The Sunday Leader

Union Assurance — One Of The Most Valuable Brands

General Manager Marketing and Distribution, Rukman Weeraratne, receiving the AA Brand Rating Certification

Union Assurance was rated as one of the most valuable brands by Brand Finance PLC. The rational behind the valuation is that the UA brand has the power to influence customer demand, trade distribution, staff loyalty, supplier terms, investor sentiment, transforming business performance and business returns, and was endorsed by Brand Finance PLC by awarding Union Assurance with a “AA” brand rating.
General Manager Marketing and Distribution, Rukman Weerarathne stated that the Union Assurance brand has a rich history of more than 20 years. The brand has been able to win the hearts of its consumers, and the employees of the company have been its brand ambassadors. Union Assurance today is one of the most trusted insurance companies in Sri Lanka.
“Our new brand promise was created to deliver an unparalleled level of trust. Trust is the most important factor in our business since insurance is a long term agreement and the consumer looks for a trusted partner to work with,” explained Weerarathne.
“At Union Assurance, we have two lines of business. Our extensive internal and external research showed that in general insurance, the people primarily look for convenience, while in the life insurance sector, they look for transparency. We combined the values of transparency and convenience with respectfulness from the corporate level, which meant that the customer wanted policies that can be bought and claimed easily, along with those that were easy to understand.
“For life insurance, transparency was key, with customers needing the assurance that what they saw is what they got,” stated Weeraratne.
“Along with a respectful approach for all parties including our customers and shareholders, the three values within the core value of trust is what makes our new promise powerful and relevant.  This will undoubtedly make the UA brand stronger and more customer appealing,” said Weeraratne.
UA has won many accolades in the recent past. They were awarded Superbrand status by Brand Finance in the year 2009. They also won the most coveted Business Excellence award for their business practices and their annual reporting has won them many awards locally and internationally.

2 Comments for “Union Assurance — One Of The Most Valuable Brands”

  1. You certainly could . I’ve done it twice and my insurance company was ok with it.

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