to solve.

2. Validation: Founders test the feasibility of their idea, validate market demand, and assess
potential competition.

3. Launch: The startup officially enters the market, often with a minimum viable product
(MVP), to gather feedback and iterate based on user responses.

4. Growth: This stage involves scaling the business, acquiring customers, and expanding
operations. Startups may seek funding to support growth initiatives.

5. Maturity/Sustainability: If successful, the startup reaches a stage of maturity where it

stabilizes its operations, establishes a loyal customer base, and generates consistent revenue.

6. Exit/Transition: At this point, founders may choose to exit the business through
acquisition, merger, IPO, or other means. Alternatively, they may opt to continue running the
business for the long term.

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Startup funding

Startup funding plays a crucial role in enabling startups to execute their business plans,
achieve milestones, and ultimately drive growth and profitability. However, securing funding
can be competitive and challenging, requiring startups to demonstrate market potential,
scalability, and a strong
1. Bootstrapping: Using personal savings or revenue generated by the startup to fund its
operations and growth.

2. Friends and Family: Obtaining capital from friends, family members, or close
acquaintances who believe in the startup's potential.

3. Angel Investors: High-net-worth individuals who invest their personal funds in early-stage
startups in exchange for equity.

4. Venture Capital: Investment firms that provide capital to startups in exchange for equity.
Venture capitalists typically invest larger amounts of money in startups that have
demonstrated significant growth potential.

5. Crowdfunding: Raising funds from a large number of individuals through online

platforms such as Kickstarter or Indiegogo.

6. Accelerators and Incubators: Programs that provide startups with funding, mentorship,
and resources in exchange for equity.
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7. Corporate Venture Capital: Investment arms of established corporations that invest in
startups that align with their strategic goals.

8. Government Grants and Programs: Funding provided by government agencies to

support innovation and entrepreneurship in various industries.

Startup principles

Startup principles are guiding beliefs or philosophies that drive the actions and decisions of
startup founders and teams. These principles are often rooted in innovation, risk-taking, and
agility. Some common startup principles include:

1. Innovation: Startups strive to develop innovative solutions to address unmet needs or

solve existing problems in unique ways. They prioritize creativity and thinking outside the
box.

2. Agility: Startups emphasize the ability to quickly adapt to changing market conditions,
customer feedback, and internal challenges. They embrace flexibility and iteration in their
approach.

3. Customer-Centricity: Startups prioritize understanding and meeting the needs of their

customers. They gather feedback early and often, using it to iterate on their products or
services to better serve their target market.

4. Lean Principles: Startups often follow lean methodologies, which involve minimizing
waste and maximizing efficiency in all aspects of the business. This may include practices
such as building minimum viable products (MVPs), conducting rapid experimentation, and
focusing on validated learning.
5. Risk-Taking: Startups are willing to take calculated risks in pursuit of their goals. They
understand that failure is a natural part of the entrepreneurial journey and are not afraid to
experiment, pivot, or try new approaches.

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6. Bootstrapping: Many startups begin with limited resources and bootstrap their way to
success. This involves being resourceful, frugal, and scrappy, and often entails using personal
savings, revenue, or small investments to fund initial operations.

7. Founder Vision and Passion: Startups are often driven by the vision and passion of their
founders. Founders are deeply committed to their mission and are willing to persevere
through challenges and setbacks to achieve their goals.

8. Scaleability: Successful startups focus on building scalable business models that can grow
rapidly and sustainably. They aim to leverage technology, automation, and networks to
expand their reach and impact.

Issues and challenges of startups

1. Limited Resources: Startups often begin with constrained financial resources, making it
difficult to invest in essential areas like product development, marketing, and talent
acquisition.

2. Market Uncertainty: Startups operate in dynamic and unpredictable markets, where

factors like changing consumer preferences, economic conditions, and technological
advancements can create uncertainty.

3. Talent Acquisition: Recruiting and retaining skilled employees can be challenging for
startups, especially when competing against larger companies with more attractive
compensation packages and established reputations.

4. Product Development: Developing a successful product or service requires significant

time, effort, and resources. Startups must navigate the product development process,
including research, prototyping, testing, and iteration.

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5. Customer Acquisition: Acquiring and retaining customers is essential for startup growth,
but it can be challenging without a well-defined marketing strategy, limited brand
recognition, and resource constraints.
6. Competition: Startups often face intense competition from established companies, other
startups, and disruptive technologies. Competing in a crowded market requires startups to
differentiate themselves and find unique value propositions.

7.Regulatory Compliance: Startups must comply with various regulations and legal
requirements, which can be complex and time-consuming, especially in highly regulated
industries like healthcare and finance.

8. Cash Flow Management: Managing cash flow is critical for startup survival. Startups
must carefully monitor their expenses, revenue streams, and financing options to ensure they
have enough capital to cover operational costs and sustain growth.

9. Founder Challenges: Startup founders face numerous challenges, including managing

stress, making difficult decisions, balancing work-life priorities, and maintaining motivation
and resilience in the face of setbacks.

10. Scaling Operations: Scaling a startup's operations to meet increasing demand while
maintaining product quality and customer satisfaction requires careful planning and resource
allocation.

Addressing these challenges requires resilience, resourcefulness, and strategic decision-

making from startup founders and teams. While overcoming these obstacles can be difficult,
successful startups often emerge stronger and more resilient as a result.

Background of the study:

Absolutely, a thorough background study crucial for startups to establish a strong foundation
and increase their chances of success. It helps them identify market opportunities, understand
their target audience, differentiate themselves from competitors, and mitigate potential risks.
Additionally, conducting market validation ensures that the startup's products or services
align with customer needs, increasing the likelihood of achieving product-market fit.

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Moreover, a clear understanding of funding needs and risks allows startups to develop
effective strategies to secure financing and navigate challenges effectively. Overall, investing
time and effort in a comprehensive background study lays the groundwork for startups to
make informed decisions and pursue sustainable growth.

Background of the companines

1. Cigna Company
Cigna Corporation is a global health services company headquartered in the United States. It
offers various health insurance products and related services, such as medical, dental, vision,
disability, and life insurance. Additionally, Cigna provides health management and wellness
programs to improve the health and well-being of its customers. The company operates in
several countries and serves millions of individuals and businesses worldwide.

Details of the startup

● Started : 1982

● State : Philadelphia Pennsylvania,United States

● Sector : Health Care Insurance

● Ceo : David Cordani

● Tagline: This health company's tagline is simple yet encouraging, “Together, all the

way.”

● Cigna group:currently has around 70,000 employees, while covering over 30 markets

within various countries.

● Cigna saw USD 4.74 per share profit

● Cigna Group has made 10 investments, with the most recent being in 2023.

1. ACKO

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Acko General Insurance Ltd. is a digital insurance company based in India. It offers various
insurance products, including car insurance, bike insurance, health insurance, and more,
through its online platform. Acko aims to simplify the insurance process by leveraging
technology to provide convenient and transparent services to its customers. Acko has rapidly
grown to become a prominent player in the Indian insurance market, known for its customer-
centric approach and innovative offerings.

Details of the startup

● Started : 2016

● Head Quarteres : Bangalore,karnataka

● Founders : Varun Dua, Ruchi Deepak

● Sector : Insurance

● Acko has raised a total of $458 million in funding over the 8 funding rounds.

