Sep
A celebration of the remarkable accomplishments within its Partnership Channel, which includes partner Banks, Financial Institutions and Brokers was recently hosted by HNB Assurance at the Water’s Edge, Colombo. In an industry landscape which faced constant change and challenges, HNB Assurance’s partnership channel emerged as a frontrunner, recording an impressive growth in its Gross Written Premium (GWP) during the year 2022. Further, the company's Fee Income growth also surged during the year, underscoring its excellent performance and outstanding service standards. Speaking at the event Mrs. Rose Cooray, Chairperson of HNBA and HNBGI, stated, “I’m extremely happy to see our partnership channel lead the way and showcase such improvement, year on year. A remarkable growth in our Gross Written Premium for 2022 highlights our efforts and dedication. Further, these achievements are a reflection of our team's commitment along with the successful collaboration we have in place with our partners. While I express my heartfelt congratulations to all the winners, I’d also like to thank to the Management of all our partners for their contributions towards our growth” Mr. Lasitha Wimalaratne, CEO of HNB Assurance, sharing his thoughts at the event, stated, "Our success is not merely measured in numbers, but in the collective efforts of the exceptional individuals and teams who drive our progress. The support and skill of our partners have been instrumental in our growth journey and I’m extremely grateful to all of them. Moreover, the growth in our MDRT qualifiers year after year is a testament to the potential, we at HNBA possess for individual career growth. Further, I must state we as a team are determined to increase this number further, providing everyone with the necessary backing and support required to grow. My congratulations to all the winners today, may you grow from strength to strength.” With a contribution of 47% to the total company GWP in 2022, the Partnership channel plays a vital role in HNBAs overall performance. With an aim to improve on the achievements of the previous year Mr. Sanesh Fernando, Chief Business Officer, Partnership Business, stated, “I’m elated and proud of our incredible achievements over the past year. The success of this channel is not driven by a single individual but a collection of teams and individuals who work tirelessly towards achieving our common goal. As we celebrate and give away over 200+ awards and recognize our 117 MDRT qualifiers, I’m certain this platform will serve as an inspiration to the entire partnership channel and all our officers, propelling them to achieve even greater heights. I must also thank all partner Banks, Financial Institutions and Brokers for their continuous support.” The Partnership Awards 2023 extended its recognition beyond individual achievements, with the managers who played a pivotal role in fostering the channel's growth also celebrated. The grand awards which included the Hall of Fame award was received by Mr. K G C D Dharmakeerthi and the coveted Champion of Champions Award was won by Ms. K Subashini.
Sep
HNB Assurance clinched the prestigious "Insurance Distribution Initiative of the Year" at the Insurance Asia Awards 2023 for its groundbreaking branch expansion strategy. This initiation has propelled HNBA's growth trajectory, setting a new industry benchmark. The innovative branch expansion strategy, deployed by the Advisor Distribution Channel, focused on expanding its presence through four concepts: Incubator Model Branch, the City Branch, the Metro Branch and Virtual Business Hubs. This approach, which eliminates the need for expensive infrastructure and resources, has enabled HNB Assurance to expand its reach even further, tapping into new markets and attracting new customers in an extremely cost-effective manner. CEO of HNBA Mr. Lasitha Wimalaratne, expressed his thoughts on the recognition, stating, "We are deeply honored to receive the Insurance Distribution Initiative of the Year award from Insurance Asia Awards. At HNB Assurance, we remain committed to fostering innovation that benefits our customers and strengthens our position as a company. This recognition certainly underscores our efforts in creating a smart, customer-centric solution that drives growth. I believe that the Virtual Business Hubs represents the future of insurance distribution. By eliminating the need for physical locations, we can serve a wider audience while maintaining operational efficiency." Mr. Harindra Ramasinghe, Chief Business Officer – Advisor Distribution Channel, Stated, “This recognition is a result of our efforts as a team, where we constantly seek avenues to improve our customer touch-points efficiently. Our City Branch strategy allows us to leverage on our current infrastructure, enabling us to connect with new customers while our Metro Branch helps us approach smaller cities and towns, extending HNB Assurance's reach beyond major urban cities. Additionally, we have also introduced a new concept called the Virtual Hub Business Development Unit, which is a first in the Sri Lankan insurance industry. As a young company that continues to make impressive strides within the industry, we will continue to innovate and improve our position as the most trusted insurance services provider in the country.”
Sep
As the nation joins hands to celebrate Insurance Month, HNB Assurance (HNBA) and its fully owned subsidiary, HNB General Insurance (HNBGI), stand at the forefront of the celebrations, highlighting their steadfast commitment to safeguarding the well-being and aspirations of all Sri Lankans. HNBA and HNBGI, two relatively young companies have made impressive strides in terms of growth over the past couple of years, which is a testament to the trust earned by the two companies within a short span of time. At the heart of this year’s celebration, for both HNBA and HNBGI, lies a focus on innovative insurance offerings that cater to the many requirements and needs of all Sri Lankans. From health to home, travel to trade, savings to investments, both HNBA and HNBGI have crafted solutions that anticipate risks, adjust to changing times and ensure that every policyholder receives the protection they need and deserve. Mr. Lasitha Wimalaratner, CEO of HNB Assurance, stated “Insurance month is about us as an industry being able to come together and remind ourselves and reaffirm our commitment of the service we offer. As we celebrate and reflect on the importance of insurance, we want our stakeholders and customers at HNB Assurance to experience value and perceive insurance beyond just a transaction. We firmly believe that insurance, as an offering, can be a national service that significantly contributes to the country's resilience and growth. This belief has been the driving force behind our continuous efforts towards product innovation and excellence. One remarkable outcome of this commitment is our premium health product, Supreme Health Unlimited, which stands arguably as the best in the market. Furthermore, our remarkable growth in the Advisor and Bancassurance channels have garnered international recognition. We are honored to have secured the Best Bancassurance Award for three consecutive years. While our Innovative Distribution Initiatives have also been acknowledged by Insurance Asia Awards 2023, where we were bestowed with the Most Innovative Distribution Initiative Award. These accolades reinforce our commitment to not only serve and address the insurance needs of our customers but also reshape the industry with groundbreaking initiatives. Mr. Sithumina Jayasundara, CEO of HNB General Insurance, said, "I believe our role and aim as a company is to provide a sense of security for our customers in an unpredictable world. This is why we continuously develop insurance products that not only offer financial protection but also align with emerging trends. As an industry, it is clear that we have come a long way, especially over the past couple of years, where we have been predominantly driven by technological advancements. I believe HNBGI stands as a prime examples of how a company can adapt, innovate and thrive in today’s digital age, even while confronting tough economic challenges. As we celebrate Insurance month, I would like to remind myself and all our stakeholders that our responsibility as an organization extends beyond just policy documents. It's about trust and partnership. This is why we have been able to grow year on year, quarter on quarter at almost twice the industry growth rate. Furthermore, I’m excited to share the news of a new product launch expected later this month, which will revolutionize our motor insurance offering. Lastly, as Sri Lanka strives towards economic recovery, HNBGI remains dedicated to empowering individuals and businesses of all sizes. Our focus is on providing customized insurance offerings that safeguard our customers, whereby enabling our country’s economic growth.