Softlogic Life: Redefining Insurance Through People, Access, and Trust

When Sri Lanka’s life insurance sector seemed slow to evolve, Softlogic Life chose a different path. In just a decade, the company has grown tenfold, becoming one of Sri Lanka’s most valuable brands and protecting 1.3 million lives. The formula? A mix of people, innovation, and a relentless focus on trust.

A Three-Pronged Distribution Model

At the center of this transformation is a distribution model unlike any other in the industry. Rather than relying on a single channel, Softlogic Life built scale by diversifying access:

• Agency Force: The backbone of growth. Softlogic Life strengthened and modernized its agency force, equipping thousands of advisors with digital tools, training, and a customer-first culture. Agents remain the face of the business, bringing insurance into homes, communities, and workplaces nationwide.
• Bancassurance & Corporates: Partnerships with banks and corporates extended reach to employee groups through credit life and group health offerings, making insurance accessible at scale.
• Micro-Mobile Platforms: Collaborations with Dialog Axiata and Sri Lanka Post enabled coverage for as little as Rs. 50, collected through mobile bills, opening doors for low-income families who had been left out of traditional insurance.

“Our goal is to make protection more accessible, proactive, and seamless,” says Managing Director Iftikar Ahamed. “Everything we do whether through technology, claims service, or product design is anchored on the customer”

This three-pronged approach has allowed Softlogic Life to reach every segment of society from daily wage earners in villages to executives in multinational corporations making it the largest insurer by customer base.

Speed and Trust Above All

Insurance is built on one question: When the time comes, will my claim be honored? Softlogic Life answered this by setting a bold standard: 80% of claims settled within 24 hours.

In 2024, the company paid Rs. 11.1 billion in health and protection claims, the highest in the industry, with the majority processed in a single day. Technology made this possible. Softlogic Life became the first in Sri Lanka to process a claim entirely through AI, while automating everything from medical verifications to maturity payments.

The speed, transparency, and fairness of the claims process have not only redefined customer trust but also reshaped the perception of the entire industry.

Health at the Core

While Softlogic Life offers a broad portfolio, health protection remains at the center. This commitment was most evident during the pandemic, when thousands of COVID-related claims were settled swiftly. 

Today, Softlogic Life is Sri Lanka’s dominant health insurer, holding market share that traverses micro-health plans to comprehensive corporate cover, the company ensures protection is accessible across every income level.

In 2024, the company paid Rs. 11.1 billion in health and protection claims, the highest in the industry, with the majority processed in a single day. Technology made this possible. Softlogic Life became the first in Sri Lanka to process a claim entirely through AI, while automating everything from medical verifications to maturity payments

A Rising Brand

This customer-first approach has earned global recognition. In 2025, Softlogic Life climbed 12 places to 33rd in the Brand Finance 100 Most Valuable Brands in Sri Lanka, with brand value rising 94%.

The company has also drawn attention from global investors such as NorFund, FinFund, and LeapFrog Investments, who highlight Softlogic Life as a standout for innovation, impact, and scale.

Looking Ahead

Despite these achievements, Sri Lanka’s life insurance penetration remains low compared to global benchmarks. For Softlogic Life, that gap represents a national opportunity.

“Our goal is to make protection more accessible, proactive, and seamless,” says Managing Director Iftikar Ahamed. “Everything we do whether through technology, claims service, or product design is anchored on the customer.”

The Promise That Matters

As the country marks National Insurance Day, Softlogic Life’s story is more than a corporate success. It is proof that with the right balance of people, access, and innovation, an industry can be reshaped.

Insurance is not about policies or premiums, it is about a promise kept, trusted today by 1 in every 6 working Sri Lankans.