Sri Lanka Insurance Corporation General Ltd (SLICGL) has launched the world’s first dedicated recognition and achiever scheme for general insurance sales professionals, the General Insurance Pinnacle Achiever (GIPA) Award.
SLICGL identified a gap within the industry – the absence of a global, independent platform that specifically celebrates the dedication and success of general insurance sales professionals, promotes their development, and sets general insurance sales standards at industry level.
While the life insurance industry has established benchmarks including the Million Dollar Round Table (MDRT) and training programs authorised by the Life Insurance Marketing and Research Association (LIMRA), no equivalent exists for general insurance sales professionals.
While many large multinational insurers conduct internal sales awards, none focus solely on recognising and developing general insurance salesmanship abilities at a global level. GIPA aims to address this imbalance.
Taking a proactive step, SLICGL is bridging the void, conceptualising the global-first GIPA initiative, and giving due credit to general insurance salesmanship with a more sustainable approach in terms of business success and in terms of its contribution to industry sustainability.
Creating an independent brand, the GIPA program is designed to benchmark peak performance among general insurance salespersons across the globe in diverse markets.
GIPA sets six robust benchmarks to reveal excellence in global general insurance salesmanship such as Overall Volume Recognition, New Business Contribution, Recognition to Business Retention Success, Year-on-year Growth, Level of Sustainability in the Business Portfolio, and Position in the Organisational and National Ranking.
The program considers multifaceted sales skills and integrated parameters for a country to customise and develop towards its general insurance industry.
It also offers a realistic standard to showcase well-rounded, inevitable mastery within general insurance worldwide.
The GIPA recognition is to be rolled out in phases, beginning with acknowledging exceptional performance under the levels as ‘Achiever’, ‘Star’, and ‘Legend’, followed by capacity-building opportunities, and eventually facilitating access to industry innovations.
It is also a testament to the company’s commitment to excel at a global level in the insurance industry. To achieve this objective, SLICGL aims to work collaboratively with the wider Sri Lankan general insurance industry to leverage GIPA’s potential with global partners.
The key to GIPA’s success is the formation of the GIPA Council, an independent body tasked with setting evaluation parameters and ensuring the program’s adaptability across global markets. SLICGL is now focused on setting up an independent GIPA Council comprising the global general insurance leadership that will formally govern GIPA’s worldwide rollout.
After the multinational council is constituted, GIPA aims for rapid international expansion, leveraging support from renowned names in the global general insurance industry.
SLICGL launched the award program internally in 2023 to recognise stellar performers.
The company partnered with a pioneer in insurance and reinsurance brokering with global representation, J.B. Boda, to felicitate these achievers, who are to be honoured in Malaysia shortly.
