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Cigna Reports Fourth Quarter and Full Year 2021 Results, Expects Continued Revenue and Attractive Earnings Per Share Growth in 2022

February 4, 2022 Published by Roboticulized.com

Global health services company Cigna Corporation (NYSE: CI) today reported 2021 results reflecting continued strong business growth aided by the Company’s diversified portfolio.

“We performed well in 2021 as we supported the growing needs of our clients, customers and patients,” said David M. Cordani, chairman and chief executive officer. “2022 will be a year of growth across our franchise as we continue innovating and advancing our work to make health care more affordable, predictable, and simple.”

Total revenues for 2021 were $174.1 billion. Adjusted revenues¹ were $174.1 billion and reflect strong contributions from each of Cigna’s ongoing businesses.

Shareholders’ net income for 2021 was $5.4 billion, or $15.73 per share, compared with $8.5 billion, or $22.96 per share, for 2020. Shareholders’ net income in 2020 included an after tax gain of $3.2 billion, or $8.73 per share, from the sale of the Group Disability and Life business.

Cigna’s adjusted income from operations² for 2021 was $7.0 billion, or $20.47 per share, compared with $6.8 billion, or $18.45 per share, for 2020 reflecting strong earnings contributions across the Company’s businesses, led by Evernorth.

Reconciliations of total revenues to adjusted revenues¹ and of shareholders’ net income to adjusted income from operations² are provided on the following page and on Exhibit 1 of this earnings release.

CONSOLIDATED HIGHLIGHTS

The following table includes highlights of results and reconciliations of total revenues to adjusted revenues¹ and shareholders’ net income to adjusted income from operations²:

Consolidated Financial Results (dollars in millions):
	Three Months Ended			Year Ended
	December 31,		September 30,	December 31,
	2021	2020	2021	2021

Total Revenues	$ 45,688	$ 41,712	$ 44,288	$ 174,078
Net Realized Investment (Gains) Losses from Equity Method Investments¹	(12)	(43)	22	—
Adjusted Revenues¹	$ 45,676	$ 41,669	$ 44,310	$ 174,078

Consolidated Earnings, net of taxes
Shareholders’ Net Income	$ 1,116	$ 4,135	$ 1,621	$ 5,365
Net Realized Investment (Gains) Losses²	(59)	(169)	(42)	(158)
Amortization of Acquired Intangible Assets²	326	370	392	1,494
Special Items²	189	(3,069)	(35)	279
Adjusted Income from Operations²	$ 1,572	$ 1,267	$ 1,936	$ 6,980

Shareholders’ Net Income, per share	$ 3.39	$ 11.45	$ 4.80	$ 15.73
Adjusted Income from Operations², per share	$ 4.77	$ 3.51	$ 5.73	$ 20.47

In 2021, the Company repurchased 35.2 million shares of common stock for $7.7 billion. Year to date through February 2, 2022, the Company repurchased 2.5 million shares of common stock for approximately $580 million.
In 2021, the Company initiated a quarterly cash dividend and declared quarterly cash dividends of $1.00 per share of Cigna common stock. On February 3, 2022, the Company’s Board of Directors declared a cash dividend of $1.12 per share of Cigna common stock to be paid on March 24, 2022 to shareholders of record as of the close of trading on March 9, 2022.
The debt-to-capitalization ratio was 41.7% at December 31, 2021, reflecting higher commercial paper balances and the impact of share repurchases on shareholders equity.
The SG&A expense ratio⁴ was 7.3% for full year 2021 compared to 8.5% for full year 2020, driven by revenue growth, the repeal of the health insurance industry tax, and continued expense efficiency.
Fourth quarter 2021 special items include an after-tax charge of $119 million, or $0.36 per share, related to a strategic plan to further leverage the Company’s ongoing growth to drive operational efficiency through enhancements to organizational structure and increased use of automation and shared services.

CUSTOMER RELATIONSHIPS

The following table summarizes Cigna’s medical customers and overall customer relationships:

Customer Relationships (in thousands):
	As of the Periods Ended
	December 31,		September 30,
	2021	2020	2021

Total Customer Relationships⁵	185,672	173,241	181,339

Total Pharmacy Customers⁵	107,298	98,850	103,612

U.S. Commercial	13,854	13,626	13,788
U.S. Government	1,510	1,387	1,517
International Health	1,717	1,637	1,701
Total Medical Customers^5,6	17,081	16,650	17,006

Behavioral Care	40,380	36,908	39,784
Dental	17,731	17,542	17,753
Medicare Part D	3,182	3,291	3,184

The pharmacy customer base⁵ at the end of 2021 grew to 107.3 million, an organic increase of 8.4 million year to date, driven by strong ongoing retention and new sales.
The total medical customer base^5,6 at the end of 2021 grew to 17.1 million, an increase of 431,000 customers year to date, driven by net growth across each business within the Cigna Healthcare segment.

HIGHLIGHTS OF SEGMENT RESULTS

See Exhibit 1 for a reconciliation of adjusted income (loss) from operations² to shareholders’ net income.

Evernorth

This segment includes a broad range of coordinated and point solution health services and capabilities, including pharmacy solutions, benefits management solutions, care delivery and care management solutions, and intelligence solutions, which are provided to health plans, employers, government organizations, and health care providers.

Financial Results (dollars in millions):
	Three Months Ended			Year Ended
	December 31,		September 30,	December 31,
	2021	2020	2021	2021

Adjusted Revenues¹	$ 35,086	$ 30,533	$ 33,614	$ 131,912
Adjusted Income from Operations, Pre-Tax²	$ 1,634	$ 1,589	$ 1,548	$ 5,818
Adjusted Margin, Pre-Tax⁷	4.7%	5.2%	4.6%	4.4%

Fourth quarter 2021 adjusted revenues¹ increased 15% relative to fourth quarter 2020 reflecting strong organic growth in specialty pharmacy services and increased retail network volumes, including the impact of COVID-19 vaccines.
Fourth quarter 2021 adjusted income from operations, pre-tax² increased 3% relative to fourth quarter 2020, reflecting continued affordability improvements for the benefit of our clients, customers and patients and business growth, partially offset by strategic investments in expanding partnerships, new businesses and solutions, and technology.
Evernorth fulfilled 424 million adjusted pharmacy scripts⁸ in fourth quarter 2021, an increase of 9% over fourth quarter 2020 driven by strong organic growth and COVID-19 vaccine volumes.