● Tagline of Acko is “Insurance Made Simple

2. LESICS
Lesics, we aim to provide quality engineering education. Our videos are designed to
clear misconceptions, create a passion for engineering and explain complicated
technologies in a simple way.
Details of the startup

● Started : 2012

● Head Quarters : Pune,Maharastra

● Founders : Sabin Mathew

● Sector : service and intersection of technology and education

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 Significance of the study

The significance of a startup study lies in its potential to provide valuable insights into
various aspects of entrepreneurship and innovation. Such a study can contribute to the
understanding of factors that influence the success or failure of startups, including
market dynamics, management strategies, funding sources, and regulatory
environments. Additionally, startup studies can inform policymakers, investors, and
aspiring entrepreneurs about best practices, potential challenges, and emerging trends
in the startup ecosystem, ultimately facilitating informed decision-making and
fostering the growth of sustainable and innovative businesses.

Need of the study

study lies in gaining insights into various aspects crucial for the success and sustainability of
the venture. It helps in understanding market dynamics, identifying opportunities, mitigating
risks, formulating effective strategies, optimizing resources, attracting investors, and ensuring
long-term viability. By conducting a comprehensive study, startups can make informed
decisions, adapt to changing environments, and increase their chances of achieving their
objectives.
Scope of the study
It analysis typically includes market analysis, competitor analysis, financial analysis, business
model evaluation, SWOT analysis, and assessment of the startup's team and resources. It also
involves examining industry trends, regulatory environment, target audience, and potential
risks and challenges. Additionally, it may delve into specific areas based on the startup's
industry, goals, and unique circumstance

Objectives of the study

1.To study and understand the backgrounds of cigna,acko,lesics
2. To analyse the strengths, weaknesses, opportunities, and threats (SWOT analysis) of the
cigna,acko,lesics companies.
3. To evaluate the business models of cigna,acko,lesics companies
4. To examine the financial performance of cigna,accko,lesics, considering factors such as
revenue, profitability, and other key financial indicators.

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5. To identify the key findings related to the cigna,acko,lesics, summarising crucial insights
derived from the study.
Methodology of the study
Primary data
Primary data refers to information that is collected firsthand by the researcher specifically for
the purpose of the study. This data is original and directly obtained from sources such as
surveys, interviews, observations, or experiments.
Secondary data
secondary data refers to information that has already been collected by someone else for a
different purpose. This data is obtained from sources such as books, journals, government
publications, databases, or websites. Researchers analyze and interpret secondary data to
derive insights relevant to their own research objectives.

CHAPTER 2

Profile of the selected companies CIGNA , ACKO, LESICS

● About the Industry Company
● Founders & Team
● Start-Up story
● Name & Logo
● Vision & Mission
● Products/Services

Cigna about
A global health company, leading in over 30 countries has won the trust of more than 190
million customers. The company offers Medicare as well as Medicaid products along with its
well-reliant insurance coverages.
Cigna Group aims at improving the vitality as well as the health of its customers and patients.
The health company stands tall in this sector as it works under diverse capabilities with its
two available divisions, Cigna HealthcareSM and Evernorth Health Services®.
Even during the rising cost of the health market, Cigna Group provides its clients and
customers access to a range of care related to health, and life that too with personalized

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support aimed at each individual. As of the ranking on the Fortune 500 list, Cigna ranked 15
in the year 2023 amongst the list of largest U.S corporations by total revenue.
Cigna - Industry
Speaking of the industry that is targeted by the Cigna Group, health and medical insurance, it
is the largest in the US. The same is booming around the globe, as an analysis of Data Bridge
Market Research suggests that the health insurance market which was at USD 1,855.30
billion in the year 2022, the same is expected to reach USD 2,658.69 billion by the year 2030
with a CAGR of 4.6%.
Looking at the geographical distribution of the health insurance market, the North American
region is the highest buyer of health insurance, followed by Europe. These areas are expected
to have growth in the said industry in the coming years. This is assured due to the high
demand for health insurance in the corporate sector.
Next in line is the Asia-Pacific region, which is again expected to grow by 2030. A few
companies that are thriving in the aforementioned regions are Bupa (UK), Now Health
International (China), and of course Cigna (USA).

Cigna – Team
At present David Cordani is the president and CEO of Cigna, who took the chair in 2009,
while Brian Evanko is the current Chief Financial Officer.

David Cordani - President and CEO, The Cigna Group

David Cordani looks after the 70,000 colleagues while leading the health insurance company.
In the year 2020, David also oversaw Cigna’s launch of Evernorth, which is their recent
brand for high-performing health services portfolio.

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With all of that amazing journey and experience, David is even known to be the co-author of
‘The Courage to Go Forward.’ He is a triathlete, who has experience of over 125 triathlons
and has won a few too.

Amongst his other interests and great roles, David has also been a part of the Achilles
International Freedom Team of Wounded Veterans and ChildObesity180, as a charter board
member.

Brian Evanko

Brian Evanko - CFO and Chief Actuary, The Cigna Group

The alumnus of Penn State University, Brian Evanko looks after all the global financial
functions that take place across Cigna. He has experienced an astounding journey while
working with Cigna since he became the Actuarial Director in the year 2003. In the August
of 2009, Brian became the CFO & Chief Actuary. This is when he spent his 2 years
managing the functions in Singapore and then spent a year in Hong Kong managing all
financial global leads.
Cigna Company Start up Story
It was the year 1982 when Cigna was formed. The whole idea that is ruling over the health
insurance industry today, came to life through the merger of the Connecticut General Life
Insurance Company (CG) and INA Corporation. INA is the parent company of the first ever
stock insurance company in America the ‘Insurance Company of North America.’While
spelling out the name ‘Cigna’ it represents the combination of the initial words of the two
merged companies which are CG and INA. Looking further and turning the pages in its
history, the Connecticut General Life Insurance Company (CG) was formed in 1865, while
the Insurance Company of North America was formed in 1792.
Details of Startup Cigna Company

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⮚ Cigna Corporation is a global health service company headquartered in Bloomfield,
Connecticut, United States. Here are some details about Cigna:

⮚ Overview: Cigna provides a range of health insurance products and related services

including medical, dental, behavioral health, pharmacy, vision, supplemental benefits,

and other related products. They offer these services to individuals, employers,
governmental units, and other organizations.

⮚ History: Cigna traces its roots back to the founding of the Insurance Company of

North America (INA) in 1792. Over the years, it went through various mergers,
acquisitions, and name changes before becoming Cigna Corporation in 1982.

⮚ Operations: Cigna operates globally, serving customers in countries all around the

world. It has a significant presence in the United States as well as in markets across
Europe, Asia, and the Middle East.

⮚ Products and Services: Cigna offers a wide range of health insurance products and

services, including medical, dental, vision, pharmacy, behavioral health, disability,

and life insurance. They also provide wellness programs, health coaching, and other
resources to help individuals manage their health and well-being.

⮚ Customer Base: Cigna serves millions of customers worldwide, including

individuals, employers of all sizes, governmental entities, and other organizations.

⮚ Corporate Social Responsibility: Cigna is committed to corporate social

responsibility and sustainability. They have initiatives focused on environmental

sustainability, community engagement, and promoting health equity and access to
care.

⮚ Technology and Innovation: Like many companies in the healthcare industry, Cigna

invests in technology and innovation to improve the customer experience, enhance

healthcare outcomes, and streamline operations. This includes initiatives related to
telehealth, digital health tools, data analytics, and artificial intelligence.

⮚ Financial Performance: Cigna is a publicly-traded company listed on the New York

Stock Exchange (NYSE) under the ticker symbol "CI". Its financial performance is
subject to the fluctuations of the healthcare industry and broader economic factors.

