Record increase in insurance penetration
Hiran H. Senewiratne
Sri Lanka's current insurance penetration rate is between 13
to 15 per cent. This is expected to increase by another seven per cent
before the end of next year, Sri Lanka Insurance (SLI), General
Manager-Personal Lines, Anil Meegahage said.
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General Manager Anil Meegahage |
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Facets: The
BMICH was illuminated yesterday with the commencement of
Facets Sri Lanka, International Gem and Jewellery Show.
Glittering accessories were on display and many who
visited tried out the eye-catching jewellery. Inset a
woman tries out a pair of earrings. Picture by Saliya
Rupasinghe |
"One of the reasons for the penetration level to increase is the
aggressive promotional and educational campaigns made by the industry
itself," Meegahage said.
He said in the last six months, the insurance industry itself created
a lot of aggressive awareness programmes to increase the penetration
level in the country. Meegahage said they have launched an innovative
insurance scheme "Business Club" which covers life, motor and non-motor
insurance coverage.
"This Club is backed by the strength stability in the country. With
the privatisation in 2005, it has brought in greater focus and
international processes and standards into the company,' he said.
SLI has started the branch expansion process with the opening of one
branch per week. It has also taken the initiative to increase the number
of branches and educate sales managers of the company, he said. |