Cigna Healthcare⁶

This segment includes Cigna’s U.S. Commercial, U.S. Government, and International Health businesses that provide comprehensive medical and coordinated solutions to clients and customers. U.S. Commercial products and services include medical, pharmacy, behavioral health, dental, vision, health advocacy programs and other products and services for insured and self-insured customers. U.S. Government solutions include Medicare Advantage, Medicare Supplement, and Medicare Part D plans for seniors, and individual health insurance plans both on and off the public exchanges. International Health solutions include health care coverage in our international markets, as well as health care benefits for globally mobile individuals and employees of multinational organizations.

Financial Results (dollars in millions):
	Three Months Ended			Year Ended
	December 31,		September 30,	December 31,
	2021	2020	2021	2021

Adjusted Revenues^1,9	$ 11,214	$ 10,413	$ 11,222	$ 44,652
Adjusted Income from Operations, Pre-Tax²	$ 472	$ 285	$ 1,046	$ 3,609
Adjusted Margin, Pre-Tax⁷	4.2%	2.7%	9.3%	8.1%

Fourth quarter 2021 adjusted revenues^1,9 grew 8% over fourth quarter 2020, reflecting customer growth, premium increases, increased specialty contributions, and favorable net investment income.
Fourth quarter 2021 adjusted income from operations, pre-tax² and adjusted margin, pre-tax⁷ increased relative to fourth quarter 2020 primarily due to increased specialty contributions, increased contributions from our International Health business, the repeal of the health insurance industry tax, and favorable net investment income, partially offset by higher medical costs in our U.S. Commercial and U.S. Government businesses.
The Cigna Healthcare medical care ratio⁴ (“MCR”) of 87.0% for fourth quarter 2021 compares to 84.8% for fourth quarter 2020, reflecting higher medical costs in our stop loss and U.S. Commercial insured businesses, including net unfavorable COVID-19 related impacts, and the pricing effect of the repeal of the health insurance industry tax. These impacts were partially offset by favorable contributions from behavioral products.
The Cigna Healthcare MCR⁴ of 84.0% for full year 2021 compares to 78.3% for full year 2020, reflecting the impact of higher medical costs in our U.S. Commercial and U.S. Government businesses, including net unfavorable COVID-19 related impacts, lower Medicare Advantage risk adjustment revenues, and the pricing effect of the repeal of the health insurance industry tax. These impacts were partially offset by the absence of 2020 premium relief programs in response to the COVID-19 pandemic.
Full year 2021 adjusted income from operations, pre-tax² for Cigna’s U.S. Commercial and U.S. Government businesses combined, which were previously reported as U.S. Medical, was $3.43 billion¹³. The combined MCR⁴ for these two businesses was 84.9% for full year 2021.
Cigna Healthcare net medical costs payable¹⁰ was $4.00 billion at December 31, 2021, $4.05 billion at September 30, 2021, and $3.46 billion at December 31, 2020. Favorable prior year reserve development on a gross pre-tax basis was $219 million and $144 million through full year 2021 and 2020, respectively.

Corporate and Other Operations^{6, 11}

Corporate reflects interest expense, as well as amounts not allocated to operating segments and includes intersegment eliminations. Additionally, this discussion includes items reported in our Other Operations segment which is comprised of the international life, accident, and supplemental benefits businesses held for sale pending divestiture⁶, Corporate Owned Life Insurance (“COLI”), the Company’s run-off operations, and the Group Disability and Life business prior to the divestiture on December 31, 2020.

Financial Results (dollars in millions):
	Three Months Ended			Year Ended
	December 31,		September 30,	December 31,
	2021	2020	2021	2021

Adjusted (Loss) from Operations, Pre-Tax²	$ (115)	$ (236)	$ (83)	$ (450)

Fourth quarter 2021 adjusted loss from operations, pre-tax² was favorable to fourth quarter 2020 reflecting higher contributions from our international life, accident, and supplemental benefits businesses, lower interest expense, and lower corporate operating expenses.

2022 OUTLOOK

Cigna’s outlook for full year 2022 adjusted revenues^1,3 is projected to be at least $177 billion. Cigna’s outlook for full year 2022 consolidated adjusted income from operations^2,3 is projected to be at least $6.95 billion, or at least $22.40 per share³. Additionally, this outlook includes the impact of expected future share repurchases, anticipated 2022 dividends, and assumes that the previously announced divestiture of our international life, accident, and supplemental benefits businesses⁶ will close in the second quarter of 2022.

(dollars in millions, except where noted and per share amounts)

2022 Consolidated Metrics	Projection for Full Year Ending December 31, 2022
Adjusted Revenues^1,3	at least $177,000
Adjusted Income from Operations^2,3	at least $6,950
Adjusted Income from Operations, per share^2,3	at least $22.40
SG&A Expense Ratio^3,4	6.9% to 7.3%
Adjusted Tax Rate^3,12	22.0% to 22.5%
Adjusted Margin, After-Tax^3,7	~3.9%
Cash Flow from Operations³	at least $8,250
Capital Expenditures³	~$1,250
Shareholder Dividends³	~$1,400
Weighted Average Shares Outstanding (millions)³	308 to 312

2022 Evernorth Metrics
Adjusted Income from Operations, Pre-Tax^2,3	~$6,100

2022 Cigna Healthcare Metrics
Adjusted Income from Operations, Pre-Tax^2,3	~$3,900
Medical Care Ratio^3,4	82.0% to 83.5%
Total Medical Customer Growth (lives)^3,5	at least 575,000

The foregoing statements represent the Company’s current estimates of Cigna’s 2022 consolidated and segment adjusted income from operations^2,3 and other key metrics as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation to update these estimates.

This quarterly earnings release and the Quarterly Financial Supplement are available on Cigna’s website in the Investor Relations section (https://investors.cigna.com/home/default.aspx). Management will be hosting a conference call to review full year 2021 results and discuss full year 2022 outlook beginning today at 8:30 a.m. ET. A link to the conference call is available in the Investor Relations section of Cigna’s website located at https://investors.cigna.com/events-and-presentations/default.aspx.

The call-in numbers for the conference call are as follows:

Live Call
            (888) 566-1253   (Domestic)
            (773) 799-3825   (International)
            Passcode: 232022

Replay
(866) 359-3779 (Domestic)
(203) 369-0147 (International)

It is strongly suggested you dial in to the conference call by 8:15 a.m. ET.

About Cigna

Cigna Corporation (NYSE: CI) is a global health services company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Evernorth companies or their affiliates, and Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products.

Cigna maintains sales capability in over 30 countries and jurisdictions, and has over 185 million customer relationships throughout the world. To learn more about Cigna^®, including links to follow us on Facebook or Twitter, visit www.cigna.com.

