Mr. Harin Perera- Head of Health Care Project and Mr. Harin Perera- Head of Health Care Project

As ‘the benchmark provider of quality financial solutions’, Asian Alliance Insurance (AAI) has proved itself to be a trail-blazer in introducing pioneering insurance solutions in the country.
Once again, in pursuit of this pioneering vision and with the backing of its parent company, the Softlogic Group, Asian Alliance made a strategic entry in the area of medical insurance with the ‘Asiri Alliance Medical’ range of health care products.
Further augmenting the product line, AAI has now introduced an easy payment scheme where the customers can pay the annual premium for their Asiri Alliance Medical insurance policies in installments, and has launched Asiri Alliance Medical – Senior for the benefit of our senior citizens.
“By entering the area of individual health insurance, we like to think that we have catalyzed interest within the financial services industry to enter this market space with various products and facilities.  We feel proud to have set off a “virtuous cycle” of renewed interest in this vital area of insurance,” opined Ramal Jasinghe, Director/Chief Executive Officer, AAI.
“Sri Lanka possesses a robust public sector health care system which is probably one of the oldest within the Asian Region, and has sustained the country’s citizens since the turn of the 20 th century!  However, an increase in ageing population and the rise in lifestyle diseases are placing a severe strain on the state health care sector, which is provided to citizens free of charge.
The private health care sector can do much to alleviate this burden while functioning as a safety net as well as to supplement the medical insurance needs of an individual or a family unit, in the absence of a national contributory medical insurance scheme.
Our medical insurance solution – Asiri Alliance Medical – facilities can be obtained at any approved hospital in Sri Lanka, including the state sector paying wards, which will widen health care choices for people of the country like never before,” informs Jasinghe.
AAI’s acquisition by Softlogic Holdings has given rise to strategic group synergies and the group companies – Asiri hospitals and AAI – have collaborated to emerge with ‘Asiri Alliance Medical’, which offers attractive medical insurance solutions to cover customer needs in a comprehensive manner.
‘Asiri Alliance Medical’ makes history as the first stand-alone, annually renewable medical insurance solution to offer a multitude of health care benefits to individuals – with an emphasis on pre & post hospitalisation benefits and day care surgeries.
Customers of ‘Asiri Alliance Medical’ will also benefit from the rapidly expanding private hospital sector in the country.
This scheme is applicable in all hospitals however ‘Asiri Alliance Medical’ customers availing treatment from the Asiri Group of Hospitals’ services will receive extra conveniences and benefits.
Jasinghe says, “The response to our health care insurance solutions has been phenomenal and has already started off a wave of similar medical solutions in turn, which is a testimonial to the potential this segment holds.
Judging by the existing potential and the positive feedback from the market, medical insurance will be the next frontier of growth – much like what motor insurance was at one time.”
Further, Harin Perera, Head of Healthcare Projects, AAI, comments, “Asiri Alliance Medical’ consists of Basic, Executive, Empire and Esteem packages, which start from Rs. 75,000 sum insured, going up to one million rupees at premiums starting at low as Rs. 7,500 per year.
Policyholders of the Asiri Alliance medical insurance products avail to themselves a second opinion with Best Doctors Inc. This opportunity of a FREE consultation with the World’s 5000 Best Doctors® is introduced to insurance policyholders for the first  time in Sri Lanka.
All in all, the policies cover the entire gamut – from OPD, 135 day care surgeries, hospitalization and pre/post surgery care. Our collaboration with Asiri Hospitals ensures that customers of ‘Asiri Alliance Medical’ can also receive cashless benefits with the Asiri Hospital’s ‘Asiri Amazing Care’ loyalty programme.
Meanwhile, the insurance company forges ahead in developing the segment with further innovations.
Creating history in the medical insurance landscape in Sri Lanka, AAI announced the launch of its newest addition to the ‘Asiri Alliance Medical’ product range – ‘Asiri Alliance Medical – Senior’ a much needed individual insurance scheme, which will offer insurance cover until the ripe age of 75.
This is our contribution towards addressing the needs of the aging population of our Nation.  Piyal Gunawardena, Assistant General Manager – National Distribution and Business Development (Non Life), AAI, says, “We will be accessible across all customer touchpoints islandwide. We maintain a strong presence in 33 locations which has now been further strengthened by establishing our presence at Softlogic Finance outlets.
We will continue expanding our distribution channels in a strategic manner through regional distribution outlets.”
He explains that the medical solutions have been devised after careful strategizing and analysis of target groups.
The main focus will be targeting the growing middle class income segment, with affordable medical insurance product offerings, to manage their healthcare needs.  Sri Lanka has a growing middle class with greater spending power, coupled with aspirations to enjoy a healthy and secure lifestyle.
For details of these product innovations one could call 0772 315555.

