Union Assurance, Sri Lanka’s premier Life Insurer, has once again reinforced its leadership in the industry by earning multiple prestigious global accolades. The Company was honoured as ‘Most Innovative Life Insurance Service Provider Sri Lanka–2024’ at the Gazet International Annual Awards; ‘Most Digitally Forward Life Insurer– 2024’ at the Global Brands Magazine Awards and the ‘Most Loved Insurer Brand Sri Lanka–2024’ at the World Economic Magazine Awards. These accolades reflect Union Assurance’s unwavering commitment to transforming Sri Lanka’s Life Insurance sector through innovation, technology and exceptional customer service.
The Chief Executive Officer at Union Assurance, Senath Jayatilake, stated, “At Union Assurance, we are dedicated to supporting the unique journeys of every individual by empowering them with the strength and confidence to progress. This commitment drives us to design and deliver solutions that enrich the holistic well-being of our customers”.
“These awards are a reflection of the hard work and dedication we put into continuously innovating and improving every aspect of our service. We are truly honoured to be recognised for our excellence and these accolades inspire us to keep pushing the boundaries of the Life Insurance landscape, striving to deliver even greater value for our policyholders and society as a whole”, he further added.
Union Assurance has long been recognised for its forward-thinking approach to Life Insurance, consistently setting new benchmarks within the industry. A standout embodiment of Union Assurance’s innovative spirit is the Clicklife App, Sri Lanka’s most comprehensive Life Insurance application. Powered by cutting-edge technology, the app has transformed the user experience, enabling policyholders to manage their Life Insurance policies seamlessly via smart devices. With advanced features designed to promote user well-being, such as an AI-driven calorie counter and a fully digital rewards system, the Clicklife App continues to break new ground in the sector. As the latest addition to the app, Union Assurance introduced its Digital Loyalty Rewards programme, which is also the first of its kind in the sector. Through this programme, customers can earn millions in rewards by adopting active lifestyles, all while ensuring their financial well-being and that of their families.
Union Assurance has also pioneered several other groundbreaking initiatives, including financial underwriting automation, a first not just for Sri Lanka but for Asia as well. In collaboration with Munich Re, this innovative solution evaluates financial backgrounds and risks, delivering tailored coverage solutions for individuals. Additionally, the Company has revolutionised the medical examination process with its e-MER (Electronic Medical Examination Report) and digital medical records initiative, cutting policy issuance time from several days to just 15 minutes, significantly improving efficiency and customer satisfaction.
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 3000-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.