Notes:
1.	Adjusted revenues is used by Cigna’s management because it permits analysis of trends in underlying revenue. The Company defines adjusted revenues as total revenues excluding the following adjustments: special items and Cigna’s share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. We exclude these items from this measure because management believes they are not indicative of past or future underlying performance of the business. Adjusted revenues is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, total revenues. See Exhibit 1 for a reconciliation of consolidated adjusted revenues to total revenues.

2.	Adjusted income (loss) from operations is a principal financial measure of profitability used by Cigna’s management because it presents the underlying results of operations of Cigna’s businesses and permits analysis of trends in underlying revenue, expenses and shareholders’ net income. Adjusted income from operations is defined as shareholders’ net income (or income before income taxes for the segment metric) excluding net realized investment results, amortization of acquired intangible assets and special items. Cigna’s share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders’ net income. See Exhibit 1 for a reconciliation of consolidated adjusted income from operations to shareholders’ net income.

3.	Management is not able to provide a reconciliation of adjusted income from operations to shareholders’ net income (loss) or adjusted revenues to total revenues on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net realized investment results (from equity method investments with respect to adjusted revenues) and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond Cigna’s control. As such, any associated estimate and its impact on shareholders’ net income and total revenues could vary materially. The Company’s outlook assumes that the previously announced divestiture of the international life, accident, and supplemental benefits businesses⁶will close in the second quarter of 2022 but excludes the potential effects of any other business combinations that may occur after the date of this earnings release. The Company’s outlook includes the potential effects of expected future share repurchases and anticipated 2022 dividends. As announced in January 2021, Cigna currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors and the Board’s determination that the declaration of dividends remains in the best interests of Cigna and its shareholders. The decision of whether to pay future dividends and the amount of any such dividends will be based on the Company’s financial position, results of operations, cash flows, capital requirements, the requirements of applicable law and any other factors the Board of Directors may deem relevant. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. The share repurchase program may be effected through open market purchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including through Rule 10b5-1 trading plans, or privately negotiated transactions. The program may be suspended or discontinued at any time.

4.	Operating ratios are defined as follows:
	•	The Cigna Healthcare medical care ratio represents medical costs as a percentage of premiums for all U.S. Commercial risk products, including medical, pharmacy, dental, stop loss and behavioral products provided through guaranteed cost or experience-rated funding arrangements, as well as Medicare Advantage, Medicare Part D, Medicare Supplement, individual on and off-exchange products, and healthcare products within our International Health business, within the Cigna Healthcare segment.
	•	The medical care ratio for Cigna’s U.S. Commercial and U.S. Government businesses combined, which were previously reported as U.S. Medical, includes the same items outlined above for the Cigna Healthcare segment, but excludes healthcare products within our International Health business.
	•	SG&A expense ratio represents enterprise selling, general and administrative expenses excluding special items as a percentage of adjusted revenue at a consolidated level.

5.	Customer relationships are defined as follows:
	•	Total medical customers includes individuals in the Cigna Healthcare segment who meet any one of the following criteria: are covered under a medical insurance policy, managed care arrangement, or service agreement issued by Cigna; have access to Cigna’s provider network for covered services under their medical plan; or have medical claims and services that are administered by Cigna.
	•	International Health medical customers excludes medical customers served by less than 100% owned subsidiaries and customers that are part of the businesses to be sold pursuant to the previously announced divestiture of the international life, accident, and supplemental benefits businesses⁶. Prior year lives have been restated to conform to this presentation.
	•	Pharmacy customer relationships. Effective January 1, 2021, Pharmacy lives have been updated to reflect actual eligibility data for benefits provided to Prime Therapeutics. Previously these lives had been estimated based on prescriptions filled during the period. Pharmacy lives for prior periods have been restated to reflect this change.
	•	Policies issued by the businesses subject to the definitive agreement to sell certain of our international life, accident, and supplemental benefits businesses⁶ have been excluded from customer relationships.

6.	We entered into a definitive agreement in October 2021 to sell our life, accident, and supplemental benefits businesses in Hong Kong, Indonesia, New Zealand, South Korea, Taiwan, Thailand and our interest in a joint venture in Turkey to Chubb INA Holdings, Inc. (the “Chubb Transaction”). Subject to applicable regulatory approvals and customary closing conditions, we expect to complete this transaction in the second quarter of 2022. In connection with the pending Chubb Transaction, we revised our business reporting structure and, effective in the fourth quarter of 2021, we adjusted our segment reporting so that the results previously reported in the International Markets segment are now reported as follows:
	•	The businesses to be retained by Cigna are reported in the newly created International Health operating segment that will be aggregated with our existing U.S. Commercial and U.S. Government operating segments in the renamed Cigna Healthcare reporting segment (previously named U.S. Medical).
	•	The businesses to be sold pursuant to the Chubb Transaction are reported in Other Operations, which is included in “Corporate and Other Operations” in our earnings release and quarterly financial supplement.

	Segment results for the periods presented have been restated to conform to the new segment presentation. See Cigna’s Current Report on Form 8-K filed on January 24, 2022 for additional information.

7.	Adjusted margin, pre-tax, is calculated by dividing adjusted income (loss) from operations, pre-tax by adjusted revenues for each segment. Adjusted margin, after-tax, is calculated by dividing consolidated adjusted income (loss) from operations by consolidated adjusted revenues. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results.

8.	For Evernorth adjusted pharmacy scripts, non-specialty network scripts filled through 90-day programs and home delivery scripts are multiplied by three. All other network and specialty scripts are counted as one script.

9.	Cigna owns a 50% non-controlling interest in its China joint venture. As such, the adjusted revenues for the Cigna Healthcare segment only include Cigna’s 50% share of the joint venture’s earnings reported in Fees and Other Revenues using the equity method of accounting under GAAP.

10.	Medical costs payable within the Cigna Healthcare segment are presented net of reinsurance and other recoverables. The gross medical costs payable balance was $4.26 billion as of December 31, 2021, $4.33 billion as of September 30, 2021, and $3.70 billion as of December 31, 2020.

11.	Beginning first quarter 2021, in our earnings release and quarterly financial supplement, “Corporate and Other Operations” combines the results previously reported as “Corporate” and the segment previously reported as “Group Disability and Other”, which is now reported as “Other Operations” in our securities filings. This change to simplify reporting was enabled by the sale of the Group Disability and Life business.

