Pioneering Breakthroughs Win Global Acclaim for Union Assurance
Continuing its legacy of excellence, Sri Lanka’s Life Insurance trailblazer Union Assurance has won four renowned global awards. These accolades by the Global Business Magazine recognize the Company’s industry-leading achievements in innovation and digitization. The awards are presented annually to business innovators, market disruptors, and leaders from a range of industries across the world.
The awards won by Union Assurance were Best Digitizing Life Insurance Sri Lanka 2022, Best New Insurance Product Sri Lanka 2022, Most Innovative Education Insurance Plan in Sri Lanka 2022, and Best CSR Insurance Company Sri Lanka 2022.
The Chief Executive Officer of Union Assurance, Jude Gomes described the accolades as a triumph for their customer-centric strategy. “With an unwavering focus on offering the best, we surpassed customer expectations through innovation and service excellence,” he asserted.
According to Mr. Gomes, earning acclaim from a prestigious publication like Global Business Magazine requires a truly visionary outlook. He noted that Union Assurance led the field in this regard as it is a futuristic, digitally-driven company. “We have transformed Life Insurance in Sri Lanka through innovative solutions, and have digitized our capabilities to greatly enhance the customer experience,” he added.
It was the Company’s technology-driven strategy that bagged the award for Best Digitizing Life Insurance Sri Lanka 2022. This offered a seamless digital experience that took user-friendliness, convenience, and accessibility to new heights. It largely revolved around the Clicklife digital app. Clicklife revolutionized Life Insurance servicing in Sri Lanka, empowering customers to easily manage their insurance through mobile devices.
The award for Most Innovative Education Insurance Plan in Sri Lanka 2022 was won for Sisumaga+. This product was uniquely designed to boost the potential of Sri Lankan students by ensuring uninterrupted education. Sisumaga+ provides a customizable education fund that grows continuously with an annual interest paid by the Company as monthly dividends towards the fund balance and a loyalty bonus of 15% paid at maturity.
Another triumph for Union Assurance was bagging the award for Best CSR Insurance Company Sri Lanka 2022. This accolade was for a series of far-reaching initiatives during the pandemic. In line with the Company’s pledge to support national development, CSR programmes were launched in the core areas of health, education, and the environment. Notable among these was a co-branded campaign with the Ministry of Health. It greatly succeeded in raising public awareness about protection from the virus. The Company also donated vital medical equipment including high flow oxygen machines, emergency trolleys, video laryngoscopes, and ventilators.
Union Assurance is a part of the John Keells Group, one of Sri Lanka’s largest listed conglomerates. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalization of Rs. 17.3 Bn, a Life Fund of Rs. 49.8 Bn and a Capital Adequacy Ratio (CAR) of 228% as of December 2021. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, investment, protection, and retirement needs of Sri Lankans. With an Islandwide branch network and over 3,000-strong workforce, 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.