Ceylinco Life Managing Director/CEO R. Renganathan conducts the first draw of ‘Family Savari 6’

The first draw for Ceylinco Life’s ‘Family Savari 6’ conducted last week has identified 460 people who have won a fully-paid holiday in Singapore or a day’s outing at the Leisure World theme park. The Life Insurance leader drew 15 policyholder families who will be joined by 35 more families in Singapore next year, and 100 policyholder families who will be among 400 families to Leisure World.
Policyholders from areas such as Achchuveli, Divulapitiya, Nochchiyagama, Welimada, Akuressa and Nikaweratiya were among the winners of the first draw. Ceylinco Life will also select five other policyholder families for an all-expenses-paid holiday in Paris and ten policyholder families to tour China at the grand draw of the Ceylinco Life Family Savari 6 in January 2013.
In all, a total of 2,260 people representing 565 lucky policyholder families are to be rewarded under this promotion. The promotion period for Family Savari 6 runs from August to December 2012, during which all active long term Ceylinco Life policyholders as well as holders of Ceylinco Life Retirement Accounts (CRAs) can earn multiple winning chances up to a maximum of 10, at two draws.
Existing or new policyholders who pay a monthly premium of Rs 15,000 and above, or have a balance of Rs 1.5 million in their CRA with a Life Plan, will be eligible to win a holiday in Paris, the company said. To be eligible to win a holiday to China, a policyholder should have a monthly premium of Rs 7,500 or a CRA and Life Plan balance of Rs 1 million.
Existing policyholders and new policyholders who purchase life insurance between 1 st August and 31st December, 2012 with a minimum monthly premium of Rs. 2,500 and CRA accountholders with a minimum balance of Rs 500,000 will have a chance to participate in the Singapore tour, while policyholders who pay a monthly premium of Rs 1000 or CRA account holders with a minimum balance of Rs. 250,000 will be eligible to win visits to Leisure World.
Emphasising the value of loyalty, policyholders will receive one additional winning chance for every year they have been with Ceylinco Life, up to a maximum of 10 winning chances for those who have been active policyholders for a decade or more. Since 2007, Ceylinco Life has rewarded more than 11,000 policyholders and their loved ones with the Family Savari experience, including luxury ocean cruises and holidays in China and Singapore, helicopter rides, visits to Leisure World and camping adventures.

Mark Tucker, Group Chief Executive & President, AIA Group

On the back of record new business results, acquisition highly complementary with AIA’s strategic strengths and prior ties.
AIA Group Limited (“AIA”) has reached agreement with ING to acquire its insurance subsidiaries in Malaysia for a cash consideration of Euro 1.336 billion (US$1.73 billion).
The acquisition remains subject to regulatory approval and the execution of the appropriate legal documentation. Once approved, the acquisition will be immediately accretive to AIA’s earnings and will make AIA the Number One ranked insurance provider by total premiums in the high-growth Malaysian market.  Mark Tucker, AIA’s Group Chief Executive and President, said, “This is a compelling and unique opportunity for AIA to further enhance our ability to sustain high-quality growth in the fastest- growing insurance region in the world and in one of the most attractive markets in the region.  ING’s business in Malaysia represents an excellent strategic fit with AIA where we already have a well-established and strong business and the ability to integrate ING’s businesses with our own.
This means a highly attractive investment proposition with very positive benefits for all stakeholders: customers, employees, agents and shareholders.” ING Malaysia is the third largest insurer in Malaysia, serving more than 1.6 million customers and offering a suite of products including life, general, employee benefits as well as Takaful insurance
products through a joint vent

(Q.) Eleven years in the business, can you tell us about the history of HNB Assurance?
Manjula: Yes, HNB Assurance entered its second decade of providing protection with a spirit of caring celebrating eleven years of professionalism in fulfilling insurance needs. HNB Assurance PLC is a public limited liability company incorporated in Sri Lanka on 23rd August 2001 under the Companies Act, No 17 of 1982, and is a subsidiary of Hatton National Bank, and 60% of the share capital of the Company is held by the Bank. Our market capitalisation presently exceeds Rs. 2.8 billion. In 2003 we obtained a listing on the CSE. HNB Assurance PLC is one of the fastest growing Insurance Companies in Sri Lanka with a network of 50 branches. HNB Assurance has also been awarded “A (lka)”as its insurer financial strength rating and national long term rating by Fitch Ratings Lanka Ltd.
(Q.) What is your view on the current situation of HNB Assurance?