12.	The measure “adjusted tax rate” is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, “consolidated effective tax rate”. We define adjusted tax rate as the consolidated income tax rate applicable to the Company’s pre-tax income excluding net realized investment results, amortization of acquired intangible assets, and special items. Cigna’s share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Management is not able to provide a reconciliation to the consolidated effective tax rate on a forward-looking basis because we are unable to predict, without unreasonable effort, certain components thereof include (i) future net realized investment results and (ii) future special items.

13.	The aggregation of adjusted income from operations, pre-tax for Cigna’s U.S. Commercial and U.S. Government businesses is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, income before income taxes. See footnote 2 for a definition of adjusted income from operations, pre-tax. The reconciliation of income before income taxes to adjusted income from operations, pre-tax for Cigna’s U.S. Commercial and U.S. Government businesses combined, which were previously reported as U.S. Medical, for the year-ended December 31, 2021 is as follows:

Financial Results (dollars in millions):
		Year Ended
		December 31,
		2021
Income before income taxes		$ 3,646
Pre-tax adjustments required to reconcile to adjusted income from operations
Net realized investment (gains) losses		(239)
Amortization of acquired intangible assets		25
Adjusted income from operations, pre-tax		$ 3,432

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made in connection with this release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on Cigna’s current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning our projected adjusted income from operations outlook for 2022 on a consolidated, per share, and segment basis; projected adjusted revenue outlook for 2022; projected total medical customer growth over year end 2021; projected medical care and SG&A expense ratios; projected consolidated adjusted tax rate; projected adjusted margin; projected cash flow from operations; projected capital expenditures; future dividends; projected weighted average shares outstanding; future financial or operating performance, including our ability to deliver affordable, personalized and innovative solutions for our customers and clients, including in light of the challenges presented by the COVID-19 pandemic; future growth, business strategy, strategic or operational initiatives; economic, regulatory or competitive environments, particularly with respect to the pace and extent of change in these areas; financing or capital deployment plans and amounts available for future deployment; our prospects for growth in the coming years; strategic transactions, including the sale of our international life, accident and supplemental benefits business; and other statements regarding Cigna’s future beliefs, expectations, plans, intentions, liquidity, cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as “believe,” “expect,” “project,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “may,” “should,” “will” or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.

Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to achieve our strategic and operational initiatives; our ability to adapt to changes in an evolving and rapidly changing industry; the scale, scope and duration of the COVID-19 pandemic and its potential impact on our business, operating results, cash flows or financial condition; our ability to compete effectively, differentiate our products and services from those of our competitors and maintain or increase market share; price competition and other pressures that could compress our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; the potential for actual claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with physicians, hospitals, other health service providers and with producers and consultants; our ability to maintain relationships with one or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace or pharmacy networks; changes in drug pricing or industry pricing benchmarks; political, legal, operational, regulatory, economic and other risks that could affect our multinational operations; risks related to strategic transactions and realization of the expected benefits of such transactions, including with respect to the sale of our international life, accident and supplemental benefits business, as well as integration difficulties or underperformance relative to expectations; dependence on success of relationships with third parties; risk of significant disruption within our operations or among key suppliers or third parties; our ability to invest in and properly maintain our information technology and other business systems; our ability to prevent or contain effects of a potential cyberattack or other privacy or data security incident; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics and other types of medical facilities; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; uncertainties surrounding participation in government-sponsored programs such as Medicare; the outcome of litigation, regulatory audits, investigations; compliance with applicable privacy, security and data laws, regulations and standards; potential failure of our prevention, detection and control systems; unfavorable economic and market conditions, stock market or interest rate declines, risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness and the potential for further indebtedness in the future; unfavorable industry, economic or political conditions; credit risk related to our reinsurers; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-K, 10-Q and 8-K available through the Investor Relations section of www.cigna.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Cigna undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.

CIGNA CORPORATION					Exhibit 1
COMPARATIVE SUMMARY OF FINANCIAL RESULTS (unaudited)
(Dollars in millions, except per share amounts)
	Three Months Ended		Years Ended		Three Months Ended
	December 31,		December 31,		September 30,
	2021	2020	2021	2020	2021

REVENUES

Pharmacy revenues	$ 32,328	$ 28,305	$ 121,413	$ 107,769	$ 31,013
Premiums	10,342	10,699	41,154	42,627	10,275
Fees and other revenues	2,638	2,337	9,962	8,761	2,532
Net investment income	380	371	1,549	1,244	468
Total Revenues	45,688	41,712	174,078	160,401	44,288
Net realized investment results from certain equity method investments	(12)	(43)	—	(130)	22
Special item related to contractual adjustment for a former client	—	—	—	(204)	—
Adjusted revenues⁽¹⁾	$ 45,676	$ 41,669	$ 174,078	$ 160,067	$ 44,310

SHAREHOLDERS’ NET INCOME

Shareholders’ net income	$ 1,116	$ 4,135	$ 5,365	$ 8,458	$ 1,621
After-tax adjustments to reconcile adjusted income from operations
Net realized investment (gains) losses ⁽²⁾	(59)	(169)	(158)	(244)	(42)
Amortization of acquired intangible assets	326	370	1,494	1,431	392
Special Items
Charge for organizational efficiency plan	119	—	119	24	—
Debt extinguishment costs	—	—	110	151	—
Integration and transaction-related (benefits) costs	70	148	71	404	(35)
(Benefits) charges associated with litigation matters	—	—	(21)	19	—
Risk corridors recovery	—	—	—	(76)	—
Contractual adjustment for a former client	—	—	—	(155)	—
(Gain) on sale of business	—	(3,217)	—	(3,217)	—
Adjusted income from operations	$ 1,572	$ 1,267	$ 6,980	$ 6,795	$ 1,936

Pre-tax adjusted income (loss) from operations by segment
Evernorth	$ 1,634	$ 1,589	$ 5,818	$ 5,363	$ 1,548
Cigna Healthcare	472	285	3,609	4,031	1,046
Corporate and Other Operations	(115)	(236)	(450)	(586)	(83)
Consolidated pre-tax adjusted income from operations	1,991	1,638	8,977	8,808	2,511
Adjusted income tax expense	(419)	(371)	(1,997)	(2,013)	(575)
Consolidated after-tax adjusted income from operations	$ 1,572	$ 1,267	$ 6,980	$ 6,795	$ 1,936

