PROFILE

Union Assurance

Q: Union Assurance is among the ‘top 100’ most valuable brands in Sri Lanka for the 15th consecutive year. Is there an overview of the journey?

A: With a rich operational history spanning over 30 years, Union Assurance has been dedicated to empowering Sri Lankan dreams since its inception in 1987.

As a responsible life insurer, the company has played an integral role in protecting the lives and lifestyles of its customers with a diverse range of life insurance solutions in investment, protection, retirement, education and health.

Over the years, the company has consistently prioritised safeguarding the wellbeing and financial security of Sri Lankans, ensuring their needs are met throughout all stages of life.

Union Assurance is honoured and humbled to be recognised as a reliable and trusted partner. This remarkable achievement of being among the ‘top 100’ most valuable brands in Sri Lanka for the 15th consecutive year is a significant milestone and a true testament to Union Assurance’s unwavering commitment to delivering outstanding performance.

We extend heartfelt gratitude to our customers and stakeholders for their continuous support and confidence in the company.

Q: How has Union Assurance utilised social media platforms to enhance its brand presence and engage with its target audience?

A: Union Assurance has recognised the evolving media landscape in Sri Lanka where traditional platforms such as TV, radio and newspapers in vernacular languages continue to have high consumption.

With the rapid proliferation of the internet and smart devices however, media patterns have been shifting. In the early 2000s for instance, there were only a few major social media platforms like Facebook and YouTube available.

With technological advancements and changing user pre-ferences since then, there has been a significant increase in the number of social media platforms, leading to media fragmentation and high user activity. This has also resulted in the growth of microsegments where individuals form smaller, specialised communities based on their interests and preferences.

In Sri Lanka currently, 32 percent of the population are active social media users. Understanding this context and adapting to this changing environment, the company took early and proactive steps to establish its presence on social media platforms.

By consistently building and optimising its social media channels, Union Assurance has been able to stay relevant and provide valuable content to its target markets.

We remain focussed on continuing our efforts in engaging with target audiences through social media to enhance the brand’s presence as a trusted partner for life.

Q: What is Union Assurance’s approach to engaging with new-age customers, particularly ‘gen Z’?

A: Extensive research and analytics conducted over the company’s operational history have revealed that the core audience is gradually transitioning, necessitating a focus on the emerging gen Z segment.

To effectively engage with the future core audience, Union Assurance places great importance on uncovering their unique needs and preferences, and we understand that new-age customers have distinct characteristics and expectations compared to previous generations.

As a forward-thinking brand, we constantly reevaluate our communication strategies, advertising avenues and methods of engaging with target markets. Through our strategic initiatives and a customer-centric approach, Union Assurance aims to create meaningful connections and provide tailored solutions that resonate with the aspirations of new-age customers while aligning with the needs of the current customer base.

Q: How does Union Assurance envision ‘future-proofing’ its brand in Sri Lanka’s ever evolving insurance sector?

A: One of the key strategies Union Assurance employs to future-proof the brand is a strong focus on digitalisation.

Understanding that the new generation landscape is increasingly shifting to digital platforms, the company aims to redefine and reimagine the customer experience in life insurance. By embracing digital technologies, Union Assurance strives to provide convenience, empowerment and enhanced engagement to customers.

An example of Union Assurance’s commitment to digitalisation is the ‘Clicklife’ app. Serving as a central ecosystem in the organisation, the app offers customers a seamless experience in managing customers’ life insurance needs. The Clicklife app is also constantly evolving with novel features and functionalities, aligning with customer preferences and the sector’s changing demands.

Telephone 2990000 | Email info@unionassurance.com | Website unionassurance.com