Softlogic Life in Asia’s Top 3, Only Sri Lankan Insurer Shortlisted at 29th Asia Insurance Industry Awards 2025

Softlogic Life, has emerged as finalist in two prestigious awards categories at the 29th Asia Insurance Industry Awards (AIIA) 2025: ‘Digital Insurer of the Year’ and ‘AI Initiative of the Year’. This recognition marks another significant milestone in the company’s journey of innovation, placing both Softlogic Life and Sri Lanka firmly on the global insurance stage.

Now in its 29^th year, the Asia Insurance Industry Awards stand as the region’s most respected benchmark of excellence, celebrating outstanding achievements across insurers, reinsurers, brokers, and service providers. The judging process, overseen by a panel of international industry experts, involves rigorous evaluation and peer-reviewed scrutiny, making the shortlist a testament to innovation, impact, and performance.

Softlogic Life’s nomination for Digital Insurer of the Year reflects its pioneering end-to-end transformation of the insurance value chain. By fully digitalizing sales, distribution, claims, and policy servicing, the company has created a seamless customer journey while ensuring strong back-office integration. From instant policy issuance and mobile-first micro-products to the cashless ClaimIT system at 60+ hospitals and a digital OPD platform that settles 97% of claims within a day, Softlogic Life’s digital ecosystem has redefined service delivery in Sri Lanka. These innovations, powered by its 100% digital E-Advisor platform that enables over 70% of policies to be auto-underwritten and online policy issuance within minutes, have accelerated exponential growth in customer acquisition, retention, and satisfaction.

Softlogic Life’s nomination for AI Initiative of the Year reflects its leadership in using artificial intelligence to reimagine insurance not just in Sri Lanka, but across Asia. At the core of this transformation is the groundbreaking InstaClaim model, built on Microsoft Azure, Google Cloud, and custom AI solutions, which has revolutionized claims processing by cutting settlement times from five days to minutes, quadrupling processing capacity per employee, and scaling to manage 180 million OPD claims every month. Today, 35% of all claims are fully automated, while more complex cases are seamlessly managed through human–AI collaboration. Sophisticated algorithms further strengthen trust by ensuring genuine claims are honored, reducing fraud to 2% and duplicates to 8%. Beyond InstaClaim, innovations such as AI-driven pricing models, the Health Score App for proactive health management, and the Lifey virtual assistant for smarter customer interactions have collectively streamlined operations, lowered costs, enhanced engagement and underwriting efficiency. Together, these Digital and AI-powered solutions are delivering faster, more transparent service experiences—empowering over 1.3 million customers with greater confidence and trust in Softlogic Life.

Commenting on the achievement, Softlogic Life Managing Director, Iftikar Ahamed, said:
“Being shortlisted in two major categories at the Asia Insurance Industry Awards 2025 is a proud moment for Softlogic Life and for Sri Lanka. This recognition reflects the relentless effort of our team to harness the power of digital technology and AI to transform the way insurance is delivered. At a time when customer expectations are being reshaped by digital-first experiences, we have proven that Sri Lankan companies can compete and lead on the global stage. We remain committed to pushing the boundaries of innovation to make insurance simpler, faster, and more accessible to every Sri Lankan.”

Being recognized among the top three insurers in Asia is a powerful testament that, for Softlogic Life, technology and AI are far more than buzzwords—they are embedded across the entire value chain to deliver real value for all stakeholders. This approach has been a driving force behind the company’s tenfold GWP growth in just 10 years. In 2024 alone, Softlogic Life achieved a remarkable 71% year-on-year growth in new policies and secured the highest health insurance market share. Even with a substantial increase in claims volume, the company paid the largest and fastest health and protection claims in the industry, without increasing its workforce—demonstrating the full power of tech-enabled efficiency. This relentless focus on customer-centric innovation has led to an industry-leading Net Promoter Score of 68+, alongside 29% GWP growth in 1H2025.

Softlogic Life EVP/Chief Information Officer, Amal Dharmapriya said, “This recognition validates our commitment to building a truly digital-first insurer by embedding advanced technologies across every process. From cloud-native platforms to AI-enabled analytics, our focus has been on creating resilient, scalable systems that deliver speed, security, and reliability for our customers. Being shortlisted amongst Asia’s top 3 at the Asia Insurance Industry Awards reflects the strength of our technology architecture and its impact in driving measurable value across the business.”

“At Softlogic Life, digital and AI innovation is about reimagining the way people experience insurance,” said Saranga Wijayarathne, EVP/Chief Digital Innovation Officer at Softlogic Life. “Our focus has been on simplifying complex processes, personalizing engagement, and delivering instant service in ways that customers—and even the industry—once thought impossible. This global recognition is proof of how our AI and digital platforms are making insurance more intuitive and inclusive, and it reflects our ability to compete with the very best in Asia.”

With over 1.3 million lives protected, Softlogic Life continues to strengthen its position as Sri Lanka’s most progressive and digitally advanced life and health insurer—redefining industry standards through the seamless integration of technology, customer-centricity, and innovation to create meaningful impact nationwide. Its recognition at the Asia Insurance Industry Awards (AIIA) 2025 further cements Softlogic Life’s reputation as a digital trailblazer and trend-setter in Asia’s insurance sector. While the top three contenders have been announced, the final winner—topping the list in Asia—will be revealed in November 2025.