DILUTED EARNINGS PER SHARE

Shareholders’ net income	$ 3.39	$ 11.45	$ 15.73	$ 22.96	$ 4.80
After-tax adjustments to reconcile to adjusted income from operations
Net realized investment (gains) losses ⁽²⁾	(0.18)	(0.47)	(0.46)	(0.66)	(0.12)
Amortization of acquired intangible assets	0.99	1.03	4.38	3.88	1.15
Special items
Charge for organizational efficiency plan	0.36	—	0.35	0.07	—
Debt extinguishment costs	—	—	0.32	0.41	—
Integration and transaction-related (benefits) costs	0.21	0.41	0.21	1.10	(0.10)
(Benefits) charges associated with litigation matters	—	—	(0.06)	0.05	—
Risk corridors recovery	—	—	—	(0.21)	—
Contractual adjustment for a former client	—	—	—	(0.42)	—
(Gain) on sale of business	—	(8.91)	—	(8.73)	—
Adjusted income from operations ⁽³⁾	$ 4.77	$ 3.51	$ 20.47	$ 18.45	$ 5.73
Weighted average shares (in thousands)	329,641	361,115	340,966	368,389	337,579
Common shares outstanding (in thousands)			322,948	354,771	331,400

SHAREHOLDERS’ EQUITY at December 31,			$ 47,112	$ 50,321

SHAREHOLDERS’ EQUITY PER SHARE at December 31,			$ 145.88	$ 141.84


(1) Adjusted revenues is defined as total revenues excluding the following adjustments: special items and Cigna’s share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting. These items are excluded because they are not indicative of past or future underlying performance of our businesses.

(2) Includes the Company’s share of certain realized investments results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting.

(3) Adjusted income (loss) from operations is defined as shareholders’ net income (or income before income taxes for the segment metric) excluding the following adjustments: net realized investment results, amortization of acquired intangible assets and special items. Cigna’s share of certain realized investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded.

HEALTHRHYTHMS AND UCHEALTH PARTNER TO BRING AI-BASED, PREDICTIVE MENTAL HEALTH PLATFORM TO MILLIONS OF PATIENTS

February 3, 2022 Published by Roboticulized.com

HealthRhythms, a digital mental health startup that seeks to become the behavioral health intelligence layer across all of healthcare, today announced a partnership with UCHealth to scale the benefits of its groundbreaking artificial intelligence (AI) -based digital platform to millions of patients. UCHealth is a Colorado-based health care system that serves 2.3 million patients.

The HealthRhythms’ app uses smartphone sensors like an accelerometer to passively measure behavior relevant to mental health, and leverages AI to assess an individual’s mental health status. It then uses that information to deliver personalized, timely interventions to improve mental health — sent directly to the patient’s smartphone. This helps solve the universal problems of patient monitoring and early detection, enabling providers to effectively triage and treat patients across the risk continuum.

“Partnering with UCHealth is a significant milestone in our commitment to transforming mental health care,” said HealthRhythms’ CEO Paul Gilbert. “HealthRhythms is the only company fully addressing this problem through valid measurement, high fidelity prediction and a highly personalized digital intervention platform that can be scaled to hundreds of millions of patients.”

“The current health landscape is characterized by poor access to timely, high-quality mental health care. HealthRhythms’ groundbreaking predictive analytics are unique and steeped in rigorous research,” said Neill Epperson, MD, chair of the University of Colorado Department of Psychiatry at the University of Colorado Anschutz Medical Campus. “Widespread utilization of HealthRhythms’ technology will transform how we care for patients with mental health concerns.”

“Patients with complex medical conditions like heart disease commonly also have complex mental health challenges. It is impossible to appropriately treat these patients without addressing all of the issues contributing to their health,” said Dr. Richard Zane, chief innovation officer at UCHealth and chair of emergency medicine at the University of Colorado School of Medicine. “The real breakthrough with HealthRhythms is that it allows all types of providers across all specialties to integrate behavioral health into their care without needing to be mental health experts.”

“Our vision is to have HealthRhythms on the phone of every patient who consents to it across the entire UCHealth system,” said Kimberly A. Muller, executive director of CU Innovations, a strategic healthcare fund affiliated with the University of Colorado Anschutz Medical Campus. “We recognize that mental health is, in fact, health. Addressing mental health is essential to everything we are looking to do for care integration. We believe HealthRhythms’ data and insights will change the face of care.”

UCHealth, a nationally-recognized academic health system with 12 hospitals and hundreds of clinic locations is focused on improving access to behavioral health care throughout Colorado, Wyoming and Nebraska. By diagnosing behavioral health concerns at earlier stages, and by providing timely intervention, HealthRhythms improves all patients’ lives, especially those with serious chronic diseases.

HealthRhythms also announced the close of a highly oversubscribed $11 million seed round led by GSR Ventures and investor Brook Byers, founding member of Kleiner Perkins Caufield & Byers. “This investor syndicate of 44 health tech leaders is one of the most accomplished, networked, and powerful I’ve ever seen,” said Byers. “Securing this broad support behind HealthRhythms’ world-class team for an important behavioral health mission is an awesome force multiplier.”

Dr. Sunny Kumar, a partner at GSR, will join the HealthRhythms Board of Directors. “Over the years, GSR has met with several hundred mental health companies, but HealthRhythms is one of the very few in which we have invested,” said Dr. Kumar. “HealthRhythms is different because it addresses the core challenge in mental health care: improving both access and quality – the Holy Grail dimensions of mental healthcare – while enabling providers to deploy resources across a much broader population. The improvement in depression management that the company has demonstrated is a game changer, unmatched by virtually any available digital therapeutic that I’m aware of. The company’s groundbreaking approach is rooted in a deep understanding of mental health and how to design digital experiences that are personally meaningful and easily woven into daily life.”

The HealthRhythms platform leverages over 40 years of laboratory and clinical research by HealthRhythms’ co-founders who are regarded as pioneers and field leaders in the understanding of the causes and treatment of mental disorders.

Greenland Technologies Chooses Cyngn to Bring Autonomous Vehicle Technology to Their Fleet of Lithium-Powered Electric Forklifts

February 3, 2022 Published by Roboticulized.com

Cyngn (Nasdaq: CYN), a developer of autonomous vehicle solutions for industrial fleets, and Greenland Technologies Holding Corporation (Nasdaq: GTEC) (“Greenland“), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machinery and vehicles, today announced they are embarking on a strategic partnership whereby Cyngn will bring its self-driving vehicle capabilities to Greenland forklifts with its proprietary Enterprise Autonomy Suite (EAS). Integration of EAS will enable Greenland forklifts to switch easily between fully autonomous, manual, and remotely-controlled modes. Organizations that run Cyngn’s autonomous vehicle technology also gain access to a breadth of analytics and software tools to generate operational insights and optimizations.

