IRCSL launches “InsureChamp 2025” – Inter-University Insurance Quiz Competition

The Insurance Regulatory Commission of Sri Lanka (IRCSL), the national authority responsible for supervising, regulating, and developing the insurance industry, has announced the launch of “InsureChamp 2025” – Inter-University Insurance Quiz Competition, on Thursday, 20 November 2025.

“InsureChamp 2025” has been introduced as a national platform that brings together bright undergraduates from state universities and recognised higher education institutions across Sri Lanka. The initiative aims to enhance awareness of insurance as a vital pillar of financial security and national resilience while encouraging learning, dialogue, and deeper understanding among future leaders. Through this competition, IRCSL seeks to inspire a new generation that values protection, stability, preparedness, and financial literacy, and recognises the important role of insurance in both personal and national development.

The much-anticipated competition was held at the Sapphire Hall, BMICH, Colombo 07, with the participation of representatives from universities, insurance companies, and IRCSL, demonstrating the collective commitment to strengthening the next generation of insurance professionals.

IRCSL Chairman Dr. Ajith Raveendra De Mel emphasised the importance of empowering future insurance leaders and commended the participation of 17 universities and higher education institutions, reflecting the growing interest of youth in the insurance sector. He highlighted that the core objective of InsureChamp 2025 is to deepen students’ understanding of insurance and its significance in financial security and national development. He also pointed out expanding career opportunities in actuarial science, risk management, data analytics, and product development fields, offering competitive prospects and strong pathways for career growth.

Dr. De Mel encouraged universities to introduce degree programs and specialised courses in insurance and reaffirmed IRCSL’s commitment to supporting academia and industry partners in developing a skilled workforce. He further noted that insurance is globally recognised as a respected profession and outlined IRCSL’s plans to advance youth-focused initiatives through enhanced university collaborations, research promotion, the inclusion of insurance content in school curricula, and expanded internship opportunities.

The event also featured a Keynote Address by the Chief Guest, University Grants Commission Vice Chairman Senior Professor K.L. Wasantha Kumara, who underscored the importance of developing undergraduate talent to strengthen the future of Sri Lanka’s insurance sector. He emphasised the pivotal role of youth in building a more financially secure and resilient nation.

The grand finale of “InsureChamp 2025” concluded with remarkable achievements by the participating universities:

• Champion: University of Kelaniya
• First Runner-Up: University of Peradeniya
• Second Runner-Up: University of Jaffna

A special highlight of the event was the presentation of the Team Elegance Award to NIBM, in recognition of their professionalism, teamwork, and exceptional presentation throughout the competition. Further, Certificates of Participation were presented to all participants in recognition of their engagement in the event.

Through their participation, students not only brought pride to their universities but also contributed to a national effort to build an insurance-aware and financially responsible society. IRCSL believes that initiatives such as “InsureChamp 2025” will play a key role in preparing the next generation of leaders capable of advancing Sri Lanka’s financial and insurance landscape with confidence.