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 ⮚ Leadership: The company is led by a team of executives who oversee its strategic

direction, operations, and financial performance. This includes a CEO, CFO, and
other key leadership positions.

⮚ Regulatory Environment: As a healthcare company, Cigna operates within a highly

regulated industry and must comply with various laws and regulations governing
health insurance, privacy, and other aspects of its business.

Details of the startup :

● Started : 1982

● State : Philadelphia Pennsylvania,United States

● Sector : Health Care Insurance

● Ceo : David Cordani

● Tagline: This health company's tagline is simple yet encouraging, “Together, all the

way.”

● Cigna group:currently has around 70,000 employees, while covering over 30 markets

within various countries.

● Cigna saw USD 4.74 per share profit

● Cigna Group has made 10 investments, with the most recent being in 2023.

Cigna - Name and Tagline

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The Cigna Group – Tagline
Tagline: This health company's tagline is simple yet encouraging, “Together, all the
way.”

Vision & Mission

vision and mission of cigna Company reflect its commitment to
transforming the way services are delivered and experienced by customers Here is
breakdown of their vision and mission:
Vision:
While talking about the vision, Cigna aims future that is built on the vitality of each
individual belonging to every community to have a better.
Mission:
As per the company’s website, Cigna is focused on improving the health and vitality of those
they serve. They are making great efforts to strengthen as a company while working toward
their goal and at the same time they are evolving their capabilities focusing on innovation and
new schemes

Services offered by Cigna Company

Certainly! Here's a list of services and products offered by Cigna:
1. Health Insurance Plans:
- Individual and Family Plans
- Employer-Sponsored Plans
- International Health Insurance
2. Dental Insurance:
- Individual and Family Dental Plans
- Dental Savings Plans
- Employer-Sponsored Dental Plans
3. Vision Insurance:
- Vision Plans for Individuals and Families
- Vision Plans for Employers
4. Medicare Plans:
- Medicare Advantage Plans

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 - Medicare Supplement Plans (Medigap)
- Medicare Prescription Drug Plans (Part D)
5. Pharmacy Benefits Management:
- Prescription Drug Plans
- Home Delivery Pharmacy Services
- Specialty Pharmacy Services
6. Behavioral Health Services:
- Mental Health Coverage
- Substance Abuse Treatment
- Employee Assistance Programs (EAPs)
7. Wellness Programs:
- Health Coaching
- Chronic Condition Management
- Preventive Care Services
8. Health Advocacy:
- Assistance with Healthcare Navigation
- Support for Medical Decision Making
- Help with Understanding Health Benefits

9. Telehealth Services:
- Virtual Doctor Visits
- Online Consultations with Healthcare Providers
- Teletherapy for Mental Health Support
10. Other Services:
- Health Savings Accounts (HSAs)
- Flexible Spending Accounts (FSAs)
- Health Reimbursement Arrangements (HRAs)
- Medical Management Services
- Health and Wellness Resources and Tools

Cigna - Growth

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 Recently at the end of 2023, Cigna Group reported a profit of USD 1.4 billion in its third
quarter. This growth was achieved through its Evernorth health services as well as with the
help of Cigna’s health insurance plans. Let's take a look at the details of this growth:

● Cigna saw USD 4.74 per share profit

● The previous year's profit was at USD 2.75 with a big boost from the sale of life, accident as
well as supplemental benefits business to Chubb.

● Third-quarter revenue increased by 8%

Cigna - Future Plans

Last year, the Cigna health group announced its plan for 2024, which is to offer affordable,
comprehensive health care plans in the ACA Marketplace across 14 states in the USA in
2024. The said plan would even include 15 counties in North Carolina and will even cover
counties in regions of Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Mississippi, and
more.

2 . Acko - About
Acko General Insurance is a private general insurance company operating in India. The
company has received its license from the Insurance Regulatory and Development Authority
of India (IRDA) in September 2017. Acko boasts of an online model of insurance, with the
help of which it offers its customers premium insurance facilities and bite-sized insurance
products with zero commissions. All the operations of the company take place through its
digital platform, thereby removing the need for any paperwork.
Acko - Industry
The International Trade Administration's estimate indicates that India's insurance market is
expected to grow at a quick pace and reach a valuation of $280 billion by 2025. This
significant increase is propelled by an impressive compound annual growth rate (CAGR)
ranging from 12% to 15%.
The population's increased knowledge of the importance of insurance and the concurrent rise
in disposable incomes are the main causes of this amazing expansion. The aforementioned
characteristics indicate a growing market trend in the insurance industry that is consistent
with the changing economic condition

Acko - Founders and Team

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Varun Dua, Founder and CEO, and Ruchi Deepak, Founder and Board Member founded
Acko in 2016.

Varun Dua
Varun Dua is the CEO and the founder of the company, Acko. He completed his education at
MICA, Ahmedabad, and the University of Mumbai. After finishing his graduation, Varun
served as a trainee at Leo Burnett Advertising for less than a year. He then started his career
as a marketing manager at Tata AIG Life Insurance and Franklin Templeton Investments.
Varun then founded Coverfox Insurance Broking Pvt. Ltd. Before he founded Coverfox in
2013, Varun founded and Glitterbug Technologies. Varun Dua holds a prominent role as one
of the Sharks on Season 3 of Shark Tank, adding his expertise and insights to the
entrepreneurial landscape
.
Ruchi Deepak

Ruchi Deepak, a distinguished entrepreneur, serves as both the founder and Board Member of
Acko, a pioneering platform in the insurance industry. After completing her studies at Lady
Shri Ram College for Women, she set off on a voyage that went beyond the classroom. Her
subsequent appointment as a board member at Pitstop further demonstrated her wide range of
experience and allowed her to share her perspectives on convenience and car maintenance.
She also founded Airloom where she is serving as the founder and CEO, this demonstrates
her dedication to leadership and innovation.
Acko Start up story

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Acko was founded by Varun Dua and Ruchi Deepak in 2016 as the first digital insurance
service provider in India. Varun and Ruchi identified two major problems in the insurance
industry before starting Acko. They saw how difficult and opaque the procedures were,
especially when it came to simple things like auto insurance. They also understood the
complexities involved in determining insurance premiums and sought to develop a pricing
strategy that would be more accommodating to customers.
"We saw a huge opportunity that a digitally empowered insurance company could unlock
both in terms of customer experience and enterprise value. My co-founder Varun Dua and I
decided to pursue it,” added Ruchi. The Indian insurtech market, which was formerly
dominated by multi-insurance companies, underwent a change in 2018 as general insurance
received more money and attention. Seizing this opportunity, Varun and Ruchi established
Acko and positioned it as a force for disruption. Acko joined the market with the goal of
revolutionizing the insurance sector and providing a more open and approachable insurance
experience by streamlining insurance procedures and pricing.
Details of Startup Acko Company
Acko is an Indian digital insurance startup that was founded in 2016 by Varun Dua and Ruchi
Deepak. The company offers a range of insurance products, including car insurance, bike
insurance, health insurance, and travel insurance, among others, through its online platform.
Here are some key details about Acko:

⮚ Founders: Varun Dua and Ruchi Deepak are the co-founders of Acko. Varun Dua

has a background in finance and was previously associated with companies like
McKinsey & Company and Coverfox, while Ruchi Deepak has experience in e-
commerce and was formerly associated with companies like Flipkart.

⮚ Digital-First Approach: Acko is known for its digital-first approach to insurance,

offering policies and services primarily through its website and mobile app. This
approach allows for streamlined processes, quicker claims processing, and better
customer experiences.