“Currently, there are over 850,000 forklifts operating in the United States alone,” stated Lior Tal, Cyngn’s Chairman and CEO. “Greenland is a recognized leader in the electric industrial vehicle and equipment space, and this partnership provides an important opportunity to bring self-driving capabilities to this widely-used and ubiquitous vehicle type.”

Raymond Wang, CEO of Greenland, added, “This partnership is another major development as we execute on our plans to bring the most innovative technology to our customers. Autonomous forklifts will not only make it easier for our customers to get work done and provide them with data that has never been available before, but the technology will also help them achieve their environmental sustainability goals by operating vehicles more efficiently.”

Greenland’s GEF Electric Lithium Forklifts are designed with varying rated load capabilities and suited for a wide range of applications, including logistics, warehousing, manufacturing and more. In the months ahead, Cyngn and Greenland plan to bring self-driving capabilities to Greenland’s other vehicles: the electric loader and the electric excavator.

Deliver direct to the door of millions of customers in China with Loqate’s new premium address data set

February 3, 2022 Published by Roboticulized.com

Loqate, a GBG solution, is making it easier than ever before for businesses based outside China to take advantage of the growing cross-border market, enabling them to sell and deliver goods and services to hundreds of millions of Chinese consumers. With the launch of the new China Premium Data Set – the most comprehensive premise-level address data for mainland China on the market – Loqate can help businesses quickly verify, onboard, and deliver to Chinese consumers.

China is home to 1.4 billion people, 140 million of which shop outside of the country for goods and services. According to Statista, the value of cross-border imports into China is valued at 2.8tn Yuan. But for companies operating outside the country, it can often be difficult to effectively sell and ship goods cross-border due to poor address-level data on consumers. Poor data makes it difficult to verify a customer, to identify and deliver to their address and causes compliance issues with Chinese regulations.

Loqate’s China Premium Data Set ensures quality and accuracy of address data on Chinese consumers. It is integrated into Loqate’s existing solutions, Capture and Verify, ensuring Loqate can now provide scalable address data capture, verification and enrichment solutions to businesses looking to reach the Chinese consumer. With more accurate address data on Chinese consumers, businesses will now be able to:

Reduce failed deliveries: Verifying addresses up-front can save businesses wasted costs in failed delivery attempts and chargebacks. Loqate customers have reduced failed delivery rates by up to 70%
Enhance the customer experience: Loqate’s Address Capture will auto-populate any Chinese address fields in three keystrokes or less, reducing data entry time by more than 78% and errors by 20%
Meet regional compliance requirements: Improved address-level data can help companies better verify shoppers, while also helping ensure Know Your Customer (KYC), anti-fraud regulations and address data quality requirements in region are met

Matthew Furneaux, Director of Location Intelligence at Loqate, said: “Being able to reach Chinese consumers online has never been more important, as wealthy Chinese consumers travel less and spend more on their home turf, according to research from consultancy firm Bain. This will have a profound impact on the luxury retail sector, for example, with China set to become the world’s biggest luxury market by 2025.

“Without accurate address data on Chinese consumers, however, businesses based overseas will find it increasingly difficult to capture this market – with failed deliveries, poor customer experience and compliance issues a major concern. The new data set is a game-changer, making it easier than ever before for companies to get a foothold and grow in the Chinese market.”

SearchStax Announces AI-driven Search and Recommendation Capabilities

February 3, 2022 Published by Roboticulized.com

SearchStax, a leading cloud-native search platform for modern customer experiences today announced availability of AI-powered search and content recommendations to enhance user engagement within digital experiences. While managing the largest Solr footprint in the world, SearchStax supports companies of all sizes, such as Canon Australia, HCA Healthcare, Stanley Black & Decker, Sitecore, Carnival Cruise Lines and Ligue De Football Professional.

The new AI-powered capabilities in SearchStax leverage machine learning to increase engagement when a user is searching on a website. Artificial intelligence is currently powering the auto-suggest and related searches features, and content recommendations are planned for the next release.

The Auto-Suggest feature enables real-time suggestions when the search starts typing their search term. SearchStax uses machine learning to leverage actual search history to build an index of the keywords that users have typed in for previous queries. There is also an Add Word feature that lets administrators pre-seed the Auto-Suggest suggestions with their own tips until the auto-suggest feature builds a sufficient database of suggestions from historical searches.

For Related Searches, SearchStax has incorporated Google-like search results that users expect to see at the bottom of their searches. Using learnings driven by historical searches and a review of the current website content, the AI-driven feature allows SearchStudio to offer up to 10 related search terms that may be of further interest to the user. Clicking on a related search term will launch a new search for that search phrase.

“We are currently rolling out related search functionality to deliver a better search experience for our users,” said Cindy Yui, Senior Digital Producer at Australian Catholic University (ACU). “Having the best possible search experience on our website is critical to our outreach to prospective students who want to further their education with ACU.”

Content Recommendations will give individual users a personalized search experience by automatically serving up related content based on analyzing their searches and content or products viewed. The technology will serve dynamic and relevant webpage content for different users depending on what search they performed.

“SearchStax’s mission is to make powerful search easy for companies across the globe. With our new AI-powered capabilities, we are furthering that promise by reducing the complexity of all Artificial Intelligence and using technology to solve real problems related to delivering relevant and engaging experiences.” said Sameer Maggon, Founder and CEO for SearchStax.

INKY Completes Email Security Offering with Launch of Outbound Mail Protection

February 3, 2022 Published by Roboticulized.com

INKY Technology Corporation, the leading cloud-based communication security platform, announced today the launch of Outbound Mail Protection, adding to INKY Phish Fence, the company’s existing inbound email security solution.

INKY Outbound Mail Protection reinvents the interaction between email users and the policy enforcement system with a mobile-first design that requires no specific email client plug-in. The magic comes from the integration with the INKY Email Assistant (originally known as the INKY Banner) that made their legacy solution so simple and effective. INKY Outbound Mail Protection provides a vastly improved mobile experience as well as more choices about how a given policy violation should be handled, all in an endpoint- and client-agnostic way.

“Traditional DLP systems scan outbound emails looking for content that violates established policies. With major user interface limitations, these systems send flagged messages to quarantine, often without notification to the sender or their manager. INKY Outbound Mail Protection manages a multi-step approval workflow, providing enforcement within the email system itself. We recognized the market need to offer a complete email security solution that addresses both inbound and outbound message exchanges,” said Dave Baggett, CEO, and Co-Founder of INKY. “With the launch of Outbound Mail Protection, INKY customers can now provide their end-users with improved accuracy in detecting and managing policy violations .”

