ABC Insurance targets rural masses

ABC Insurance Company Ltd., a new venture in the insurance industry plans to tap the rural masses, targeting 30 branches within three years.

Deputy Managing Director, ABC Insurance, Vinnie Guneratne told the Sunday Observer that the company targets to be No. 7 in the insurance market within three years.

"We will achieve this goal by providing quality service and streamlining all insurance activities according to customer needs," he said.

ABC has been striving to offer the best service in General and Life Insurance to customers during its one year in operations.

The products in the General category such as Auto Pal, Apey Kade and Kadella and in the Life division Vinivida, Uththunga and Sisumina are unique compared to other insurance companies, Guneratne said.

ABC Insurance hopes to upgrade its technology and go online to provide better service and meet the growing demands and challenges of the industry. The company will invest Rs. 40 million for this purpose.

Guneratne said training the staff to develop their marketing skills is a priority that has helped the company to consolidate its position in the insurance field. Inhouse and overseas training programs for the staff are conducted to enhance productivity and efficiency.

ABC Insurance has tied up with the SME Bank to provide loan protection. This has been undertaken to develop industries and improve the quality of rural life.

Conducting rural educational programs and social activities are some of the key marketing strategies to take insurance to the grassroot level, Guneratne said.

ABC Insurance commenced operations in August 2005 and currently has 12 branches across the country in Nuwara Eliya, Gampaha, Colombo, Matara, Galle, Anuradhapura and Mahiyanganaya. The next branch will be opened in Kandy taking the network to 13.

LF