Search results
Sri Lanka Insurance Corporation
- We are Sri Lanka Insurance Corporation, the largest state-owned insurer in Sri Lanka anchored to a pioneering legacy of financial stability and trust spanning over six decades.
www.srilankainsurance.com/en/about-us
People also ask
Who is the largest state-owned insurance company in Sri Lanka?
Is Sri Lanka a good insurance company?
When was Sri Lanka Insurance incorporated?
What happened to Sri Lanka Insurance Corporation?
Here are the top 10 insurance companies in Sri Lanka, based on the latest statistics: Sri Lanka Insurance Corporation (SLIC) : Leading the market, SLIC reported a combined Gross Written Premium (GWP) of LKR 43 billion in 2021, with significant contributions from both life insurance (LKR 21.9 billion) and general insurance (LKR 21.2 billion) .
We are Sri Lanka Insurance Corporation, the largest state-owned insurer in Sri Lanka anchored to a pioneering legacy of financial stability and trust spanning over six decades.
Sri Lanka Insurance Corporation Limited, also known as Sri Lanka Insurance is the largest and strongest composite insurance provider in Sri Lanka. It is the first and only insurance company in Sri Lanka to be assigned a prime AAA− rating for Insurance Financial Strength from the US rating agency Fitch Ratings New York City.
- Who hasn’t asked at some point,
- Insurers responding to COVID-19 -but is there more to do?
- Crisis driving innovation and change
- Digitization, data, personalization on the rise
- Distribution must digitize too
- Regulators are more and more interested in change
- Recognizing the value of a connected enterprise in insurance
- The status quo isn't working
- Brand
- Product/Services
- Interactions
- People
- Starting off on the right foot
- So, what can insurance companies do to start off on the right foot? Here is a holistic five-step approach that insurers can take into account:
- Worth the investment
- COVID-19
- Drill down in a few areas of insurers experiencing challenges
- Learning the lessons - the 5 C’s
- A distributed model with smaller, nimbler teams
- The remote management challenge is key
- Managing costs, ensuring compliance
- An opportunity to embrace the future now
- INSURANCE MARKET
- Chief Executive Officer Sri Lanka Insurance Corporation Ltd
- The Age of Biology
- Biology has left the lab
- Balancing biology and economics
- Health and safety concerns
- Product innovation
- Workforce change drivers
- Workforce archetypes
- Remote working becomes more permanent
- Access to talent
- High volume workforces
- Oscillating models
- New core competencies
- Cost, continuity and resiliency
- AI and automation
- Scenario planning
- Capital, liquidity and cost
- Navigating uncertainty
- Solvency ratios
- Liquidity
- Investments
- Climate risk as a core business issue
- New thinking on ESG
- Role of the insurance industry
- New products and business opportunities
- Invest for growth
- Leapfrog
- Innovation at scale
- Outsourcing to drive innovation
- Partnerships
- Modern technology infrastructure
- Digital transformation is accelerating
- Customer-first thinking
- Data
- Technology and infrastructure
- Claims
- IFRS 17 implementation in four phases: overview
- Least advancedattribute:
- Where are the leaders?
- Most advancedattribute:
- Where are the leaders?
- Least advancedattribute:
- Where are the leaders?
- What could work better
- Where are the leaders?
- Our Impact Plan
- Governance
- Our commitments
- Prosperity
- KPMG Service Offerings
- Audit
- Deal Advisory
- Tax
How will this pandemic affect me and my family? How will it affect our lives? Our jobs, education, graduation, birthdays, anniversaries, vacations, social lives? And then: Our finances? Savings? Retirement? To ultimately wonder, Are we sufficiently prepared to get through this? Do we have the protection we may need? Insurance is fundamentally abo...
Insurers have significantly increased their communication with customers - and shown a commendable degree of proactive customer-driven support. The digital transformation within insurers have offered more opportunities to interact with customers. There have been examples in numerous countries of insurers offering rebates on motor insurance given de...
As a result of the situation surrounding COVID-19, there is a unique opportunity for insurers to rethink and innovate as they adjust and respond. First, there may be a need for new products. There has already been some fascinating early stage thinking in some insurers about products that would be payable in the case of pandemics or epidemics. The c...
Perhaps the most significant changes will be in the way that insurance products are sold, serviced and the usage of customer data. These changes will lead to much greater levels of personalization and so change the customer experience and value proposition. Insurance has long struggled with the fact that it is not as personalized as other products....
Better digitization and use of data will be key to this transformation – and in insurers’ distribution channels, digitization will also be a key theme. While the direct-to-consumer (DTC) market varies greatly by country and by region, insurers have already started to explore or re-open conversations around pursuing a more omnichannel approach in re...
All of this then creates an opportunity to work even more closely with regulatory bodies. There is a need for insurers to work with regulators to ensure that regulations are helping not hindering this unprecedented opportunity to drive change in an industry that has traditionally been very slow to adopt in these areas. Recently, the ASIC/APRA (Aust...
Today, insurance companies aren't just competing with traditional insurers - they are competing with everyone. As customers embrace the omnichannel and personalized experiences being offered by the likes of Apple, Amazon, Google, and a myriad of digital start-ups, they are beginning to demand those same experiences from everyone they do business wi...