INKY helps companies secure email using a cloud-based security platform that proactively and instantly scans inbound, internal, and outbound emails to mitigate phishing and malware. The platform intelligently eliminates security threats by blocking malicious emails while assisting employees in real-time to handle suspicious emails.

The solution’s patented technology sanitizes and rewrites all emails, detects and blocks brand forgery attempts using computer vision and machine learning models, and mitigates sender impersonation attacks using social profiling and stylometry algorithms. INKY helps employees make safer email decisions with its INKY Email Assistant. The INKY platform was designed for mobile-first IT organizations and works seamlessly on any device, operating system, and mail client.

Extreme Networks Bolsters Cloud, Service Provider Expertise with New Global Sales Leadership

February 2, 2022 Published by Roboticulized.com

Extreme Networks, Inc. (Nasdaq: EXTR), a cloud-driven networking company, today announced new leadership across its global sales organization, naming Scott Peterson as Senior Vice President of Global Channel Sales and Mark Dellavalle as Senior Vice President of Global Systems Engineering. Both will report to Chief Revenue Officer Joe Vitalone.

As Senior Vice President of Global Channel Sales, Peterson will be responsible for driving growth in Extreme’s global channel program and partner go-to-market strategy. A proven industry leader with over 20 years of experience in technology sales, Peterson previously served as Chief Revenue Officer at Mitel. Prior, he spent 15 years at Verizon in a variety of roles. He holds a Master of Business Administration from the University of Colorado, a Juris Doctor from the University of Iowa College of Law and a Bachelor of Science in Political Science from the University of Iowa.

“Scott brings the energy, experience and leadership Extreme needs to broaden its portfolio and reach as we transition the company to a SaaS business,” said Joe Vitalone, Chief Revenue Officer at Extreme. “His diverse background as a consultant, sales executive and time at Verizon will greatly benefit Extreme and our partners as we continue to grow market share.”

As Senior Vice President of Global Systems Engineering, Dellavalle will lead the systems engineering team, further strengthening Extreme’s industry-leading team of trusted technical advisors. He joined Extreme in 2019 as part of the Aerohive acquisition and has more than 30 years of experience in systems and sales engineering. Prior to Aerohive, Dellavalle held multiple global leadership roles at Cisco Systems. He holds a technical degree from DeVry Technical Institute in Computer Science and Electronics, as well as several industry certifications.

“Mark’s knowledge of our markets and how to effectively solve customers’ challenges has contributed significantly to Extreme’s success and why we’ve tapped him to drive our systems engineering function forward. His team will play a critical role in helping our customers fully understand the impact that our solutions have on their business,” Vitalone said.

Tinuiti Launches New Omnichannel Performance Influencer Practice

February 2, 2022 Published by Roboticulized.com

Tinuiti, the largest independent performance marketing firm across Streaming TV and the Triopoly of Google, Facebook, Amazon, today announced the official launch of its full-service omnichannel Performance Influencer Practice, a full-funnel solution that delivers meaningful and measurable ROI for brands, specifically by leveraging Influencer Marketing.

Tinuiti, the first independent U.S. agency to earn TikTok’s Campaign Management Badge, is uniquely positioned to help brands utilize influencers across the entire customer journey through its deep suite of media capabilities, exclusive partnerships, and proprietary tech stack. This unique breadth of in-house tools allows for better strategy and tactical activation across the entire funnel to accelerate performance outcomes within a clients’ larger media mix. Tinuiti drives multi-channel distribution plans beyond the post, pushing out Influencer campaigns into Paid Social, OTT, Programmatic, websites, and more.

Led by 15-year veteran Crystal Duncan, SVP, Head of Influencer Marketing, the team will service Tinuiti clients across all aspects of the Influencer journey – from sourcing and vetting talent, to content creation and through to paid distribution and performance measurement. The highly trained team of experts builds data-driven strategies that can be activated against the proper group of Influencers based on brand KPIs.

“Influencers are incredibly effective for brands because they are authentic storytellers who emotionally connect with and are trusted by their audiences. But that is just one piece of the Influencer puzzle. Tinuiti understands the magic in omnichannel integration with other digital marketing tactics and the ability to measure Influencer performance beyond vanity metricsーtruly making it a full-funnel driver. The integration across functions including Social, Affiliate, and ecommerce create a larger amplification in a highly competitive space for brands to grow their business.” – Crystal Duncan, SVP, Head of Influencer Marketing

With the future of Influencer Marketing increasingly having a heavy data and technology focus, Tinuiti is well-positioned with its proprietary, award-winning technology, Mobius, a suite of AI-enabled marketing intelligence and media activation technology.

“As quantitative, tech-driven, data scientists who truly get Influencer, Tinuiti brings precise measurement to bear on our clients’ Influencer campaigns—in other words, exactly the type of analytics that has typically been so elusive for brands looking to gauge the results of their Influencer investments.” – Obele Brown-West, Tinuiti’s Chief Solutions Officer.

Tinuiti steps into the Influencer space with a proven track record of accelerating brand performance for enterprise brands across the entire digital marketing ecosystem. Tinuiti’s creative influencer campaign with Owlet Baby Care brought in significant gains with parents during COVID restrictions.

“With Tinuiti’s influencer program, Owlet was able to go beyond our organic reach and maximize our Influencer content on paid channels. We were happy to see such positive results within our paid campaigns when we combined our organic influencer program with our paid program. The influencer campaigns quickly became some of our higher performing consideration and conversion campaigns.” – Seth Lofgreen, Growth Team at Owlet

The Tinuiti approach to influencer marketing

Going Beyond Vanity Metrics: As quantitative, tech-driven, data scientists, Tinuiti brings precise measurement to your Influencer campaigns—in other words, exactly the type of analytics that has typically been so elusive for brands looking to gauge the results of their Influencer investments.
Filling the Bottom-Funnel Void: Tinuiti bridges the gap between Influencer and bottom-funnel tactics. Unlike most agencies, Tinuiti’s focus is on full-funnel strategy, content distribution, and conversion measurement that also drive results at the bottom of the funnel.
Influencer in Surround Sound: Tinuiti takes a 360-degree approach to Influencer Marketing strategy to create content that can travel across paid, owned, and earned media. The goal is to drive sales from the littlest to the biggest screens by leveraging distribution channels beyond just TikTok, Instagram, and YouTube.
Building Meaningful Relationships: The firm finds influencer voices with the power to impact purchasing decisions due to their authority, knowledge, or relationship with their audience, creates the content that serves as social proof, and then scales that creative product for strategic amplification through owned and paid tactics to increase exposure to relevant audiences. By reviewing success metrics on an ongoing basis, Tinuiti optimizes for the most effective spend on both Influencers and paid media.
Talent, Industry & Platform Agnostic: Unlike others, Tinuti works across the full spectrum of micro-to nano-Influencers to top-tier celebrities. The firm is agnostic across verticals including beauty, sports, non-profits. Tinuiti is platform-agnostic so campaigns can live across a multitude of platforms beyond Social.

