Insurance regulator kicks off nationwide awareness campaign from Matara

• Mass-scale initiative launched under the theme “Insurance for All: For a Secure Future”

The Insurance Regulatory Commission of Sri Lanka (IRCSL) launched its mass-scale nationwide insurance awareness campaign on 26 June 2025 in Matara District, under the theme “Insurance for All: For a Secure Future.” 

The campaign aims to improve public understanding of insurance, promote financial literacy, and increase insurance penetration across all regions of Sri Lanka, with a particular focus on underserved rural and semi-urban communities.

This landmark initiative commenced with a series of impactful events designed to engage the public and promote dialogue between the insurance industry and local communities. For the first time in Sri Lanka’s history, all 29 licensed insurance companies, along with key industry stakeholders including the Insurance Association of Sri Lanka (IASL), the Sri Lanka Insurance Brokers Association (SLIBA), and the Sri Lanka Insurance Institute (SLII) came together under one platform, led by the Insurance Regulatory Commission of Sri Lanka (IRCSL), the regulator of the industry. This unprecedented collaboration marks a significant milestone in Sri Lanka’s insurance sector, reflecting a unified commitment to promoting insurance awareness, enhancing financial literacy, and advancing inclusion across the country.

Roadshow and community engagement

The day began with a large-scale roadshow from 8:30 a.m. to 1:30 p.m., covering Matara city and surrounding areas including Akuressa, Kamburupitiya, Deniyaya, Weligama, Hakmana, and Dikwella. Over 500 representatives from life and general insurance companies actively participated in conducting direct outreach to the public through educational materials, interactive activities, and promotional events. The roadshow created widespread visibility and encouraged people to learn more about the role of insurance in safeguarding their financial well-being.

School program on road safety and insurance

Simultaneously, a Road Safety and Insurance Awareness program was held for schoolchildren at the Rabindranath Tagore Auditorium, University of Ruhuna, and along the Beach Road, Matara, from 8:30 a.m. to 11:30 a.m. The program was attended by approximately 1,500 students and teachers from several schools in the Matara District. It featured interactive demonstrations and practical learning experiences aimed at promoting road safety and introducing the fundamentals of insurance to younger audiences. The session was conducted in collaboration with the Clean Sri Lanka Project, the Sri Lanka Police, the Ministry of Education, and other key stakeholders. 

Main workshop for public awareness

The highlight of the day was the Insurance Awareness Workshop, which was held from 1:30 p.m. to 5:15 p.m. at the Rabindranath Tagore Auditorium. The workshop attracted an audience of approximately 1,500 participants, including advanced-level students, university lecturers, university students, government officers, and the public.

The workshop covered a wide range of important topics, including The regulatory role and functions of the IRCSL; The value and benefits of life and general insurance; Special insurance schemes such as Suraksha and Agrahara; Procedures for claiming compensation in hit-and-run motor accidents; Details of the newly introduced Optional Compensation Scheme (OCS) for third-party victims; The role of insurance brokers in enhancing sector growth; and Career opportunities and skills development in the insurance industry.

The session was designed to be engaging and accessible, featuring educational videos, interactive presentations, entertainment segments, and a raffle draw with gift packs for lucky participants. The workshop created an open platform for discussion, enabling participants to raise questions and receive guidance from industry professionals.

In addition, all 29 licenced insurance companies, along with the Insurance Association of Sri Lanka (IASL), the Sri Lanka Insurance Brokers Association (SLIBA), the Actuarial Association of Sri Lanka (AASL), and the Sri Lanka Insurance Institute (SLII), operated dedicated help desks at the venue. These help desks provided the public with access to information on insurance products and other related information both before and after the seminar.

The event also served as a valuable networking platform for the participants. Schoolchildren and university students were given the opportunity to meet representatives from insurance companies and submit their CVs for potential career opportunities, fostering early exposure to the diverse professional pathways available within the insurance industry.

A national commitment to financial inclusion

This campaign marks a major milestone in IRCSL’s ongoing efforts to improve financial inclusion and insurance literacy across the country. By taking the initiative directly to communities, the Commission seeks to bridge knowledge gaps, foster public trust, and empower individuals and families to make informed financial decisions.

This launch is only the beginning, with similar awareness programs planned in other districts in the coming months.