IPG Gains Significant Account Control from Cigna's Consolidation

Cigna, a leading managed healthcare and insurance company based in Bloomfield, Connecticut, has consolidated its advertising account across services with Interpublic Group (IPG). This move, announced for the summer of 2023, is set to take effect from July 1.

According to sources privy to the review process, IPG was chosen as the winner of the competitive bidding process, which involved multiple advertising holding companies, including Omnicom and Publicis Groupe. The decision was made following a thorough review process that took place prior to the announcement of the consolidation with IPG.

Under the new arrangement, IPG will be responsible for Cigna's services including creative, data and analytics, and media buying and planning. The consolidation covers services provided globally, as Cigna spent around $180 million on media globally last year, with approximately $170 million of that spending in North America.

The consolidation is a significant move in the advertising industry, marking a key event in Cigna's strategic decision-making process. The CEO of Cigna, David Cordani, officially initiated the collaboration with IPG.

The review process for Cigna's advertising account was a crucial step in the decision-making process for the consolidation with IPG. The information about Cigna's media spending comes from global data consultancy COMvergence.

The consolidation of Cigna's advertising account with IPG is not specified as a merger or acquisition. However, the move is expected to strengthen IPG's position in the advertising industry, providing them with a significant client and a broader scope of services to offer.

This development in the advertising industry is likely to have ripple effects, as other companies may follow suit in consolidating their advertising accounts to streamline their marketing strategies and improve efficiency. The consolidation of Cigna's advertising account with IPG is a testament to the growing trend of consolidation in the advertising industry.