The Bank of Namibia Selects SQL Power’s Supervisory Platform to Strengthen Their Commitments to Growth

February 2, 2022 Published by Roboticulized.com

SQL Power, the global leader in financial regulatory and advanced analytics technology is proud to announce that their supervisory platform, the SQL Power Suite, was selected by the Bank of Namibia (BON) as the technology framework to digitally transform the Bank.

The SQL Power Suite is the most robust and compelling Financial Supervisory solution in the World. Delivering the ultimate in regulator flexibility, self-sufficiency, efficiency, and transparency; increasing the likelihood of timely successful intervention while providing all interested parties with the ultimate confidence in the regulated market.

The BON is the country’s central bank with financial supervisory authority, whose role is to promote stability and reliability of the financial system as well as to ensure sustainability, growth, and effective consumer protection.

“The Bank is automating various business processes in three supervisory departments, namely Banking Supervision Department, Payment and Settlement Systems Department and Exchange Control Division. This will assist our teams to work faster and more efficiently and effectively, saving our staff time and improving the reputation of the Bank, as we strive to improve on our service delivery and stakeholder satisfaction goals internally and externally.

The Interdepartmental Project will improve the work environment and place high-tech resources and expert digital skills at our disposal to carry-out our day-to-day activities. This change improves our work environment, improves efficiency, and improves tracking and delegating of responsibilities in our processes.” Leonie Dunn – Deputy Governor of the Bank of Namibia

As regulators struggle to keep up with the accelerating pace of regulatory change, SQL Power’s highly configurable supervisory platform automates every aspect of financial regulation from registration to data collection to on-site examination and investigations; Ultimately future-proofing the Central Bank with a unified and flexible supervisory platform that will satisfy their regulatory requirements for decades to come.

“I am confident that the Bank of Namibia’s digital transformation initiative will be a huge success and will serve as a showcase implementation for all Central Banks in Africa and around the World,” said Sam Selim, President of SQL Power.

Color Star Technology Co., Ltd. (NASDAQ: CSCW) Announces that Thai Construction Company, The Jade to Join Color World, with Smart Technology Opening Up New Possibilities for Real Estate Companies

February 2, 2022 Published by Roboticulized.com

Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as “Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence (“AI”) in the entertainment industry, announced today that Color Sky Entertainment Limited, a subsidiary of Color Star has recently reached a strategic cooperative agreement with The Jade Construction Group (hereinafter referred to as “The Jade”), who will become the first international real estate company from Thailand to join the Color World app. In the future, the two sides will closely cooperate to integrate smart technology into the company’s development and pave a new path for the real estate industry.

The Jade is a comprehensive investment management group, involved in industries such as tourism, construction materials, import/export, Chinese radio, real estate and other wholly-owned companies. The cooperation between the two sides focuses on the real estate industry. Recently The Jade has constructed the largest recreational independent pool villa area in Hua Hin, Thailand, with an estimated investment of USD 60 million. So far, 70 buildings have been completed. As such, The Jade hopes that the rapidly developing online and smart technologies can facilitate the sales of these villas in the global housing market. The partnership with Color Star is considered a win-win.

Color Star currently has a team of some of the world’s best researchers and technology experts, and their independently developed “Color World” app is a combination of technology and artificial intelligence. Previously, Color World has already amassed more than a million users worldwide and the software will be transformed into a metaverse platform following a technical update at the end of this month. This also means that “Color World” will shift focus onto the development of virtual communities and the commercial operation of virtualized real-world products. Through close cooperation, both sides will mutually benefit by leveraging each other’s industry advantages to help each other develop in many areas. This will also hopefully place the two sides further ahead on the global industry ranking. Color Star will construct a virtual headquarter for The Jade, while also utilizing VR technology to vividly display information of properties for sale. Amidst this current pandemic, users can go through the entire house-purchasing process, from viewing to paying, all in VR and without stepping outside their homes. Online real estate sales, user conversion and flow, corporate brand enhancement, etc. will be the focus of the cooperation.

CEO of Color Star Technology, Lucas Capetian said, “There is lots of room for cooperation with The Jade Construction Group due to their profile as an international company with a presence in diverse industries. Smart technology is necessary for The Jade if they are targeting real estate buyers on a global scale. This is because potential buyers will not have to view properties in person, and all they need to do is to register as a member. Through advanced technology, buyers can intimately experience the structure and layout of a property. Through this service, both companies can deepen their understanding of their respective products and make improvements whilst simultaneously promoting their brands. At Color Star, we believe that Color World is a multifaceted platform. It does not matter whether it is real estate or other industries and we will not limit ourselves to one. Furthermore, we want to become a platform filled with variety of contents and products created by our users.”

As the brand new metaverse platform “Color World” features novel contents, Color Star regrets to announce that the latest version of APP is still under review at major App Stores. The company has been in close communication with the relevant App Stores, hoping to pass the review process as soon as possible to introduce the latest App to global users.

Author: Roboticulized.com

Cigna Reports Fourth Quarter and Full Year 2021 Results, Expects Continued Revenue and Attractive Earnings Per Share Growth in 2022

HEALTHRHYTHMS AND UCHEALTH PARTNER TO BRING AI-BASED, PREDICTIVE MENTAL HEALTH PLATFORM TO MILLIONS OF PATIENTS

Greenland Technologies Chooses Cyngn to Bring Autonomous Vehicle Technology to Their Fleet of Lithium-Powered Electric Forklifts

Deliver direct to the door of millions of customers in China with Loqate’s new premium address data set

SearchStax Announces AI-driven Search and Recommendation Capabilities

INKY Completes Email Security Offering with Launch of Outbound Mail Protection

Extreme Networks Bolsters Cloud, Service Provider Expertise with New Global Sales Leadership

Tinuiti Launches New Omnichannel Performance Influencer Practice

The Bank of Namibia Selects SQL Power’s Supervisory Platform to Strengthen Their Commitments to Growth

Color Star Technology Co., Ltd. (NASDAQ: CSCW) Announces that Thai Construction Company, The Jade to Join Color World, with Smart Technology Opening Up New Possibilities for Real Estate Companies

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