Historically, many insurers organized their operations around products (e.g. life, automobile, general), each with a different look, organizational structure, and supporting technology. The challenge with this model is that it is very fragmented. A customer that has multiple products with a company might need to call three different numbers in orde...
Product, Pricing & Customer Strategy Experience Centricity
Responsive Supply Chain Partnerships, Alliances & Vendor Mgmt.
Advanced Date & Analytics Technology Architecture & Enablement Seamless Commerce
Organization Alignment & People Capability Most insurance companies understand the need to make big changes. According to a recent survey, 75% of insurance companies are making moderate to significant investments in one or more of the capabilities required of a connected enterprise. Of the eight capabilities underpinning a connected enterprise, the...
The transformation into a connected enterprise is a complex journey, one that can hold many obstacles for companies that are unprepared
Gather rich customer insights: Before making changes, insurers need to develop a better understanding of their customers - their intent, purchasing behaviours, interactions, and most critical touchpoints. Develop products and services entered around customer needs: Rather than looking to match products with customers, insurers need to develop innov...
While shifting customer demand, increasing competition, and technology innovations are key drivers pressuring insurance companies to become connected enterprises, there are strong financial reasons to transform as well. In fact, companies that invest in becoming a connected enterprise have seen a two times overall return on their investment across ...
.With the spread of COVID-19 right across the world, we're all doing it now. Whether it's from a spare room or the kitchen table, we're working from home, connecting with colleagues through video conferencing calls, and learning to do things differently. Like every other sector, the insurance industry is in the thick of it. It's learning fast, adap...
While many insurers are generally handling the remote working well, there are a few areas that have experienced more challenges than others. These would be ripe for improvement opportunities moving forward. Examples of some of those areas include: Human resources, given the need for EE hyper-care Call centers due to the increased activities around ...
What has been learned so far and how are insurers approaching the challenge at hand? It helps to look through the lens of what KPMG calls the Talent Risk Framework, which sets out five key areas that are critical to managing and equipping a workforce in times of crisis or significant change. These are “The 5 C's” which are: Capacity: Are there suff...
The deeper challenge is to manage the remote workforce in order to achieve the right capacity in the right areas. This has already manifested itself in the huge spike that many insurers have experienced in inquiries and claims for travel and health cover, as an example, while other areas (such as motor) have declined. So businesses need the flexibi...
In today's circumstances, it becomes essential to manage the capabilities of the remote team effectively. Do team members understand what the priorities are right now; do they have the tools they need; are the processes and protocols in place to help and guide them; is there sufficient structure to their working day? It is certainly true that remot...
This latter is part of the cost equation - and of course it is essential to establish a true picture of the costs of running the remote workforce compared to normal baseline costs. Some businesses may also be considering, or have implemented, measures such as unpaid leave, part-paid leave, or the furloughing of some staff. These are not easy measur...
These are times of great change that have been thrust upon the industry. Those insurers that grasp the challenge and leverage fully flexible ways of working will position themselves for a new future. Those that don't invest sufficiently in enabling more digital workflows and that don't design new processes and tools to suit will fall behind and fin...
in Sri Lanka Through risk prevention and risk reduction and by sharing risks insurers help protect society, foster innovation and underpin economic development. Sri Lanka’s insurance industry has a vital role in managing Sri Lanka’s social security risks. This social security gap, which is growing wider every year, has to be bridged by the country...
Properties, general public and economies with high insurance penetration recover much more quickly after a natural disaster or accidents than properties and general public that rely on government for their recovery. We are on the vanguard of inculcating the benefit of insurance to the general public. Hence regulatory bodies and government plays a p...
Building organizational immunity across biology and economics
Biology is playing an important role in the C-suite, the board room and throughout the workplace. Health is now becoming a core competency across all organizations.
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
A business’s approach to tax is increasingly subject to public scrutiny and is now a major reputation driver. From company set-up to cross-border and transfer pricing solutions, we work with awide range of national and multi-national organizations to deliver effective tax solutions. Our tax professionals combine international experience with local...
Click on the name of the insurance company of your choice from the list of insurance companies provided here to choose the insurance product that you require to mitigate your personal and corporate risk.
Name Of InsurerClass Of InsuranceEffective Date Of LicenceAIA Insurance Lanka LtdLong Term InsuranceDecember 16, 1987Allianz Insurance Lanka LtdGeneral InsuranceJanuary 1, 2015Allianz Life Insurance Lanka LtdLong Term InsuranceJuly 1, 2008Amana Takaful Life PLCLong Term InsuranceJanuary 1, 2015Sri Lanka Insurance Corporation Ltd Annual Report 2022 5 FINANCIAL REPORTS ABOUT US LEADERSHIP REVIEWS REPORT PROFILE STRATEGY AND FOCUS MANAGEMENT COMMENTARY GOVERNANCE AND RISK OVERSIGHT SUPPLEMENTARY INFORMATION We are the largest state-owned insurer in Sri Lanka, also the pioneer insurance Company, with a history of over six decades.
Jan 26, 2022 · In 2021 Sri Lanka Insurance reported 14 % growth in life insurance premiums to Rs. 21.9 billion, whilst general insurance reported 5.4% growth in premiums to Rs. 21.2 billion amidst stagnant market conditions. The company achieved a combined GWP growth rate of 9.7% during the year.
