Sri Lanka Insurance Corporation (SLIC), the country’s largest state-owned insurance provider, established in 1962, has played a pivotal role in providing comprehensive insurance solutions. Over the years, SLIC has developed a robust financial standing and customer-centric approach. SLIC embodies trust, reliability and a commitment to customer satisfaction. With a rich trajectory and strong financial standing, the organisation is recognised for offering comprehensive insurance solutions that provide peace of mind and financial security to individuals, families and businesses alike. Beyond its business operations, SLIC actively participates in corporate social responsibility initiatives, contributing to the betterment of society.

Q: How important is it for businesses to uphold corporate respect in times of crisis – especially amidst an economic crisis?

A: Corporate respect is vital in difficult times. This is the ideal period to put what we preach into practice and withstand the challenging external environment without compromising on corporate values. With changes in the external environment, organisations must be responsive and adapt immediately.

SLIC underwent numerous internal and external digital reforms to meet client expectations. Organisations therefore, must be sensitive to customer needs. Entities that can withstand turbulent times while focusing on customers – and at the same time, create value as customer needs evolve – will be successful in upholding corporate respect.

Q: What importance should corporates place on innovation as a means of garnering respect?

A: As an organisation that believes in continuous growth, innovation and change are the only constants. It’s our obligation to invest consistently in technological advancements, R&D and data experiments, which can support us in introducing relevant products and services.

We promote innovation and transformation in the business as part of our organisational culture. Numerous forums have been established for employees to offer creative suggestions for product advancements and process improvements.

These forums are directly tied to our corporate strategy development teams that take into account all proposals. By offering the best solutions to meet our customer needs, and ensuring their convenience and satisfaction, we make sure that we respect our internal talent and the demands of those we serve.

Q: How do you contribute to social causes beyond the core business?

A: SLIC’s CSR strategy has a direct link to its business to ensure the sustainability of our projects. This strategy focuses on child education, community development and upholding local culture for future generations.

‘Pasal Piriyatha’ is an infrastructure development project for underprivileged schools to ensure a positive learning environment – with 3,265 schools benefitting. The ‘Suba Pathum Scholarship’ programme is another initiative focused on children who excel at the Scholarship, and O and A-Level examinations, which has awarded 1,800 scholarships to students.

In commemoration of World Children’s Day, SLIC last year provided a free life insurance cover worth Rs. 1 million for parents of all children born on 1st October. Furthermore, ‘Call to Donate’ was organised under community development that aims to raise awareness on cancer prevention.

As part of this initiative, SLIC donated essential medicines and equipment, and facilitated the construction of two isolation units at the Apeksha Hospital’s Paediatric Ward. We also focused on traditional processions by providing accident covers and vehicle breakdown assistance, irrespective of whether or not an individual is a policyholder.

A main CSR calendar event, which has been in operation for over 30 years, is the support we render to devotees visiting Anuradhapura during Poson.

Q: How does respect in the workplace help nurture admiration for an organisation as an employer of choice?

A: People are our most important asset. With a large number of employees from diverse backgrounds, we take great pride in our people. Mutual trust and respect are shared values that are practised across all levels.

Respect at SLIC is endorsed through a workplace culture of diversity, inclusivity and equality. We pledge to ensure fair treatment, transparency, full participation of all individuals in business activities, non-discrimination and zero tolerance of workplace harassment.

Employees are also encouraged to voice grievances while we resort to the best course of action. Respect is a two-way street; and this is part and parcel of our DNA, which in turn, leads to employees becoming your own brand ambassadors.

SLIC has established itself as a brand with main attributes of honesty, adopting a national perspective by aligning corporate goals to the economic agenda and strong human resources practices. By prioritising honesty, aligning to the national agenda, swiftly adapting to crises and recognising the value of stakeholders, SLIC has built a strong image that instils trust and confidence.

QUICK-FIRE ROUND

Three priorities for Sri Lankan corporates today
Customer satisfaction through convenience
Digital transformation
Employee retention

Three most vital professional values for business leaders
Empowerment and development
Resilience
Empathy

Telephone: 2357357 | Email: email@srilankainsurance.com | Website: www.srilankainsurance.com