HNBA News

HNB Assurance (HNBA) recently announced a strategic partnership with Cargills Bank, aimed at providing tailor-made insurance solutions that cater to the unique needs of their customers. This strategic partnership represents a significant advancement in HNB Assurance’s mission to enhance the breadth and quality of its insurance solutions. By leveraging Cargills Bank’s robust financial platform and HNBA’s industry-leading expertise, both organizations are set to deliver great value and security to their clients. This move not only strengthens their combined market position but also reflects a shared vision of integrating comprehensive financial and insurance services for greater customer satisfaction.

HNB Assurance’s Chief Business Officer, Mr. Sanesh Fernando, speaking on this newly formed alliance, stated, "At HNBA we have a proven track record of exceptional partnerships where we have been recognized as the best bancassurance provider for four consecutive years. Our latest partnership with Cargills Bank represents a significant step towards establishing an even stronger presence in the market and as the leading bancassurance provider, we are dedicated to delivering exceptional service and innovative products that meet the evolving needs of our customers. As we move forward, we are excited about the opportunities this collaboration presents and look forward to continuing our service excellence through bancassurance. Lastly, I’d like to convey my sincere thanks to both teams from HNBA and Cargills Bank for their efforts in making this collaboration a reality "

Mr. Lasantha Mahendrarajah, Assistant General Manager - Retail and SME Business at Cargills Bank, expressing his thoughts about the partnership, stated, "We are excited to join hands with HNB Assurance to offer our customers comprehensive insurance solutions. The most important thing to note is that this partnership aligns with our goal of providing holistic financial products to our customers and together, we can make a significant impact on their financial well-being. I am confident that this partnership will help us uplift our offerings and create a lasting relationship with our clients, built on trust, reliability and the assurance that they are in safe hands with Cargills Bank and HNB Assurance”

HNB Assurance PLC entered a strategic partnership with the Faculty of Management and Finance at the University of Colombo, Sri Lanka, to introduce the HNB Assurance Aspire program. This initiative aims to provide selected high-performing Advisors, Leaders, and Bancassurance Officers with an opportunity to enhance their professional and business skills.

Through the HNB Assurance Aspire program, candidates will have the opportunity to obtain a Diploma in Professional and Business Skills (DPBS) from the University of Colombo, with a pathway extending to a degree.

Mr. Lasitha Wimalaratne, CEO of HNB Assurance, speaking at the launch event, stated "At HNB Assurance, we believe in investing in our sales force and providing them with the best resources and opportunities they need to succeed. The HNB Assurance Aspire Program is initiated with this in mind showcasing our commitment to nurturing talent and helping our advisors and bancassurance officers reach their full potential. In terms of this partnership, we are very excited and thankful to the University of Colombo for giving us the opportunity to partner them and are proud to be the only insurance company in the country to form such a partnership with one of the best universities in the country. Personally, I look forward to seeing the positive impact of this program on our teams and our company.”

The Vice-Chancellor, University of Colombo, Senior Professor H. D. Karunaratne stated, “HNB Assurance has made an effective decision by choosing the best higher educational institute of the country as its trainer”. Moreover, he highlighted that “University of Colombo is not only the best university in the country, also the only higher educational institute in the country which has been listed under the top 1000 universities in the world. Therefore, the trainees of the company will obtain a global recognition after the completion of the programme.”

Mr. Shiran Fernando, Head Sales Training and Development at HNB Assurance, added, "The Aspire program is a significant step forward in our training and development efforts. By collaborating with the University of Colombo, we are ensuring that our high performers receive top-notch education and training, equipping them with the skills they need to excel further in their careers. In the first program, 40 candidates will be selected for the Colombo University program. I must convey my sincere thanks to both teams from the University of Colombo, Faculty of Management and Finance and HNB Assurance for their efforts in getting this program off the ground."

Dean of the Faculty of Management and Finance at the University of Colombo, Professor H.M. Nihal Hennayake, expressing his thoughts on this partnership stated "We are delighted to collaborate with HNB Assurance on the HNB Assurance Aspire program. This initiative aligns with our broader vision of the faculty in providing high-quality education and professional development opportunities to professionals who can benefit from advanced education, training and skills enhancement. As the facilitators of this program, I must state, our aim is not only supporting individual career growth but driving excellence that will benefit the broader industry. I eagerly await the positive outcomes of this collaboration and the long-term impact it will have on the participants and their organization."

Dr. Sajitha Dishanka, the Head of the Management Consultancy Unit of the Faculty of Management and Finance, University of Colombo stated, “Our unit is fully equipped with required resource personnel and tailor-made programme curricula to meet training requirements of the corporate sector”. Further, he assured that HNB Assurance will receive the expected value provided through its learning partners and be a company with a novel and impactful experience through the inaugurated diploma programme.

Setting a new benchmark for itself, HNB Assurance PLC bagged the prestigious Gold Award at the National Convention on Quality and Productivity 2024, hosted by the Sri Lanka Association for the Advancement of Quality and Productivity (SLAAQP). The company’s project to streamline its procurement operations while reducing and lead time was recognized for its impact and use of automation.

Aligned to the company’s broader objective of efficiency improvement and value creation, this award-winning project is part of HNB Assurance's strategy to improve operational efficiency and achieve 100% paperless operations by 2026. 

HNB Assurance PLC’s CEO, Mr. Lasitha Wimalaratne, shared his thoughts "Winning this award is a great honor as it recognizes our commitment to enhancing our operations whereby helping us provide better value to our stakeholders. As a company, we continuously seek opportunities to embrace automation and digitization, so, credit to the Business Process Excellence Team along with IT, Finance, Procurement, and all other teams who collaborated and contributed to this remarkable achievement. I’m certain this recognition will motivate our teams to keep pushing the boundaries of excellence and reinforce our commitment to operational efficiency.”

The Lean Six Sigma DMAIC methodology was used as the teams successfully improved the lead time of the procurement process. The DMAIC methodology can be used to identify bottlenecks, implement solutions, and achieve measurable improvements which in this case improved the overall efficiency of the company’s procurement operations.

"In this fast-paced digital world, staying ahead and meeting evolving customer demands requires us to improve and innovate continuously.” Stated Mrs. Geethani Saram, Head of Business Process Excellence and Strategy. “Internal processes are crucial, especially in the service industry, prompting us to reassess our methods and explore avenues for enhancement. This award resulted from a long-term strategic initiative by HNBA to empower employees for scientific recognition of operational gaps and their resolution through adaptation of Lean Six Sigma methodology. The framework facilitated identifying our procurement process as a critical area for improvement and implementing effective solutions to speed up and set a new standard. My sincere thanks to SLAAQP for this recognition as it validate our efforts and inspires us to continuously innovate and drive efficiency across all our processes.”