Lalith: We are proud to say that HNB Assurance achieved a remarkable growth rate of 275% and 371 % in respect of Profit Before Tax and Profit After Tax respectively for the six months ended 30th June 2012. One of the key contributory factors to this excellent performance has been the improved underwriting profitability achieved in respect of its General Insurance business.
This is reflected by the Company being able to record a combined Ratio of 100% through its unwavering commitment to maintaining professional underwriting standards.
As a part  of Continued commitment to customer satisfaction HNB Assurance has introduced new products such as “myhome”, “myhealth” & ‘motorGuard Xtra’ to the Sri Lankan market.

(Q) Why is that we see a new range of products being launched simultaneously?

Manjula: HNB Assurance, being one of the leading innovative insurance solutions providers in Sri Lanka increased its competitiveness in the industry by adding attractive new insurance products into the market. We wanted to be a trend setter in the industry and to address every possible customer insurance needs. We have launched an array of new products in order to improve our service standards by giving our customers what they want in an insurance cover with unique benefits.

(Q.) Can you give an introduction about the newly launched ‘my home’ , ‘my health’ & motorGuard Xtra?

Lalith: “my home” is an ideal protection cover to homes as this policy has been formulated with every eventuality and possibility in mind, with various options and customisations available to suit each individuals needs. Among many unique features, “my home” provides an unparalleled ‘No Claim Bonus Scheme’ which allows for up to 15% bonus if remained unclaimed till the 3rd year. Another enticing feature is that excesses will be waived off if adequately insured.Talking about ‘my health’, it’s being cited that Sri Lankans are now more health conscious than ever before.
As a result of healthy lifestyle trends and self-image persona, a more healthy and fit generation has given prominence to the value of being healthy.
Therefore “my health” insurance policy has been tailored to those customers who give priority to health and wellbeing. “my health” insurance package provides three revolutionary plans offering the options to select the most suitable combination that fits  each individual’s health requirements and budgetary needs.  “MotorGuard Xtra” is a premier car insurance policy which is dynamically designed to give customers a wider range of benefits whiles covering every possible risk that motorists face today.  It offers our customers extra special features such as a free life cover and also discounts on bundling with other insurance policies offered by HNB Assurance.

A GCE A/Level student receives a Pranama scholarship from Ceylinco Life Managing Director and CEO R. Renganathan at the last Pranama presentation held in January 2011.

A batch of 164 high achieving young Sri Lankans is to be recognised and rewarded with scholarships totalling Rs. 8.4 million at the 11th annual edition of the Ceylinco Life ‘Pranama’ scholarships programme, the life insurance leader has announced.
The company has now commenced accepting applications from eligible candidates for the scholarships which are presented in five categories to school children and young adults who excel in academics or at national or international level in sports, drama, invention or creativity.
Applications for the next round of scholarships close on November 30, 2011 and selected recipients are to be awarded their scholarships at a gala ceremony to be held at the Ceylon Continental Hotel on January 28, 2012.
To date Ceylinco Life has assisted 1,152 students and young adults with Rs 37 million in scholarships under this initiative.
“By rewarding young people in different spheres through Pranama, Ceylinco Life has motivated many versatile young leaders to reach their potential,” Ceylinco Life’s Director/Deputy CEO T. Ranasinghe said. “The initiative has begun to have an enduring impact on the community, as many scholarship recipients are now playing important roles in society as doctors, engineers and teachers.”
Ceylinco Life Pranama scholarships are presented to policyholders’ children who achieve the best results in their respective districts at the Year 5 scholarship examination and the GCE Ordinary Level examination; to those who achieve the four best results in each district at the GCE Advanced Level examination; to those who excel at national level in sports, drama, invention or creative pursuits, and to the four students who achieve the highest marks islandwide in mathematics, biology, commerce and arts at the GCE Advanced Level examinations, irrespective of whether or not they are the children of policyholders.
For the next round of scholarships, applications will be accepted from students who sat for the Year 5 scholarship examination in 2011 and from GCE (O/L) and GCE (A/L) students who completed their examinations in 2010, the company said. All examination results submitted by applicants will be checked and certified by the Department of Examinations. The National Merit scholarships – ten of which are to be awarded next year – will consider achievements in 2009 and 2010.
The values of the scholarships range from Rs 25,000 each for the best results islandwide at the GCE Advanced Level examination, Rs 35,000 each for national merit award recipients, Rs 90,000 each for Year 5 scholarship winners, Rs 72,000 each for GCE Ordinary Level examination winners and Rs 126,000 each for GCE Advanced Level examination district winners. Students who are placed second, third and fourth at district level at the GCE Advanced Level examinations will each receive Rs 10,000 each.
Of the many benefits available to Ceylinco Life policyholders, the Pranama scholarship scheme underscores the importance accorded by the company to education, which is one the key areas of intervention in the Ceylinco Life Rewards programme.
Besides the Pranama scholarships scheme, Ceylinco Life has also established the Ceylinco Aloka Fund for education, which pays up to Rs 54,000 in 36 equal monthly instalments on the death of an active policyholder in the low income segment whose children are being educated in the primary, secondary or tertiary education sectors.

