Union Assurance Recognized As Sl’s Most Innovative Digital Insurance Company

Union Assurance was recognized as the Most Innovative Digital Insurance Company of Sri Lanka and the Most Innovative Digital Initiative of Sri Lanka in 2021 by the world-renowned Business and Financial journal International Business Magazine, the comp[any announced in a news release.

 The awards were attributed to the many initiatives by Union Assurance to spearhead digital adaptation in the insurance industry through a comprehensive transformation journey which focuses on the digitization of operations, building capability and adopting disruptive technology, it said.

 Commenting on this special achievement, Jude Gomes, Chief Executive Officer of Union Assurance stated “Our progressive investments in cutting-edge digital technology are coming to fruition. Our transition to a digital operating model has been rapid, supporting over 500 employees working remotely and helping Union Assurance to provide best in class online services to our customers.”

 While Sri Lanka has trailed behind in innovating its products, servicing capabilities, and distribution in this market, Union Assurance is stepping out of the norm and driving forward innovation, making its mission to bridge the gap between the tech-savvy consumer and the less advanced industry. By transforming itself to become a digitally enhanced, customer-centric life insurer with better, tech-enabled products, services, and platforms, Union Assurance is leading the way for the Sri Lankan market in helping its customers to achieve their financial goals and live comfortable, protected lives, the release added.

 Union Assurance is recognized as LMD’s #1 Most Awarded insurance company in Sri Lanka. It received the most respected international accolade for financial advisors in life insurance for producing the highest number of MDRTs (Million Dollar Round Table achievers) in 2020.  Union Assurance is a part of the John Keells Group, Sri Lanka’s largest listed conglomerate, completing over three decades of success with a market capitalization of Rs. 18 Bn, a Life Fund of Rs. 42 Bn and a Capital Adequacy Ratio (CAR) of 341% as at December 2020.