Union Assurance Crowned Best Life Insurer at 5th Emerging Asia Insurance Conclave & Awards 2024

Union Assurance, Sri Lanka’s premier Life Insurer, emerged as the ‘Best Life Insurance Company in Sri Lanka’ at the 5th Emerging Asia Insurance Conclave & Awards 2024. Organised in Bangkok, Thailand by the Indian Chamber of Commerce (ICC), the prestigious event celebrated the efforts of leading insurance companies across Asia in driving innovation, sustainability and the affordability of Life Insurance products.  This coveted recognition underscores Union Assurance’s unwavering commitment to transforming Sri Lanka’s Life Insurance sector by leveraging cutting-edge technology and delivering best-in-class customer-centric solutions.

Commenting on the achievement, Senath Jayatilake, the Chief Executive Officer at Union Assurance, stated, “At Union Assurance, our operation extends beyond providing Life Insurance to catalysing economic and social progress for the collective advancement of our nation. By embracing innovation and strengthening our digital capabilities, we are committed to making Life Insurance accessible to all, delivering top-tier solutions that meet the protection needs of our customers and their families”.

“This award reaffirms our promise to continue transforming the Life Insurance industry while empowering the communities we serve. With a legacy of excellence and a forward-thinking approach, Union Assurance continues to lead the way in providing financial protection that is inclusive, simple and accessible to all Sri Lankans,” he added.

A standout embodiment of Union Assurance’s spirit of excellence is the Clicklife App, Sri Lanka’s most comprehensive Life Insurance application.  Powered by cutting-edge technology, the App has revolutionised the user experience by enabling effortless management of Life Insurance policies via smart devices, with a host of innovative features aimed at enriching user well-being. The Clicklife App integrates many first-of-its-kind innovations introduced to the industry, including an AI-driven calorie counter, a fully digital rewards system allowing customers to accumulate rewards and redeem them at a vast network of over 100 merchants and a digital loyalty rewards programme offering all customers an opportunity to earn rewards worth millions.

The Company’s latest initiative included introducing mobile app-enabled Life Insurance solutions–another first in Sri Lanka. With Union Assurance’s Clicklife App, customers can now purchase Life Insurance policies directly from their mobile devices by answering just a few simple questions, marking a monumental milestone in the sector and paving the way for a more accessible, streamlined and fully digital Life Insurance experience.

Union Assurance is a subsidiary of John Keells Holdings PLC (JKH), the largest conglomerate listed on the Colombo Stock Exchange, operating with over 80 companies in 7 diverse industry sectors. The Company has completed over three decades of success with a Market Capitalisation of Rs. 27.8 Bn and a Life Fund of Rs. 74.7 Bn as of end September 2024. Set to protect lives and enrich the well-being of all Sri Lankans, Union Assurance offers Life Insurance solutions that cover the health, investment, protection, retirement and education needs of Sri Lankans. With an island-wide branch network and a workforce that is over 4300 strong, Union Assurance continues to invest in people, products and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.