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| Sunday, 29 February 2004 |
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| News Business Features Editorial
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SLI to enhance its image The vision of Sri Lanka Insurance (SLI) chairman Harry Jayawardene is to settle all valid claims in 24 hours, in the future. Among the other plans envisaged are strengthening the brand and the image of the company, update the physical facilities and appearances in line with modern concepts, training and developing the staff and instilling professionalism at all levels, said AGM Marketing Sanjaya Senarath, Financially SLI is the strongest insurer in the country with a life fund of over 24 billion and assets of 8 billion. Assets under Management stands at 32 billion, which is far above the collection of all other companies in the industry. This strength has enabled the company to pay approx 12 ml. of claims per day. Reinsurance arrangements made by the company could be termed the strongest as well. This is due to the positive and long term relationships and track record with worldwide re-insurers. He said 'during the past 10 months, SLI has been able to improve the effectiveness and efficiency by looking at all processes from a customer centric point of view, reducing straight forward claim processing to less than 10 days, upgrading the infrastructure of the company, introducing PCs to operational units (over 400) replacing old typewriters, installing a new telephone system (one of the largest PABX systems in the country) new insurance operations system/software to handle life & general costing over Rs.100 million, networking of all the company's branches which includes over 80 locations islandwide. Now a customer can pay premiums at any branch. "Other contributory factors were: Strengthening and developing the channels of business field sales force of 6000 agents. The uniqueness is that they handle both life and general sales. New Corporate Business Development Unit, with a Broker Care Unit have been set up to look after the interest of the Corporate and the broker community," he said. "SLI will continue to serve the majority of Sri Lanka's population as it has done in the past. It will continue to build on the trust that it has earned by keeping its promise to the Sri Lankan people. In future, we will do so by offering greater convenience to our clients, he assured. SLI ownership is currently spread among Aitken Spence Company Ltd, Distilleries Company of Sri Lanka Ltd and Greenfield Pacific EM Holdings Ltd. Both Aitken Spence and Distilleries were recently listed in the Forbes 500 small companies outside the US for best shareholder value. The board of directors of SLI are, Chairman Harry Jayawardene, Deputy Chairman, Raj Obeysekera, Directors, Rajan Brito, Royle Jansz, Damien Fernando and Gomin Dayasiri. |
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| Editorial | Security Produced by Lake House |
