Motor Insurance in today’s context - The Success story of Orient Insurance’s Motor Insurance Business.

Commencing operations in 2011 and celebrating its 10th Anniversary in 2021, Orient Insurance has sustainably grown its portfolio, customers and dominance in Sri Lanka and is considered as one of the fastest growing General Insurance companies in Sri Lanaka. Spearheading this growth is the Motor Insurance business

 As we all know Sri Lankans are vehicle enthusiasts who showcase great pride in taking optimum care of their vehicles. Senior Vice President Strategy and Operations Mr. Ameera Hindurangala who leads the Motor Insurance business feels the success of this business is mainly attributed to the fact that everyone at Orient Insurance feels the same passion and pride in everything they do, whether it is providing an insurance cover for a vehicle or settling a claim. He further stated that, “Our Philosophy is simple. Its upholding the trust and confidence of our valued customers, business partners and the general public have placed on us. Therefore, in our day-to-day life at office the terminology used is - Lets listen to our customers, they have a story to tell - meaning our genuine intentions are to listen to our customers and be of assistance to all who have placed their trust and confidence in us.”

Along with trust comes ease of doing business, where all customer transactions are expeditiously processed and settled.  All that is required by a new or existing customer is a phone call/text or email to either insure their vehicles or report a claim. Their 24x7 Customer Care Centre will professionally handle all inquiries and ensure a speedy solution is provided. The current Pandemic situation has caused immense hardships to the economy and to the way of life where income levels have been challenged, therefore Orient Insurance is aware of all these implications and will listen to you and ensure you have adequate protection for your precious vehicle at a price that you can afford.

The above philosophy has ensured that more than 90% of Orient Insurance’s customers renewed their policies and this in turn supported the company’s growth trajectory with a 10% increase in its first quarter against the same quarter last year, with motor recording an 18% growth. This too despite the import’s restrictions on Motor Vehicles and the global pandemic.

Being one of the newest entrants to a highly competitive Insurance industry in Sri Lanka, the Senior Management at Orient Insurance have embarked upon a strategy to take insurance closer to the doorsteps of every Sri Lankan and increase the penetration levels which at present is low.

At the outset of the pandemic and the very first day of a nationwide lockdown #Strongerthan Corona was born and trended across their business, this # was a call to action for all staff members to gather around to overcome the challenges posed by this pandemic to the world, the country, business, and customers. The company’s Motor Insurance business completely shifted gears and went into digital operations where customers were advised to be safe and “stay at home” whilst the dedicated staff managed their insurance needs expeditiously by providing a 24x7 seamless service.

The dedication and commitment of the Motor Insurance staff, Engineers and Island-wide assessors, ensured the continuity of a seamless level of service to their customers, business partners and stakeholders, at their hour of need. All this was done whilst prioritizing the health of all employees and customers, and the well-being of the community.

The CEO, Mr. Tanuj Edward commenting on the success of Orient’s motor insurance business commented that he is very pleased with the Company’s Motor Insurance Management and its Team as they modeled the business around the Company’s values of (RICE) Respect, Integrity, Collaboration and Excellence in all business processes. These values combined with the genuine care and passion of its employees, have greatly contributed towards building customer’s trust and confidence in Motor Insurance. He further stated that he is proud of the Company’s record of expeditious settlement of all admissible claims, service to customers.

Orient Insurance continuously evaluates and assesses the customers’ requirements and feedbacks which are closely monitored to the satisfaction of the clients towards improving the existing service channels in providing a superior service in this highly competitive environment.

The company had invested significantly and is currently working on enhancing its systems to further strengthen their serve to clients, and to bring Ease of doing business with Orient Insurance through Technological enhancements which is one of their key priorities for this year.

Backed by the Parent Company Orient Insurance PJSC, the No 1 General Insurance company in the Middle East, and with very strong financial ratings of “A Strong” from Standard & Poor, and “A +” from AM Best (the highest rating in that region).

The company asserts that one of their strongest assets are its people, who constantly strive to provide their clients and business partners the highest level of service. Orients team of well-trained staff and management possess the proven caliber and experience spanning many decades in the insurance sector.

Mr. Rochana Kulathunga, Senior Vice President – Distribution and Marketing commented that one of the key componants of their success is the dedicated and dynamic team, who in these turbulent times ensured  the needs of all customer and business partners were taken care of, despite the pandamic challenges. It is the the company’s objective to increase the penetration of Insurance in Sri Lanka and take insurance closer to the doorstep of every Sri Lankan, and to provide a superior service to their clients and partners at their hour of need. Towards achieving these objectives, they have expanded the Branch network which now cover key destinations of the Island.

Whilst the company hopes and prays for the speedy elimination of this pandemic, they do urge all citizens of the Country to adhere to all the Health guidelines towards ensuring their safety and the total elimination of this pandemic. Whether you are an existing client or a new customer, desirous of availing their services towards your insurance requirement please feel free to contact them through the 24-hour hotline. You are assured of an expeditious service which you could enjoy from the comfort of your home.

Along with the strength of a multinational, Orient Insurance Sri Lanka is fully compliant with the solvency requirements of the regulator. The company believes that the core of their business is the “customer” and persistently strives to win loyalty and Trust through a “superior service”.

Employees are considered invaluable and the company assists and encourages them to grow and realize their fullest potential. With this dual commitment in place, Orient Insurance is driven by its inherent values of Respect, Integrity, Collaboration and Excellence, making it one of the fastest growing Insurance companies in Sri Lanka.