Senaka Abeygoonasekera

Responding to allegations leveled against the National Insurance Trust Fund (NITF) classifying it as another loss making government venture, Chairman Senaka Abeygoonasekera recently denied any malpractices, disparity in funds or the possibility of being compared with the Agricultural and Agrarian Insurance Board of Sri Lanka, a debunked state entity.
“As a prominent insurer, which is fully owned by the Treasury, we look after the state employees and their immediate family members through the Agrahara medical insurance plan. Compared with any other insurance company in the island, the NITF is a welfare establishment. For the past five years our monthly premium was set at Rs.75.
“In 2007, the NITF contributed Rs.1.5 billion, in 2009 Rs.2.3 billion and in 2010 Rs. 2 billion to the national budget. In return for these large sums of money given for national use, we take an average Rs. 50 million on a monthly basis to honour claims from 1.3 million members,” Abeygoonasekera said. He also inquired whether any other state entity had given such large amounts of money towards the national budget.
According to Abeygoonasekera, as per the service agreement between the NITF and the Treasury, the latter has to fill in any deficits in terms of Agrahara insurance claims.
“In Agrahara we do not charge exorbitant sums from the insured. For a monthly premium of Rs.75 paid by each member we honour claims up to Rs. 350,000 for heart surgery, hospitalization claims up to Rs.150,000 per annum, in case of accidental death – claims will paid up to Rs. 600,000 and Rs.50,000 in case of natural death. We also pay Rs.100,000 for medication for cancer patients and also provide loan protection cover if our members borrow money from banks. All this is provided for a monthly premium of Rs.75 and no other insurance company in the world can match us,” he explained.
To reduce the deficit and to reach breakeven, the NITF has already submitted a proposal to the government to increase Agrahara monthly premiums by Rs.25 to Rs. 100. This proposal is pending state approval.

AVIVA NDB gifts 100 laptops to children of loyal policyholders

AVIVA NDB Insurance has launched an innovative scheme to recognize and reward the confidence and trust of loyal policyholders.  Aptly named ‘AVIVA NDB Rewards for Life’ the scheme has been carefully designed to enrich the lives of customers.
The first in the series was rolled out by offering 100 laptops to children of policyholders with policies in force for over five years.  The children should have passed the GCE ‘O’Level examination and be under 20 years of age.  The laptops will undoubtedly inspire and help children in their academic and professional pursuits.  Applications for the draw close on November 30, 2011.  Policyholders can obtain application forms from AVIVA NDB Branch Offices, Wealth Planners or by calling the Company’s call centre on telephone no. 2310310.
One laptop will be awarded to each winning policyholder. Policyholders with more than one policy naturally stand a higher chance of winning the draw.
The gift of 100 laptops to policyholders will be a significant contribution to Sri Lanka’s fast emerging need to be IT-proficient.  The latest figures reveal that Sri Lanka’s Internet usage has reached 20.8 per 1,000 persons according to the 2010 Central Bank Annual report. Furthermore, the Department of Census and Statistics has revealed that over 16 percent are computer-literate and over 37 percent is aware of computers. The picture has changed dramatically in 8 years from what it was in 2004 when 90 percent of the population was not aware that the Internet existed.
Explaining that more AVIVA NDB Rewards for Life schemes are in the pipeline to benefit customers, especially their children, General Manager, Marketing and Customer Management Amal Perera, said, “Rewarding the loyalty of our customers with something of value that would inspire their children to achieve excellence is our way of demonstrating our appreciation in an innovative way.”
Managing Director, Shah Rouf commented, “We are pleased to contribute to Sri Lanka’s entry into an IT-enabled age.  Our reward scheme enriches our customer rapport with a gesture that has national relevance while adding significant and lasting value to their lives.”