Ceylinco Insurance bags top honours again at National Business Excellence Awards 2011

Ceylinco Insurance once again bagged top honours for the third time when it emerged the winner in the insurance sector at the National Business Excellence Awards 2011.

Conducted by the National Chamber of Commerce of Sri Lanka for the eighth consecutive year, the National Business Excellence Awards are recognised as one of the most significant events that benchmark corporate performance and excellence.

The winning companies are selected for their noteworthy contribution towards the socioeconomic development of Sri Lanka through the adoption of efficient methodologies and proper business ethics. Additionally, the winners are also chosen for displaying a high degree of sustainable market competitiveness parallel to advocating best practices with outstanding performance and leadership in their respective spheres of industry.  Having recorded a premium income of Rs. 18 billion in 2010 and retaining its market leadership for the seventh consecutive year, Ceylinco Insurance has once again yielded outstanding results at the end of the third quarter of 2011. The company achieved a premium income of Rs. 14.7 billion, remaining the market leader for eight years in a row.

The company’s General insurance premium up to third quarter of 2011 exceeded Rs. 7.5 billion whilst its flagship brand Ceylinco VIP remained the No. 1 brand in motor insurance.

Commenting on the achievements, Managing Director and Chief Executive Officer of Ceylinco Insurance – General, Ajith Gunawardena said: “Behind these achievements is the absolute confidence placed in us by our customers, our shareholders whose trust we value and our staff who went that extra mile to ensure the company maintained highest standards in customer care and added value in every aspect of the level of service we deliver.” “To us, customer satisfaction is of utmost importance. Sound management principles also helped the company achieve this level of success. Winning the National Business Excellence Award thrice during the last four years confirms our consistency in business excellence,” he added. Ceylinco Insurance – General has always been focused on giving real-time insurance solutions to actual, felt customer needs. The company has consistently been one step ahead of the competition in the sphere of insurance.

During 2011 Ceylinco Insurance introduced yet another breakthrough in motor insurance with its innovative concept of Warranty Insurance for the motoring public of Sri Lanka. The advantage Warranty Insurance gives is that it pays for the mechanical defects of the parts in reconditioned vehicles that are covered under the insurance, during the first year from the date of purchase.

Brand new vehicles are given an extended warranty of up to two years on top of the warranty given by the manufacturer. This scheme is hailed as an industry first that enhances and adds value to the concept of insuring a vehicle.

Ceylinco Insurance – General pioneered the now widely-used VIP On-the-Spot service, which gave the customer the freedom and flexibility needed in choosing a motor insurance.

Given its tremendous popularity, On-the-Spot was later extended to all insurance services offered by the company and is today recognised as a benchmark service in the insurance industry. VIP On-the-Spot has also been recognised by the regional and the global insurance industry as an industry first. In an affirmation of its outstanding quality offered to their customers, Ceylinco Insurance received the prestigious World Quality Commitment Award in the Gold Category at the World Quality Commitment Convention at the International Quality Awards 2011, held in Paris in November 2011.

Consolidating its position as the trail blazer in the Sri Lankan insurance industry, Ceylinco Insurance was recognised as the ‘People’s Insurance Brand of the Year 2011’ for the fifth consecutive year. The People’s Awards, conducted by the Sri Lanka Institute of Marketing (SLIM) in association with Neilsen Lanka (Pvt) Ltd., recognise and honour brands that have won the hearts of Sri Lankans.