Janashakthi pioneers livestock insurance

Janashakthi Insurance launched yet another revolutionary policy with the launch of Janashakthi Livestock Insurance Policy.

Henceforth private owners, dairy farms, cooperatives, corporate dairies and livestock breeders across Sri Lanka will have easy access to Janashakthi’s Livestock Insurance Policy through which they can insure their cattle, goats and poultry. Cattle include milch cows, buffaloes and stud bulls, while poultry includes layers, broilers and hatchery birds. Insurance cover will also be given to indigenous crossbreds and exotic cattle.

The scope of covers in this policy include the loss sustained as a result of death or permanent disablement due to accidents (including fire, lightning and flood) and various kinds of diseases that affect livestock including cattle, goats and poultry.

Janashakthi’s General Manager Insurance Dayalanie Abeygunawardena said: “We are happy to launch this revolutionary policy and thereby be of help to the national livestock industry. The uncertainties of this industry are immense and thus peace of mind is furthest from one’s mind. Livestock is most often very vulnerable since accidents and disease can strike at any time thus resulting in great losses.”

“According to Central Bank statistics, Sri Lanka’s Gross National Product (GNP) of Agricultural, Livestock and Forestry last year amounted to Rs. 283.2 b. Out of which, livestock alone amounted to Rs. 22.3 b. This is a thriving industry and in fact last year loans to the livestock and dairy sector increased to Rs. 4.5 b. marking an increase of 52.5% by commercial banks. We are thus privileged to play a pivotal role for the protection of Sri Lanka’s livestock industry,” she added.

Central Bank statistics also indicate that in 2010 Sri Lanka had a cattle and buffalo milking population of 338,640 yielding 248 m litres. With the government’s ongoing focus on developing the local dairy industry, the fresh milk industry is poised for further growth within the next few years.

Janashakthi’s Head of Marketing Paddy Weerasekera said: “As our name suggests, we take pride in being the strength of the masses. Janashakthi has at all times strongly felt the pulse of the people and innovated policies for their protection. This Livestock Insurance Policy is yet another in a long line of products which gives protection and peace of mind not only to large scale industrialists but also to the small dairy entrepreneurs all over Sri Lanka.”

Innovation and dynamism are predominant characteristics which drive Janashakthi’s portfolio of products and services. Janashakthi Insurance enjoyed a strong track record of launching a range of industry firsts during the last few years and thus revolutionising the local insurance market.

Among these industry firsts are Janashakthi Life Unlimited, Sri Lankas only medical insurance policy which pays free lifetime hospitalisation even after the policy has ended and Janashakthi My Car... My Home... My Life, the free home and a life cover when one purchases a motor insurance policy.

Janashakthi also created yet another revolution in Sri Lanka’s insurance industry with the launch of the country’s first-ever 24-hour vehicle breakdown policy. This much acclaimed industry first, the Full Option Vehicle Emergency Policy is operative 24 hours a day and 365 days of the year throughout the island.

With its growing array of local and global awards, Janashakthi continued to create value for customers. Good corporate governance has established the image of the company as a socially responsible entity delivering greater and consistent value to customers, employees, shareholders and the country at large during the 17 years of its service to the nation.

Janashakthi’s Board of Directors consists of eminent professionals, with proven track records in the business world including W.T. Ellawala (Chairman), C.T.A. Schaffter (Deputy Chairman) and Prakash Schaffter (Managing Director). The rest of the board comprises L.C.R. De C Wijetunga, Deshmanya Dr. Nihal Jinasena, Eardly Perera, Anushya Koomaraswamy, Ramesh Schaffter and Manjula Mathews.