Declared Asia's most Innovative Insurance Company for the second time. - 2007-08-20
August 10, 2006 - Ceylinco Insurance, the leading insurer in Sri Lanka, was Crowned the most innovative insurance company in Asia for 2006, for its ground breaking 'One and Only' insurance policy.
'Ceylinco Insurance - General Division with its innovative product 'One and Only? Impressed the 22 member panel of judges, drawn from regulators, industry and association leaders from the Asian and global markets, at the 10th Asia Insurance Industry Awards 2006, held at the Empire Theatre in Brunei recently. The Judges in their review said, "Ceylinco Insurance has long been regarded as one of the more innovative players in the market place and with the launch of its ?0ne and Only' insurance product, it is clear that the company is continuing this tradition." The Asia Insurance Awards, considered the Oscars of the Insurance world, are jointly organised by the Singapore-based Asia? Insurance Review and London-based The Review, to honour Asia's finest in the insurance industry.
Most, if not all global players, through their offices based in Asia were in the running for the awards and as a result many European and American companies bagged the bulk of the prizes, with only a few being awarded to Asian companies. In the highly competitive category of 'Innovation of the year', Ceylinco Insurance received the coveted top prize, among other multinational giants operating in Asia; Swiss Re, HSBC International Life, American Home Assurance, HSBC Insurance Brokers,3i Infortech, Benfield etc. Mr. Ajith Gunewardena, Chief Executive Director of the company had this to say ?We Always aim to satisfy the aspirations of our customers- We look beyond the traditional approach, thus, being a vibrant innovative company, close the hearts of our Customers, in introducing innovative solutions to fulfill their needs .The 'One and Only' product was born as result of our staff being encouraged to take part in the new product development process and I express my sincere appreciation to all of them.
Further we wish to express our gratitude to the Arpico and Laugfs chain of supper markets and to all our partners in the out stations, who made the success of this product possible. Deshamanya Dr. Lalith Kotelawala, Chairman Ceylinco Insurance Company said, "It is a significant accomplishment for a Sri Lankan company to achieve such recognition in the global scenario. This proves once again, our concern for the Sri Lankan insuring public and we will continue to meet the needs of all Sri Lankan." Over the years, Ceylinco Insurance has invented and reinvented products to suite the diverse needs of its customers. The insurance giant has constantly placed its customer's requirements in the forefront with compassionate solutions and moreover, proving to be a beacon of hope during the nation's darkest hour. In 2005, Ceylinco Insurance was the only insurer to come forward to settle all claims following the Tsunami devastation.
Last year, the company launched the 'One and Only' insurance scheme with a vision to introduce into the market a product that defied the theory of insurance only being affordable to the affluent. Instead, the 'One and Only' product was made available to all segments of the market, via distribution through major supermarkets and department stores - a concept that had never been attempted before in the world of insurance. Ceylinco Insurance was first recognized as a true innovator in Asia in 2003, when it won the award for its revolutionary motor insurance scheme of settling motor accident claims "VIP On-the-Spot"
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