⮚ Technology Integration: Acko leverages technology extensively in its operations,

including data analytics, machine learning, and AI, to enhance various aspects of
insurance, such as risk assessment, underwriting, and claims management.

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 ⮚ Funding: Acko has received significant funding from various investors. In 2017, the

company raised $30 million in a Series A funding round led by SAIF Partners and
Accel Partners. It has also raised funds from investors such as Amazon, which
participated in a $12 million funding round in 2018.

⮚ Partnerships: Acko has formed strategic partnerships with several companies to

expand its reach and offerings. For example, it has tie-ups with e-commerce platforms
like Amazon and Ola for providing insurance to their customers.

⮚ Expansion: Since its inception, Acko has been focused on expanding its presence in

the Indian insurance market. It has steadily increased its product portfolio and
customer base while also exploring opportunities for growth in new segments.

⮚ Recognition: Acko has garnered attention in the Indian startup ecosystem and has

been recognized for its innovative approach to insurance. It has won several awards
and accolades for its technology-driven solutions and customer-centric approach

Details of the company

● Started : 2016

● Head Quarteres : Bangalore,karnataka

● Founders : Varun Dua, Ruchi Deepak

● Sector : Insurance

● Acko has raised a total of $458 million in funding over the 8 funding rounds.

● Tagline of Acko is “Insurance Made Simple

Acko - Name and Logo

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Acko General Insurance is under the umbrella of its parent organization, Acko Technology &
Services Private Limited.

Vision & Mission

Vision
The vision of the company is to deliver outstanding value to its customers
Mission
The mission on the company's website states, "To always prioritise you in everything we do."
Acko - Products and Services
Acko General Insurance provides exclusive Acko mobile insurance, Acko car insurance,
Acko bike insurance, Acko Group Health insurance, and more. Let's check out some of these
insurances and how they work:
Acko Car Insurance - Acko car insurance policy offers coverage for numerous care-related
risks. Opting for a car insurance from Acko help the users get financial assistance in case
their own car faces damage.
Acko Bike Insurance - The Acko Bike Insurance plan offers extensive coverage for two-
wheelers, protecting against damages, total loss, and theft. With Acko Bike Insurance, one
can get a comprehensive policy that ensures financial security in various scenarios, providing
peace of mind and a secure riding experience.
Acko Health Insurance - Acko Health Insurance offers comprehensive coverage for medical
expenses, ensuring financial protection and access to quality healthcare. Tailored for
individual well-being, Acko's plans provide a reliable safety net for unexpected health
challenges.
Acko Life Insurance: When it comes to life insurance, Acko offers a convenient online option
that allows you to purchase coverage directly from your mobile phone. This eliminates the
need for physical meetings and offers various plan options, including Term Life Insurance,
Whole Life Insurance, and Endowment Plans. Acko's online approach ensures a hassle-free
experience, providing flexibility and ease in choosing the right coverage for your needs.

23
 Acko Travel Insurance: Acko Travel Insurance offers comprehensive coverage for risks and
financial losses during your travels. Acko's travel insurance offers a safety net in case of
flight delays, cancellations, misplaced bags, or medical crises. With the policy's flexibility to
accommodate both single and numerous journeys, customers can explore the world with
confidence, knowing that unforeseen expenses will be taken care of. With Acko's dependable
and adaptable travel insurance options, customers can travel with confidence.

Acko Products

Acko - Growth

The digital insurance firm Acko is still growing at a very impressive rate as of January 2024,
and some significant growth highlights its standing in the market:

● Over 2.8 crore customers are served by Acko's insurance services, demonstrating the
company's broad client base's trust.

24
● Acko's ability to provide a wide range of insurance solutions to its clientele is demonstrated
by the issuance of over 8 crore policies.

● Acko consistently maintains an exceptional 94.54% claim settlement ratio, demonstrating its
dedication to prompt and equitable resolutions and fostering trust among policyholders.

● Acko is known for its efficiency and sets industry standards. As of January 2024, they settled
claims in just 12 minutes, which is evidence of their responsive and efficient processes.

Financials Graph

Acko Future Plans

According to a January 30, 2024, news story, Acko, has set a strategic goal of becoming
profitable by the 2026–2027 fiscal year (FY27). The positive earnings from its health and
general insurance businesses are expected to propel the company into profitability. Founder
and CEO Varun Dua disclosed the company's lofty goals in an interview with UBS Global.
Varun Dua claims that Acko wants to reach a premium of Rs 2,000 crore by the end of FY24,
the fiscal year 2023–2024. Furthermore, the organization expresses confidence in maintaining
a strong growth rate of 35% annually, signifying a dedication to ongoing expansion and
advancement within the insurance industry.

3. Lesics
Lesics Engineers Pvt Ltd provides quality online education to engineering students and
professionals. It systematically teaches the concepts of engineering and also equips them with
capabilities to meet the challenges in the industry.
Lesics - Industry
The founder of Lesics expresses the current reach of over 10 million people per month
through the company's YouTube channel. Looking ahead, there is a vision to expand Lesics'
presence on social media platforms such as LinkedIn and Instagram, aiming for a reach of 25

25
million people monthly within the next 5 years. Additionally, Lesics recently introduced its
first robotics course, marking an entry into the field. In the paid course segment, the plan is to
launch more than 20 courses covering robotics, automation, and embedded system
development. The founder hopes to impact the lives of over 5000 engineers and students
annually by leveraging Lesics' previous growth data and traffic conversion rates to the course
website.
Lesics - Founders and Team

Lesics Founder

Details of the startup

● Started : 2012

● Head Quarters : Pune,Maharastra

● Founders : Sabin Mathew

● Sector : service and intersection of technology and education

Lesics Startup Story

Sabin Mathew got the idea of the Lesics YouTube channel 10 years back when Mathew
realized that a lot of bad-quality engineering videos were generating millions of views
on YouTube.
Lesics - Vision and Mission

26
Lesics wants to transform engineering education globally. It will focus on logical and
conceptual engineering with more emphasis on live projects, which is the need of the hour for
the rapidly expanding engineering job market.

Lesics – Logo

Chapter -3

Introduction to SWOT Analysis

SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses,
Opportunities, and Threats involved in a business venture, project, or in any situation
requiring strategic planning. It involves identifying the internal and external factors that are
favorable and unfavorable to achieving a particular objective.
The acronym SWOT stands for

● Strengths: Internal factors that give an organization an advantage over others.

● Weaknesses: Internal factors that place the organization at a disadvantage relative to

others.

● Opportunities: External factors that the organization could exploit to its advantage.

● Threats: External factors which could potentially cause trouble for the organization.

