MOST AWARDED PROFILE
HNB ASSURANCE AND HNB GENERAL INSURANCE
RANK 27 | 74
NUMBER OF AWARDS 14 | 5
Q: How important are awards as a benchmark of success?
Lasitha Wimalaratne (LW): In life assurance, we sell an intangible promise; hence, the most important factor is the long-term relationship we maintain with the customer and the stability of the company. Awards assure the public that our company has credibility and stability in terms of capital adequacy and channel diversification.
For instance, HNB Assurance won the Best Life Insurance Company of the Year – Special Recognition Award at the 3rd ICC Emerging Asia Insurance Awards organised by the Indian Chamber of Commerce, a testimony to our focus on excellence, compliance and trustworthiness.
Chief Executive Officer – HNB Assurance
Sithumina Jayasundara (SJ): Awards reinstate the good that businesses do. For instance, HNB General Insurance was recognised by the Global Banking & Finance Review as the Best Insurance Company Claims Management Team – Sri Lanka in 2022.
As an insurance company, we have not publicised our commitment to paying claims since it is not marketing material but our core business. So it has been heartening to see our commitments recognised and our efficiencies commended on a global stage.
Q: How do awards schemes help attract and retain talent?
LW: Having been ranked amongst the Top 50 Best Workplaces in Sri Lanka by Great Place to Work, we were also among the 70 Best Workplaces in Asia 2022 under the large size category. This signals to prospective employees that we are a company that cares for its people, and their career aspirations and holistic wellbeing.
SJ: The prevailing migration is significantly draining Sri Lanka of young talent. HNB Assurance and HNB General Insurance have retained the majority of our employees due to our strong culture, which binds us together. We have a culture of support and growth potential where employees’ development is aligned with the company’s growth.
Being recognised further assures employees of this career growth potential, and has also helped us to instil a culture where we perform, win and celebrate our achievements.
Chief Executive Officer – HNB General Insurance
Q: How can awards help position local corporates to compete on the world stage?
LW: We are a growing company with a commendable track record of being the best in terms of quality, service, products and performance. We are passionate about fulfilling our promises and delivering value to customers, which makes us stand out. Awards have solidified this standing and taken our brand name global.
SJ: Firstly, it is very important to position Sri Lanka positively to the world especially when the prevailing crisis has labelled our country very adversely in world media. Winning awards that prove our mettle is our way of doing damage control – to show the world that Sri Lankan corporates have the power to meet global standards.
Q: What is your take on the ability of smaller businesses to compete with larger organisations through such schemes?
LW: Size doesn’t matter when it comes to a business’ ability to perform. Although HNB Assurance is a Tier 2 company, we have what it takes to compete neck to neck with larger players.
Backed by our parent company HNB and fuelled by our track record of excellence, we won the National Service Sector Gold Award in the Extra-Large Category for Industrial Excellence at the Ceylon National Chamber of Industries Awards 2022 organised by the Ceylon National Chamber of Industries (CNCI). We also produced 194 Million Dollar Round Table (MDRT) qualifiers in 2022 and ranked among the 70 Best Workplaces in Asia.
“It is very important to position Sri Lanka positively to the world especially when the prevailing crisis has labelled our country very adversely in world media
Q: How do awards play a role in attracting and retaining customers?
SJ: Awards give us the impetus to continue our commitment to customers.
In general insurance, the last two years were difficult due to macro challenges. For instance, motor insurance customers had to wait months for spare parts due to import restrictions. Yet, we maintained transparent communications and strengthened the relationships with our customers and service network. Our net promoter score (NPS) is over 80 per cent because our customers trust us and they know that we are doing something better than others.
LW: We were recognised as the Best Bancassurance Provider in Sri Lanka in the Global Banking & Finance Review for the third consecutive year this year and our health insurance product Supreme Health Max was recognised by Insurance Asia Magazine as the Health Insurance Initiative of the Year at the 2021 Insurance Asia Awards. Winning awards such as these ensures customers that we are an ideal partner for them to invest with in the long term.
Q: What are your future plans for the organisation?
LW: We have ambitious growth plans, which include increasing our market share to 10 percent and being among the top three insurance companies in the country based on performance. For this, we are in the process of expanding rapidly to cater to our customers with innovative products delivered with world-class standards.
SJ: We have launched our growth plan encompassing five pillars: creating a collaborative culture in the company; instilling technology driven transformation; augmenting our products and services to serve unmet needs of niche market segments; enhancing our network to penetrate local and global markets; and ensuring highest levels of governance to position ourselves as a leading company in environmental, social and governance (ESG) practices.
Telephone 4793700 (HNB Assurance) | 4677066 (HNB General Insurance) | Email customer.care@hnbassurance.com | info@hnbgeneral.com | Website www.hnbassurance.com | www.hnbgeneral.com
