Pioneering breakthroughs secure global acclaim for Union Assurance | Daily FT

Continuing its legacy of excellence, Union Assurance has won four renowned global awards. These accolades by the Global Business Magazine recognise the company’s industry-leading achievements in innovation and digitisation. 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 Digitising 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.  

CEO 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 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 digitised our capabilities to greatly enhance the customer experience,” he added.

It was the company’s technology-driven strategy that bagged the award for Best Digitising 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 revolutionised 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 customisable 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 programs 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 capitalisation of Rs. 17.3 billion, a Life Fund of Rs. 49.8 billion and a Capital Adequacy Ratio (CAR) of 228% as of December 2021.