Ceylinco Insurance – General heads for yet another promising year

Thursday, 8 August 2013 00:00 -     - {{hitsCtrl.values.hits}}

  • Posts impressive 1H results with premium incomesurpassing Rs.5.7 b
Laying the firm foundation for yet another successful year, Sri Lanka’s insurance giant, Ceylinco Insurance, declared impressive results for the first half of 2013. “The first half of 2013 saw the company record a total premium income of Rs. 11.2 billion, with the General and Life Divisions contributing a mammoth Rs. 5.8 billion and Rs. 5.4 billion, respectively,” Senior Assistant General Manager – Marketing Senaka Rajapakse stated, announcing the company’s striking results. Living up to its promise of timely settlement to customers, Ceylinco Insurance – General has already paid out Rs. 3.1 billion as claims during the first half of 2013. The Ceylinco Insurance On The Spot claim settlement process covers all motor and non-motor products, such as fire, burglary, natural disasters, hospitalisation, travel and marine insurance, ensuring that customers obtain their settlements fast. “We take every effort to keep our promise to our customers, at every juncture. Although we have embarked on a promising note for 2013, delivering what we promise to our customers is vital to us,” Rajapakse added. Ceylinco Insurance recently announced yet another breakthrough in motor insurance, with another pioneering concept, providing a Warranty Insurance for their Ceylinco VIP customers. The advantage in Warranty Insurance is that it pays for manufacturer’s defects in parts in brand new, re-conditioned and even used vehicles that are covered under insurance, until the vehicle exceeds 10 years from the date of manufacture. Ceylinco VIP customers, whose vehicles are less than 10 years from the date of manufacture will be entitled to this Warranty Cover without paying a cent more in additional premium. Thus, brand new vehicles will be given an extended warranty of up to 10 years, which will commence soon after the manufacturer’s warranty expires. The cover will be valid for new policies, whilst existing policyholders will be entitled to this new benefit from the date of their next renewal. “Regular vehicle insurance only settles claims if the vehicle has met with an accident. But, combined with Warranty Insurance, Ceylinco VIP On The Spot offers vehicle owners yet another unmatched benefit, comprehensively covering several mechanical and electrical parts of the vehicle against manufacturing defects. This matchless benefit is hailed as another industry first that enhances and adds value to the concept of insuring a vehicle. This is yet another exclusive advantage our customers will be entitled to, in addition to the host of other benefits they already enjoy. All cars, vans, jeeps and double cabs, less than ten years from the date of manufacture, will be entitled to this benefit,” Rajapakse added. Ensuring growth and meeting emerging opportunities head-on, the company now maintains the largest branch network in the Island, which counts over 310 branches and sales outlets for the General Division. Meanwhile, displaying its commitment towards improving the quality of life of the community and society at large, several CSR projects were carried out by the branches. Blood donation campaigns, temporary refreshment centres providing drinks and short eats for pilgrims who attend religious festivals, helping children and people with specific needs, maintaining hospital wards were some of the activities undertaken by the branches in their respective localities. Ceylinco Insurance enjoys the distinct privilege of being voted for by the Sri Lankan people, as the People’s Insurance Company, for the seventh consecutive year, while it has also been feted with the Gold Award at the National Business Excellence Awards for the past four years. The accolades signify the company’s contribution towards the socioeconomic development of Sri Lanka through the adoption of efficient methodologies and proper business ethics. Thus, Ceylinco Insurance continues to display a high degree of sustainable market competitiveness, while advocating best practices.