Postal insurance services launched

NEW SERVICE: Sri Lanka Insurance Corporation, announced the signing of an MOU with the Sri Lanka Postal Department to launch "Postal Insurance Services' in its pursuit to take the benefit of Insurance services to the rural market.

Director - Sri Lanka Insurance Damien Fernando and the Post Master General K.A.S. Senadheera, signed the agreement on behalf of the two parties in the presence of Minister of Posts and Telecommunications and Rural Economic Development D.M. Jayaratne. With the launch of "Postal Insurance Services" Sri Lanka Insurance will introduce three products in the initial phase - Fire Insurance cover for private dwellings, Personal Accident Insurance and Burglary Insurance which would fulfil the basic insurance needs of the rural customer.

These packages are designed to bring insurance services to the rural market at an economical and affordable price. The Postal Network will be an added distribution channel for Sri Lanka Insurance who already has an extensive distribution network via their branch network, bank assurance and direct marketing channels.

The Sri Lanka Postal Department's 4044 strong postal network consisting of 634 main post offices and 3410 sub-post offices spanning across nine provinces of the country will enable Sri Lanka Insurance to reach the far corners of the Island. Director of Sri Lanka Insurance Damien Fernando says, "By launching this service we will give the general public living in remote areas easy access to avail themselves of their insurance needs."

This service, will be available to any customer who wishes to obtain an insurance cover through a simple process of completing a proposal form and handing it over to the post master.