Conducting a SWOT analysis helps organizations identify both the positive and
negative factors that may influence their ability to achieve objectives. By

27
 understanding these factors, organizations can leverage their strengths, address
weaknesses, capitalize on opportunities, and mitigate threats effectively.
In this analysis, we will explore how SWOT analysis can be applied in various
contexts to make informed decisions and formulate strategic plans.
1.Cigna
Strengths:
1.Global Presence: Cigna operates in multiple countries, providing a broad reach and
access to diverse markets.
2.Strong Brand Image: Cigna is recognized for its reliability and customer-centric
healthcare solutions, enhancing brand trust.
3.Diverse Product Portfolio: Offers a range of health insurance plans, wellness programs,
and related services catering to various customer needs.
Weaknesses:
1.Dependence on US Market: A significant portion of Cigna's revenue is derived from the
United States, making it vulnerable to changes in the U S healthcare policies and market
conditions.
2.Integration Challenges: Following mergers and acquisitions (e.g., Express Scripts
acquisition), integration complexities may impact operational synergies.
3.Regulatory Compliance: Subject to stringent healthcare regulations in various
jurisdictions, which could affect flexibility and innovation.
Opportunities:
1.Expansion into Emerging Markets: Growing healthcare needs in emerging economies
present opportunities for market expansion and growth.
2.Rising Healthcare Costs: Increasing demand for cost-effective healthcare solutions and
services offers opportunities for innovation in healthcare delivery.
3.Telehealth and Digital Health: Growing acceptance and adoption of telehealth services
provide avenues for expanding service offerings and improving customer engagement.
Threats:
1. Competitive Market: Intense competition from other health insurers, healthcare
providers, and new entrants poses a threat to market share and profitability.
2. Healthcare Reforms: Changes in healthcare policies and regulations, particularly in
the US, could impact reimbursement rates and operational costs.

28
 3. Economic Uncertainty: Economic downturns and fluctuations in healthcare spending
could affect demand for health insurance and related services.
2.ACKO:
Strengths:
1. Digital-first Approach: Acko leverages technology extensively to streamline
processes, enhance customer experience, and reduce operational costs.
2. Innovative Insurance Products: Offers innovative and customized insurance
products catering to diverse customer needs, such as micro-insurance and bite-sized
policies.
3. Strong Investor Backing: Backed by prominent investors and venture capital firms,
providing financial stability and support for growth initiatives.
Weaknesses:
1. Brand Awareness: Compared to traditional insurers, Acko may have lower brand
recognition, which could affect customer trust and acquisition.
.
Opportunities:
1. Growing Insurance Market in India: Rapidly expanding insurance penetration in
India presents opportunities for Acko to capture market share, especially among
digitally-savvy millennials.
Threats:
1. Intense Competition: Facing competition from both traditional insurers with
established market presence and emerging digital insurance startups.
2. Cybersecurity Risks: As a digital-first company, Acko needs robust cybersecurity
measures to protect customer data and ensure trust.
3. Economic Volatility: Economic downturns or fluctuations in financial markets could
impact consumer spending on insurance products and overall business operations.
3.LESICS:
Strengths:
1. Innovative Technology Solutions: Lesics offers cutting-edge software solutions that
differentiate it from competitors.
Agile Development: Agile methodologies enable quick adaptation to market changes and
customer feedback.

29
 Weaknesses:
1. Dependency on Key Personnel: Reliance on a few key individuals for critical tasks
could pose a risk to operations.
Opportunities:
Growing Demand for Software Solutions: Increasing reliance on digital transformation
across industries presents opportunities for software providers like Lesics.

Chapter-4
1.CIGNA

Business model

Cigna is a global health services company headquartered in Bloomfield, Connecticut, USA.

Here is the business model of Cigna:

● Health Insurance Products: Cigna offers a variety of health insurance plans tailored

for individuals, families, employers, and governmental organizations. These

include medical plans, dental insurance, vision coverage, Medicare Advantage plans,
and Medicaid plans.

● Global Health Services: Cigna operates globally, providing health insurance and

related services to expatriates, globally mobile individuals, and multinational

employers. This international segment caters to diverse healthcare needs across
different countries.

● Integrated Healthcare Solutions: Cigna focuses on integrating healthcare delivery

and financing to improve health outcomes and lower costs. This involves
collaborating with healthcare providers to offer coordinated care and wellness
programs.

30
 ● Digital Health and Innovation: Emphasizing technological advancements, Cigna

invests in digital health solutions to enhance customer experience, improve access to

care, and streamline administrative processes.

● Employer Solutions: Cigna provides employer-sponsored health insurance plans and

wellness programs aimed at promoting employee health and productivity. This

includes services such as behavioral health support and disability management.
Revenue model
Cigna generates revenue primarily through several key streams within its health services
business model:
1. Health Insurance Premiums: The largest source of revenue for Cigna comes from
premiums paid by individuals, employers, and government entities for health
insurance coverage. This includes premiums from individual and family plans,
employer-sponsored plans, Medicare Advantage plans, and Medicaid managed care
contracts.
2. Administrative Fees: Cigna earns revenue through administrative fees charged for
managing employer-sponsored health plans and government contracts. These fees
cover services such as claims processing, customer service, and network management.
3. Pharmacy Benefits Management (PBM): Cigna operates a pharmacy benefits
management business (Express Scripts) that generates revenue from managing
prescription drug benefits for health plan sponsors, including employers, health
insurers, and government entities. Revenue in this segment comes from fees based on
drug sales, rebates from pharmaceutical manufacturers, and administrative charges.
4. Health Services: Cigna offers various health services, such as wellness programs,
disease management, and behavioral health services. Revenue is generated through
fees for these services, which aim to improve health outcomes and reduce overall
healthcare costs.
5. International Markets: Cigna earns revenue from its international operations, which
provide health insurance products and related services to expatriates, globally mobile
individuals, and multinational employers. This includes premiums and fees for health
coverage in international markets.
Organizational performance

31
Cigna Corporation is a global health service company that has developed a robust framework
for measuring and enhancing its organizational performance. This performance framework is
built on several key components that align with its strategic goals and mission to improve the
health, well-being, and peace of mind of those it serves. Here's an overview of Cigna's
approach to organizational performance:

1. Key Performance Indicators (KPIs)

Financial Performance

● Revenue Growth: Cigna tracks its annual revenue growth to ensure sustainable
financial performance.

● Profit Margins: Monitoring profit margins helps Cigna maintain profitability while
managing costs.

● Earnings per Share (EPS): EPS is a critical metric for shareholder value.

Customer Satisfaction

● Net Promoter Score (NPS): Cigna uses NPS to measure customer loyalty and
satisfaction.

● Customer Retention Rate: This KPI helps Cigna track the percentage of customers
who continue using their services over time.

● Customer Satisfaction Index (CSI): CSI measures overall customer satisfaction

with Cigna’s services.

Operational Efficiency

● Claims Processing Time: Speed and accuracy of processing insurance claims.

● Cost Management: Efficiency in managing operational costs, including

administrative expenses.

● Service Delivery Metrics: Timeliness and effectiveness of health services delivery.

Employee Engagement

32
 ● Employee Satisfaction Score: Regular surveys measure employee satisfaction and
engagement.

● Turnover Rate: Tracking the rate of employee turnover to manage retention.

● Training and Development: Metrics on the participation and effectiveness of

employee development programs.

Innovation and Growth

● New Product Launches: Number of new health plans and services introduced.

● R&D Investment: Investment in research and development to drive innovation.

● Market Expansion: Growth in new markets and segments.

2. Performance Measurement and Reporting

Balanced Scorecard

Cigna employs a balanced scorecard approach to ensure a comprehensive view of

performance across financial, customer, internal processes, and learning and growth
perspectives.

Performance Dashboards

Real-time dashboards are used for continuous monitoring of KPIs. These dashboards provide
actionable insights to managers and executives.

3. Performance Evaluation

Regular Reviews

Cigna conducts regular performance reviews, including quarterly and annual evaluations, to
assess progress towards strategic goals.

Benchmarking

33
Performance is benchmarked against industry standards and competitors to identify areas for
improvement.

Data-Driven Analysis

Advanced analytics are used to interpret performance data and identify trends, enabling
proactive decision-making.

