Union Assurance sweeps away multiple awards at Sri Lanka Leadership Awards 2020

Union Assurance clinched multiple awards including Best Brand and Sustainable Marketing Excellence at the Sri Lanka Leadership Awards, as well as Best Employer Brand at the Employer Brand Awards on 24 November. 

The Sri Lanka Leadership Awards and Employer Brand Awards are conducted in collaboration with World HRD Congress and CMO Global/CMO Asia and seek to identify and celebrate outstanding practices by organisations, individuals, and teams. These awards are an independent recognition exercise initiated to acknowledge organisations that have achieved extraordinary success from innovative and effective marketing practices in Sri Lanka. 

Union Assurance Chief Executive Officer Jude Gomes stated, “We are deeply honoured to be the recipient of three awards in recognition of our commitment to our customers and our employees. As the first life insurance company in Sri Lanka, we have embarked on a journey of protecting the Sri Lankan Dream, and powered it through enhanced digital capability, transforming our Brand to meet the demands of the new age.” 

Union Assurance embarked on a journey of transformation to position itself as a new-age, customer-centric, digital life insurer in early 2020. In a context where Life Insurance has trailed other industries to meet the pace of customers’ ever-changing needs, the Company launched a bold new identity depicting the circle of life, with the tagline Your Life, Our Strength, to mark an exciting journey built on the premise of customer-centricity and employee engagement. 

Amidst the challenges of 2020, Union Assurance was at the forefront of innovation and digitisation efforts. The Company’s customer-centric approach drove a vigorous overhaul of its operating model enhancing digital infrastructure, transforming transactions and training to a 100% digital platform, and implementing customer-centric initiatives to stay connected and relevant to the new-age consumer.

Commenting on the Employer Brand of the Year recognition, Gomes added, “While we focus on latest technology and innovation to power customer journeys on multiple platforms, we remain committed to our employee experience. Being presented the Employer Brand of the Year by the World HRD Congress and CMO Global/CMO Asia at the Employer Brand Awards, reflects our continuous efforts in building a high-trust workplace culture and commitment to strengthening our employee value proposition through the alignment of HR policies and practices to create an enabling work environment for our people.” 

By way of its customer- and employee-centric focus, Union Assurance achieved market-leading performance recording 9% growth in new business in a landscape in which the industry showed a marginal growth of 1% for the nine months ending 30 September. 

Union Assurance is a part of the John Keells Group, Sri Lanka’s largest listed conglomerate. It is among the most awarded insurance companies in Sri Lanka, completing over three decades of success with a market capitalisation of Rs. 18 billion, a Life Fund of Rs. 40 billion and a Capital Adequacy Ratio (CAR) of 461% as at October 2020. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, investment, protection, and retirement needs of Sri Lankans. With 76 branches and an over 3000-strong workforce, Union Assurance continues to invest in people, products, and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.

The Sri Lanka Leadership Awards conducted in collaboration with the World HRD Congress and CMO Global/CMO is a forum bringing professionals together under one roof to recognise outstanding contributions in the corporate fraternity.