Janashakthi's top performers tour Dubai

Seventy-five top life insurance sales professionals from Janashakthi Insurance recently visited Dubai on a life insurance industry familiarisation tour, providing them the opportunity of sharing their knowledge and experience with their counterparts in the fast growing Middle East insurance industry.

The four-day visit enabled the participants to benchmark standards and practices of traditional insurance against Takaful insurance, as well as against the traditional insurance methods prevalent in Dubai. This tour brought together high performers from Sri Lanka and Dubai in a knowledge sharing exercise of their respective markets.

Dubai, which has a population of approximately one million, is one of the seven Emirates of the United Arab Emirates, a highly cosmopolitan environment, with a total population of over four million.

A large part of its population is non-UAE nationals, primarily a mix of other Arab nationals, Asians and Europeans. Eighty percent of Dubai's population comprises expatriates with Europeans and Asians accounting for approximately 70% of households.

Approximately 71% of the population is male and 29% is female. Therefore the insurance industry is two-fold where non-UAE nationals are primarily sold traditional insurance and the Arab population primarily offered Takaful insurance. This was an excellent opportunity for traditional life insurers from Sri Lanka to gain a basic understanding of a divergent insurance market, which has seen a rapid growth over the last few years

The selection of the participants was based on a variety of business value drivers; volume of new business, quality of the business underwritten, high level of customer retention ratios and other customer satisfaction measures.

"This is yet another clear indication of Janashakthi's commitment to provide world-class financial advisors and services to our valuable customers while developing the competency and skills of our professional sales force to international standards", Janashakthi Insurance Co. Ltd's Managing Director/CEO Prakash Schaffter said.

"We firmly believe that every level of our staff should be exposed to international best practices to meet constantly evolving customer expectations and the challenges of tomorrow within a dynamic and vibrant industry. Hence our continuous investment in the skills development of our staff", Schaffter added.