4. Continuous Improvement

Lean Six Sigma

Cigna utilizes Lean Six Sigma methodologies to improve process efficiency and reduce
waste.

Kaizen

A culture of continuous improvement is fostered through Kaizen, encouraging small,

incremental changes.

5. Employee Performance Management

Goal Setting and Alignment

Employees’ goals are aligned with organizational objectives to ensure everyone is working
towards the same strategic priorities.

Feedback and Development

Continuous feedback and personalized development plans help employees grow and improve
their performance.

2.ACKO

Business model

ACKO General Insurance is a digital-first insurance company in India that operates primarily
through a direct-to-consumer model. Founded in 2016, ACKO leverages technology to offer

34
a range of insurance products, emphasizing simplicity, affordability, and customer-centricity.
Here’s a detailed look at ACKO's business model:

1. Value Proposition

● Affordable Insurance: Offers low-cost insurance products by minimizing

operational expenses through digital platforms.

● Convenient and Hassle-Free: Simplifies the insurance buying process with an easy-
to-use online platform and quick claim settlements.

● Customer-Centric Services: Focuses on delivering exceptional customer experience

with 24/7 customer support and transparent policies.

2. Key Products and Services

Car Insurance

● Comprehensive Car Insurance: Covers damage to the car, theft, and third-party
liabilities.

● Third-Party Car Insurance: Mandatory insurance covering damage to third parties.

● Customizable Add-Ons: Includes options like zero depreciation, roadside assistance,

and engine protection.

Bike Insurance

● Comprehensive Bike Insurance: Protects against damage to the bike, theft, and
third-party liabilities.

● Third-Party Bike Insurance: Covers damage to third parties.

● Add-Ons: Includes zero depreciation, personal accident cover, and more.

Health Insurance

35
 ● Individual Health Insurance: Covers hospitalization expenses, pre-existing diseases,
and more.

● Family Health Insurance: Comprehensive cover for the entire family.

● COVID-19 Insurance: Specific plans to cover COVID-19 treatment expenses.

Mobile and Gadget Insurance

● Mobile Insurance: Covers accidental damage, theft, and breakdowns.

● Gadget Insurance: Covers various gadgets like laptops, tablets, and more against
damage and theft.

Travel Insurance

● Domestic and International Travel Insurance: Covers medical emergencies, trip

cancellations, lost baggage, and more.

3. Distribution Channels

● Direct Online Sales: Primary channel through its website and mobile app.

● Partnerships: Collaborates with various digital platforms, e-commerce sites, and

financial services providers to offer insurance products.

● Embedded Insurance: Integrates insurance offerings with partner platforms, such as

Amazon and Ola, providing seamless purchase experiences.

4. Revenue Model

● Premium Collection: Revenue is generated primarily through the collection of

insurance premiums.

● Investment Income: Income from investing the premium reserves in various

financial instruments.

● Fee-Based Income: Additional income from value-added services and partnerships.

36
5. Cost Structure

● Technology and Development: Significant investment in technology infrastructure

and app development.

● Customer Acquisition: Marketing and promotional expenses to acquire and retain

customers.

● Claims Processing: Costs related to processing and settling insurance claims.

● Operational Expenses: General administrative and operational costs, including

employee salaries.

Revenue model

ACKO General Insurance's revenue model is multifaceted, leveraging various streams to

ensure profitability and sustainability. Here's a detailed breakdown:

1. Premium Collection

The primary source of revenue for ACKO comes from the collection of insurance premiums.
This includes premiums from various insurance products such as:

● Car Insurance: Comprehensive and third-party insurance policies.

● Bike Insurance: Comprehensive and third-party insurance policies.

● Health Insurance: Individual and family health plans.

● Mobile and Gadget Insurance: Coverage for mobile phones and other electronic
gadgets.

● Travel Insurance: Domestic and international travel insurance policies.

2. Investment Income

ACKO invests the premium reserves in a diversified portfolio of financial instruments. The
returns on these investments contribute significantly to the company’s revenue. The typical
investment avenues include:

37
 ● Government Securities: Safe and stable returns from government bonds and
securities.

● Corporate Bonds: Investments in corporate bonds for higher returns.

● Equities: Investments in stock markets to capitalize on growth opportunities.

● Money Market Instruments: Short-term investments for liquidity management.

3. Fee-Based Income

ACKO generates additional revenue through various fee-based services and value-added
products. This includes:

● Add-Ons and Riders: Optional coverages such as zero depreciation, roadside

assistance, and personal accident covers, which come at an additional cost.

● Service Fees: Fees charged for administrative services, policy customizations, and
faster processing.

4. Embedded Insurance Partnerships

ACKO collaborates with digital platforms, e-commerce sites, and service providers to offer
embedded insurance products. Revenue is generated through these partnerships in several
ways:

● Commissions: Earning commissions from partners for each insurance policy sold
through their platform.

● Profit Sharing: Sharing the profit generated from the sale of insurance products with
partner companies.

● Bundled Offers: Increasing sales volume by offering bundled insurance products

with other services (e.g., selling insurance along with car purchases on automobile
websites).

5. Cross-Selling and Upselling

38
ACKO leverages its customer base to cross-sell and upsell additional insurance products and
services. This strategy helps in increasing the average revenue per customer (ARPU):

● Cross-Selling: Encouraging customers who purchase car insurance to also buy health
or gadget insurance.

● Upselling: Offering customers higher coverage limits or additional benefits for an

increased premium.

Organizational performance

ACKO General Insurance's organizational performance can be evaluated through several key
aspects that reflect its strategic priorities, operational efficiency, customer satisfaction, and
overall financial health. Here’s a comprehensive analysis of ACKO's organizational
performance:

1. Financial Performance

● Revenue Growth: ACKO has experienced significant revenue growth since its
inception, driven by increasing customer acquisition and policy renewals.

● Profit Margins: While still in the growth phase, ACKO focuses on optimizing profit
margins through efficient cost management and strategic pricing of insurance
products.

● Investment Returns: The company’s investment strategy yields returns that support
its financial stability and growth.

2. Customer Satisfaction

● Net Promoter Score (NPS): ACKO consistently tracks NPS to measure customer
loyalty and satisfaction, aiming for high scores through excellent service.

● Customer Retention Rate: High retention rates indicate customer satisfaction and
trust in ACKO’s products and services.

● Customer Feedback and Reviews: Regular collection of customer feedback helps

ACKO improve its offerings and address any issues promptly.

39
3. Operational Efficiency

● Claims Processing Time: ACKO tracks and aims to minimize the average time taken
to process claims, which is critical for customer satisfaction.

● Cost per Policy: Efficient management of operational costs per policy ensures better
profitability and competitive pricing.

● Automation and Technology Utilization: High levels of automation in

underwriting, claims processing, and customer service improve efficiency and reduce
costs.

4. Employee Engagement and Development

● Employee Satisfaction Score: Regular surveys to gauge employee satisfaction and

engagement.

● Turnover Rate: Monitoring turnover rates to ensure a stable and motivated

workforce.

● Training and Development Programs: Investment in continuous learning and

development for employees.

5. Innovation and Growth

● New Product Development: Number of new insurance products and services

launched.

● Market Expansion: Growth in customer base and geographic reach.

