UNION ASSURANCE

RANK 14

NUMBER OF AWARDS 22

SECTOR WINNER

Insurance (3)

Q: Could you outline how Union Assurance’s brand promise is delivered in a unique manner – and what distinguishes it from other service providers?

A: As a company that has been empowering customers to pursue their dreams with peace of mind for over 30 years, Union Assurance has distinguished itself by protecting not only lives but also people’s lifestyles.

We primarily protect customers and their loved ones by providing a financial safety net in unforeseen events, while going above and beyond to protect their health and wellbeing.

Guided by a distinct forward-thinking strategy, we embrace innovation to provide best in class solutions to customers. In addition, our leading position in technology and innovation enables us to infuse customer centricity into the core of our work.

Therefore, we’re distinct as we strive to stay relevant with novel services while also focussing on being futuristic to help customers lead wholesome lives.

Mahen Gunarathna
Chief Marketing Officer

Q: How do awards and accolades enable businesses to strive for betterment – especially in economic turmoil?

A: Awards and accolades provide recognition and legitimacy for a company’s efforts, while highlighting its strengths and triumphs. Such validation is particularly important in gaining customers’ trust in the life insurance sector because the ability to meet or surpass certain standards is reflected through earning awards. Being acknowledged for excellence can help a corporate stand out and attract new consumers in a crowded and competitive sector.

Moreover, achievements are the pride of any company, improving morale and motivation. In economic upheavals, they could help retain top staff and maintain a strong culture.

Q: So how do local awards and recognition schemes fare in comparison to their global and regional counterparts?

A: Regardless of whether an award or a recognition scheme is local or international, the sanctity of the process with regard to transparency and independent evaluations is a crucial element in ensuring it upholds the right values.

Local awards have greater relevance, providing more targeted recognition that is specific to the local community and therefore, could be more meaningful and impactful, whereas global awards enhance credibility by providing wider reach and greater recognition.

The effectiveness and value of awards and recognition among local, regional and global counterparts depend on various factors – including the awarding body’s reputation, and the awards’ scope and criteria, and overall context.

At Union Assurance, we always ensure that we observe the highest standards of transparency and honesty when dealing with awards and accolades – be they local or international.

“Receiving an award could motivate a corporate to strive for excellence and continuous progress. This could help the business… maintain its reputation

Q: What is your assessment of awards and accolades solidifying trust in corporates operating in the financial services industry?

A: Trust and reputation are extremely important to us as a financial institution. Union Assurance has thrived for over three decades owing to the trust and reputation it has earned, and we intend to preserve these qualities in every operation we conduct.

Union Assurance’s recent achievements from notable awarding bodies include accolades for ‘Best Digitizing Life Insurance,’ ‘Best Bancassurance Provider,’ ‘Best New Insurance Product’ and ‘Most Innovative Education Insurance Plan’ in Sri Lanka, and ‘Sri Lanka’s Best Health Insurance Plan.’

Receiving an award could motivate a corporate to strive for excellence and continuous progress. This could help the business stay ahead of the competition and maintain its reputation as a trustworthy brand in the eyes of customers and stakeholders.

Q: How is Union Assurance catering to the changing needs of today’s customers?

A: An in-depth understanding of customers ensures our products and services cater to their evolving needs. Our value creation process is rooted in ensuring that we provide a comprehensive proposition that empowers them.

Our award-winning health proposition Health 360 is a quality demonstration of the products we provide. As a comprehensive insurance cover, it is geared to offer complete protection for customers, and their children and parents simultaneously.

We’ve also been instrumental in reducing complexities and increasing access to life insurance. Through the Clicklife online policy, customers can conveniently purchase a cover worth Rs. 4 million at a minimal daily cost.

Moreover, Union Assurance is a leader in Sri Lanka’s bancassurance development with one of the largest networks in the sector. This is a testimony to our commitment in forging new paths to extend protection for customers.

The Clicklife app is the embodiment of our futuristic strategy to make insurance easily accessible to customers by offering new features. Powered by cutting-edge digital technology, it eliminates the complex and time-consuming process of staying up-to-date with policies post-purchase.

Union Assurance takes pride in being the only insurer to use AI to support customers in detecting their caloric intake and planning meals. Our digitalised reward programme enables them to redeem loyalty points from over 85 merchants. This serves as testimony to the fact that we’re invested in being a lifestyle supporting brand in the sector, going beyond the traditional insurance model.

Telephone 2990990 | Email info@unionassurance.com | Website www.unionassurance.com