'Postal Insurance Services' launched

The Sri Lanka Insurance Company launched the first phase of their inaugural 'Postal Insurance Service', an initiative by SLI in collaboration with the Postal Services Department of Sri Lanka. This project will give the public in remote areas easy access to avail themselves of their insurance needs.

Three products have been introduced in the initial phase of the project i. e. Fire Insurance cover for private dwellings, Personal Accident Insurance and Burglary Insurance to fulfil the basic insurance needs of the rural customers.

These packages have been designed to bring insurance services to the rural market at an affordable price. Apart from these policies, renewals for third party insurance policies for motor vehicles will also be made available via the post offices.

Sri Lanka Insurance in its pursuit to take the benefit of Insurance services to rural areas will use post offices in all parts of the country to educate and offer insurance benefits to rural dwellers. This service provided only by Sri Lanka Insurance 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.

Upon receiving payment, a copy of the receipt will be handed over to the customer while a copy will be held at the post office and another sent to the Postal Insurance Department of Sri Lanka Insurance. Sri Lanka Insurance will thereafter despatch the required policy directly to the customer.

Director of Sri Lanka Insurance Damien Fernando said, "We are pleased to have achieved our corporate objective to provide insurance services to the rural community. This is a 'first' in the insurance industry and we have set about it to provide greater convenience and benefits to our customers.

We look at this initiative as a means of increasing the penetration of Insurance in Sri Lanka by building awareness and educating the people of the long-term benefits insurance can accrue." We are also working towards providing Life Insurance products and Formula Plus Motor Insurance policies in the second phase of the project'.