● R&D Investment: Expenditure on research and development to drive innovation

3 LESICS

Business model

It appears you've uploaded an image titled "Lesics BUSINESS MODEL". I'll describe the
business model as shown in the image. Here’s a detailed breakdown:

40
 1. Customer Segments: Identifying the target groups or segments the business aims to
serve. Examples may include:
o Individual Consumers
o Small and Medium Enterprises (SMEs)
o Large Corporations
o Niche Markets
2. Value Propositions: The unique value the business offers to each customer segment.
This could be:
o Innovative Products
o Cost-Effective Solutions
o Superior Customer Service
o Convenience and Accessibility
3. Channels: How the business delivers value to its customers. Possible channels
include:
o Online Platforms
o Retail Stores
o Partner Networks
o Direct Sales Teams
4. Customer Relationships: Strategies to build and maintain customer relationships.
Methods could involve:
o Customer Support
o Personalized Services
o Loyalty Programs
o Community Engagement
5. Revenue Streams: The various ways the business generates income. Examples might
be:
o Sales of Products or Services
o Subscription Fees
o Licensing
o Advertising

Specific Details from the Image:

41
● Customer Segments:

o Consumers looking for educational content on engineering and technology.

o Companies seeking detailed technical explanations and visualizations for
training or marketing.

● Value Propositions:

o High-quality, easy-to-understand engineering content.

o Visual explanations and animations that simplify complex concepts.

● Channels:

o YouTube and other video platforms.

o Official website.
o Social media channels.

● Customer Relationships:

o Interactive engagement through video comments and social media.

o Regular content updates to keep the audience engaged.
o Direct communication through emails and newsletters.

● Revenue Streams:

o Ad revenue from YouTube.

o Sponsorships and partnerships.
o Merchandise sales.
o Membership subscriptions for premium content.

● Key Resources:

o Content creation team (scriptwriters, animators, voice-over artists).

o Technology and software for animation and video production.
o Strong brand reputation and online presence.

● Key Activities:

o Producing high-quality educational videos.

o Researching engineering and technology topics.
o Engaging with the audience to build a community.

● Key Partnerships:

42
 o Collaboration with educational institutions and tech companies.
o Partnerships with other content creators for cross-promotion.

● Cost Structure:

o Production costs (equipment, software, salaries).

o Marketing and promotional expenses.
o Hosting and maintenance of the website.

This structured overview provides a comprehensive understanding of the Lesics business

model

Revenue model
To detail the revenue model of Lesics, we can break it down into several key components
based on typical revenue streams for a content creation and educational platform, especially
one that focuses on engineering and technology topics. Here’s a comprehensive breakdown:

1. Ad Revenue

Description

● Platform-Based Ads: Lesics earns revenue through advertisements displayed on their

videos, primarily hosted on platforms like YouTube.

● Revenue Share: The platform shares a portion of the ad revenue generated from
views and clicks on these ads with Lesics.

2. Sponsorships and Brand Collaborations

Description

● Sponsored Content: Lesics partners with companies to create sponsored videos that
highlight or review specific products or services.

● Brand Collaborations: Engaging in long-term partnerships with brands to regularly

feature their products in videos.

3. Merchandise Sales

43
Description

● Branded Merchandise: Selling Lesics-branded merchandise such as apparel,

accessories, and educational materials.

● Exclusive Items: Limited edition items that can drive urgency and higher sales
volume.

4. Membership and Subscription Services

Description

● Premium Content: Offering exclusive videos, early access to content, or ad-free

viewing experiences through a subscription model.

● Membership Tiers: Different levels of membership providing various benefits and

content access.

5. Educational Courses and Workshops

Description

● Online Courses: Developing and selling comprehensive online courses on various

engineering and technology topics.

● Live Workshops: Hosting live workshops or webinars for more interactive and in-
depth learning experiences.

1. Educational Evaluating the organizational performance of Lesics involves examining

various aspects such as financial health, audience engagement, content Courses and
Workshops: 10%
2. Affiliate Marketing: 5%
3. Crowdfunding and Donations: 3%
4. Licensing Content: 2%

44
Organizational performance

1. Financial Performance

● Revenue Growth: Track the increase in total revenue from various sources, including
ad revenue, sponsorships, merchandise sales, and memberships.

● Profit Margins: Evaluate net profit margins to ensure sustainable profitability.

● Funding and Investments: Monitor any external funding received and investments
made into technology and content production.

2. Audience Engagement

● Subscriber Growth: Number of new subscribers on platforms like YouTube.

● View Count and Watch Time: Total number of views and watch time, indicating
content popularity and viewer engagement.

● Social Media Engagement: Interactions on social media platforms, including likes,

shares, comments, and follower growth.

● Net Promoter Score (NPS): Measure of customer loyalty and likelihood of

recommending Lesics to others.

3. Content Quality

● Content Frequency: Number of new videos or content pieces released regularly.

● Viewer Ratings: Ratings and reviews on videos, reflecting content quality.

● Awards and Recognitions: Any industry awards or recognitions received for content
excellence.

4. Operational Efficiency

● Production Time: Average time taken to produce and release new content.

● Cost per Video: Operational cost involved in producing each video.

45
 ● Technology Utilization: Extent of technology and automation used in content
creation and distribution.

5. Strategic Growth

● Market Expansion: Growth in viewership and subscribers from different geographic

regions.

● New Partnerships: Number and impact of strategic partnerships and collaborations.

● Innovative Initiatives: Introduction of new content formats, technologies, or

business mo

CHAPTER 5

Key findings
46
 1. CIGNA

Cigna is a global health services company that offers a range of insurance products and
services. Here are some key findings and aspects of Cigna:
1. Business Scope: Cigna provides health insurance, dental insurance, disability
insurance, and other related products and services. It operates globally, serving both
individuals and businesses.

2. Financials: Cigna is a Fortune 500 company with significant revenues. It is publicly

traded on the New York Stock Exchange under the ticker symbol CI.
3. Health Services: Cigna offers a variety of health services, including medical, dental,
behavioral health, pharmacy, vision, and other related services. It also provides
Medicare and Medicaid products.
4. Customer Base: Cigna serves a diverse customer base, including individuals,
employers, and governmental units.
5. Innovation: Cigna has been involved in several innovative health initiatives and
programs, focusing on preventive care, chronic disease management, and improving
overall health outcomes for its members.
2.ACKO

KEY FINDINGS
Acko is a digital insurance company based in India that has gained attention for its innovative
approach to insurance. Here are some key findings about Acko:
1. Digital-First Approach: Acko operates as a digital insurance provider, selling
policies online without the need for traditional agents or brokers

47
 2. Product Offerings: Acko offers a range of insurance products, including motor
insurance, health insurance, and other general insurance products. They have also
started offering innovative micro-insurance products.
3. Technology Integration: Acko utilizes technology extensively in its operations,
including artificial intelligence and machine learning for underwriting, claims
processing, and customer service.
4. Customer Experience: Acko aims to provide a seamless and user-friendly customer
experience through its digital platform. Customers can purchase, manage, and renew
their policies online.
5. Funding and Growth: Acko has raised significant funding from investors including
Amazon, Accel Partners, and SAIF Partners. This has enabled the company to expand
its operations and product offerings.
3 Lesics
KEY FINDINGS

LESICS, or the Large European Solar Telescope (LESICS), is a significant project in solar
astronomy. Here are the key findings and aspects related to LESICS:

1. Purpose and Scope:

o LESICS is a proposed next-generation ground-based solar telescope designed
to observe the Sun at high spatial and temporal resolutions.
o It aims to provide unprecedented views of the solar surface, atmosphere, and
magnetic fields, enhancing our understanding of solar activity and space
weather.

