Softlogic Life continues growth trajectory while protecting over 1.5 million lives

Powering ahead with 20 years of operational excellence, Sri Lanka’s fastest growing, and most innovative life insurer Softlogic Life continues with its commitment to revolutionising the life insurance sector. 

The company has proven its mettle as a key player in the insurance landscape as a brand that is constantly improving and enhancing the Sri Lankan quality of life and is currently the third largest life insurer in Sri Lanka surpassing much bigger players within a short span of time. 

Affirming its potential for indelible growth, the company recently recorded a superior first half performance in a pandemic-affected business landscape, posting Gross Written Premium (GWP) of Rs. 9,183 million during the six months ending 30 June with a marked increase in top-line growth of 43% compared to the corresponding period of last year. The company also stood firmly with its policyholders in the face of the pandemic paying COVID claims of Rs. 247 million for this particular period. 

“Our job as a life insurer is to best preserve the interests of the people who trust us to be there for them during the more difficult times in their lives. This conviction drives us each and every day to stand by the great responsibility for the 1.5 million plus lives entrusted to us. Our team puts in a lot of passion and energy into finding innovative product propositions to help Sri Lankans across all different economic backgrounds to be able to afford insurance, because we strongly believe that is it is a vital necessity in today’s complex context,” remarked Softlogic Life PLC Managing Director Iftikar Ahamed.

The company was recently honoured among the Top 100 Best Global MDRT companies in the world by the premier global association for finance professionals, Million Dollar Round Table (MDRT). It is also the only Sri Lankan company on the list this year, producing 170 MDRT members in 2020. 

Further attesting Softlogic Life’s deep commitment to protect and empower its people as its greatest asset, the company was recently honoured as one of the Best Large Workplaces in Asia during 2021. The victory also marked Softlogic Life’s fifth year as an organisation recognised as a Great Place to Work and its induction into GPTW’s illustrious Hall of Fame, a unique feat only a handful of organisations in the country have gone on to achieve.

From completely transforming the way insurance is communicated to driving people to pursue their passions and live a greater quality life, Softlogic Life has breathed in new life to a once stagnating life insurance landscape. 

The company has embraced creativity and disruptive innovation such as one-day claims settlement, a worldwide cashless hospital settlement product, introducing Sri Lanka to its very first micro insurance solution via a partnership with Sri Lanka Postal Services plus many more such industry firsts all in a bid to elevate the standards of Sri Lanka by bringing people closer to world-class products and solutions. 

Softlogic Life Insurance PLC is a subsidiary of Softlogic Capital PLC and is part of the Softlogic Group, which is recognised as one of Sri Lanka’s most diversified and fastest-growing conglomerates with interests in Healthcare, Retail, ICT, Leisure, Automobiles and Financial Services. Significant stakeholders in the company include global investors Leapfrog Investments.