Ceylinco Life wins World Finance award | Sunday Observer

Ceylinco Life wins World Finance award

29 January, 2023

Ceylinco Life won the World Finance award for ‘Best Life Insurer in Sri Lanka’ for the ninth consecutive year last year.

The award, combined with Ceylinco Life recently being adjudged Sri Lanka’s ‘Brand of the Year’ bought to a close a year of outstanding performance and resilience inthe face of one of the worst economic crisesin memory.

The World Finance Global Insurance Award recognises Ceylinco Life as an organisation that is committed to continuously improving its overall processes, efficiency and relationships to serve customers better.

The accolade was once again conferred on Ceylinco Lifeafter a stringent assessment of multiple aspects of operational performance including underwriting processes and process efficiency; policy maintenance – the process of reviewing clients’ policies, appropriateness of coverage and cost per policy; exposure to risk; customer retention rate; time taken to settle claims; new customer acquisition rate and financial stability – Premium Income, Market share, Life Fund and company profits.

Notably, Ceylinco Life is the only life insurance company in Sri Lanka to consistently win this award.

Besides the many local and international awards won by the Company in 2022, one of the most momentous events of the year was Ceylinco Life’s partnership with Kings Hospital through a major equity investment that significantly enlarged the Company’s footprint in the healthcare sector and diversified its investment portfolio.

Ceylinco Life also continued all its flagship events, launching the 16th edition of its ‘Family Savari’ mega promotion, presenting ‘Pranama’ scholarships to 147 Sri Lankan students who had excelled in public examinations and extracurricular activities and advancing itsinvestmentsin a greener environment by expanding its network of eco-friendly branches.

The Company was also adjudged Sri Lanka’s ‘Service Brand of the Year’ at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards of 2022 and was voted the most popular entity for customer service in the life insurance category for the second consecutive year, in an online survey conducted by LMD.

The World Finance Awards judging panel represents the expertise of over 230 years of financial and business journalism, supported by a research team that works round the clock to ensure the award winners are the most deserving in their sector. Additionally, reader insight and experience are relied upon to provide nominations.

The judging panel is required to avoid bias towards criteria such as depth of practice and size of the company, in order to get an insight into different geographies and niche areas.