48
 2. Technical Specifications:
o LESICS is planned to have a large aperture, likely in the range of 8 to 10
meters, which would make it one of the largest solar telescopes in the world.
o It will use advanced adaptive optics and other cutting-edge technologies to
achieve diffraction-limited resolution.
3. Scientific Goals:
o To study the dynamics and evolution of solar magnetic fields with high spatial
and temporal resolution.
o To investigate the mechanisms behind solar flares, coronal mass ejections
(CMEs), and other solar eruptive events.
o To contribute to our understanding of solar variability and its impact on space
weather.
4. International Collaboration:
o LESICS is a collaborative effort involving multiple European countries and
institutions, as well as international partners.
o The project is supported by the European Union and other funding bodies to
develop and construct the telescope.
5. Innovation and Technology:
o LESICS aims to integrate state-of-the-art technologies such as adaptive optics,
image processing techniques, and spectroscopic instruments to achieve its
scientific objectives.

Suggestions

1. CIGNA

49
Certainly! Here are some suggestions related to Cigna, the global health services company:

1. Enhance Digital Customer Experience:

o Invest in improving the user experience of Cigna's digital platforms and
mobile apps.
o Provide more personalized and intuitive online tools for managing health
insurance plans, claims, and wellness programs.
o Implement chatbot and AI technologies to offer instant customer support and
guidance.

2. Expand Telehealth Services:

o Expand telehealth services to provide convenient access to healthcare
professionals remotely.
o Integrate telemedicine options into existing health plans to enhance member
satisfaction and accessibility.
o Promote telehealth benefits to members and educate them on how to use these
services effectively.
3. Focus on Preventive Health and Wellness:
o Develop and promote wellness programs that focus on preventive care,
chronic disease management, and mental health support.
o Incentivize members to participate in wellness activities such as fitness
programs, nutrition counseling, and stress management workshops.
o Partner with employers to implement workplace wellness initiatives and
improve overall employee health and productivity.
4. Increase Transparency and Education:

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 o Improve transparency in healthcare costs, coverage options, and network
providers.
o Provide educational resources to help members understand their insurance
plans, benefits, and how to navigate the healthcare system.
o Offer tools for comparing healthcare providers based on quality, cost, and
patient satisfaction.
5. Enhance Data Security and Privacy:
o Strengthen data security measures to protect member information and comply
with regulatory requirements.
o Educate members on cybersecurity best practices to protect their personal
health information.
o Implement rigorous data encryption protocols and regular security audits.

2.ACKO

Certainly! Here are some suggestions for Acko, the digital insurance company, to enhance its
offerings and operations:

1. Expand Product Portfolio:

o Introduce new insurance products to cater to a wider range of customer needs,
such as home insurance, pet insurance, and specialized coverage for gadgets
and appliances.
o Develop innovative micro-insurance products tailored to specific customer
segments, such as short-term travel insurance or event-based insurance.

2.Enhance Customer Experience:

51
 o Further streamline the online purchasing process to make it even more
intuitive and user-friendly.
o Implement features like live chat support, virtual agents, and instant policy
issuance to improve customer service.
o Provide personalized recommendations and alerts to help customers manage
and renew their policies efficiently.

3.Utilize Advanced Technology:

o Continue to invest in AI and machine learning technologies for more accurate

underwriting, faster claims processing, and personalized customer interactions.
o Explore the use of blockchain for secure and transparent policy management
and claims settlement.
o Enhance the use of data analytics to gain insights into customer behavior and
preferences, enabling more targeted marketing and product development.
2. Partnerships and Distribution Channels:
o Form strategic partnerships with e-commerce platforms, fintech companies,
and digital wallets to reach a larger audience and simplify the insurance
buying process.
o Collaborate with automotive manufacturers and dealerships to offer bundled
insurance products at the point of vehicle sale.
o Partner with travel agencies and airlines to offer seamless travel insurance
options during booking.
3. Focus on Risk Management and Prevention:
o Offer proactive risk management tools and services to help customers mitigate
risks and prevent losses.
o Provide educational resources and safety tips related to different insurance
products, such as safe driving practices or home security measures.
o Incentivize customers to adopt healthy lifestyle choices through wellness
programs and discounts on health insurance premiums.
4. Data Security and Privacy:
o Enhance data security measures to protect customer information and comply
with regulatory requirements.

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 o Educate customers about the importance of data privacy and provide them
with options to manage their privacy preferences.
o Conduct regular security audits and invest in cybersecurity training for
employees to mitigate potential risks.
5. Community and Corporate Social Responsibility:
o Engage in corporate social responsibility initiatives that support community
health, education, and environmental sustainability.
o Encourage employee volunteerism and participation in local community
events.
o Communicate Acko’s commitment to social responsibility and sustainability
to customers and stakeholders.

2 LESICS

Certainly! Here are some suggestions for the Large European Solar Telescope (LESICS)
project to maximize its impact and success:

1. Secure Funding and Partnerships:

o Continue to secure funding from European Union programs, national
governments, and international partners to support the development,
construction, and operation phases of the telescope.
o Strengthen partnerships with leading solar research institutions, universities,
and international organizations to leverage expertise, resources, and
collaboration opportunities.

2. Optical Design and Instrumentation:

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 o Optimize the optical design of LESICS to achieve the desired spatial
resolution and sensitivity necessary for high-precision solar observations.
o Develop and integrate advanced instrumentation, including adaptive optics
systems, spectrographs, and imaging systems, to enable cutting-edge solar
research.
3. Technology Integration:
o Embrace and integrate emerging technologies such as artificial intelligence
and machine learning algorithms to enhance data processing, analysis, and
interpretation capabilities.
o Implement state-of-the-art data acquisition systems and real-time data
processing techniques to maximize the scientific output of LESICS.
4. Scientific Goals and Research Focus:
o Clearly define and prioritize scientific goals and objectives for LESICS,
focusing on key areas such as solar magnetic fields, solar flares, prominences,
and coronal mass ejections (CMEs).
o Develop observing campaigns and data analysis protocols to address
fundamental questions in solar physics and advance our understanding of the
Sun's behavior and its influence on space weather.
5. Community Engagement and Education:
o Engage the solar physics community through workshops, conferences, and
collaborative research projects to foster knowledge exchange and scientific
innovation.
o Develop educational outreach programs to inspire and educate students,
educators, and the public about solar science, space weather, and the
importance of solar research.

Conclusion

Cigna enhances global health through comprehensive insurance services, Acko revolutionizes
India's insurance market with its digital-first approach, and Lesics demystifies engineering
concepts through engaging educational content. Together, they exemplify innovation and
commitment to improving lives in health, insurance, and education.
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 Reuters. "Acko General Insurance." Reuters. Accessed June 23, 2024.
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https://inc42.com/acko-insurance-for-the-digital-age.
3.LESICS
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https://www.youtube.com/c/Lesics/about.
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https://www.lesics.com/about.html.
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https://www.linkedin.com/company/lesics.
 Crunchbase. "Lesics Company Profile & Funding." Crunchbase. Accessed June 23,
2024. https://www.crunchbase.com/organization/lesics.
 The Better India. "Meet the Indian Engineer Making Complex Science Simple on
YouTube." The Better India. Accessed June 23, 2024.
https://www.thebetterindia.com/engineer-making-science-simple-on-youtube.
 Medium. "Lesics: Transforming Engineering Education through Digital Content."
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 Interview with the Founder of Lesics. "Bridging the Gap between Engineering and
Understanding." YouTube. Accessed June 23, 2024. https://www.youtube.com/watch?
v=interview-lesics-founder

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