In a ground-breaking move to offer protection to Sri Lankans, Union Assurance, being at the forefront of digitalisation, has partnered with Sri Lanka’s leading digital banking experience, FriMi, powered by Nations Trust Bank. This initiative revolves around the company’s Clicklife Online Product. By unleashing a new-age insurance experience based on convenience and accessibility, it will enrich lives while empowering the Sri Lankan dream.
The unique partnership opens the path to purchase the Clicklife Online Product through the Lifestyle section within the FriMi app in just a few minutes, effortlessly. A revolutionary product, Clicklife is 100% paperless and is the easiest and most affordable way to buy insurance. It offers protection up to Rs. 4 million, starting from just Rs. 23 per day.
Chief Bancassurance Officer of Union Assurance, Vindya Cooray described the partnership with FriMi as a digital alliance that will expand the scope of Life Insurance in Sri Lanka. “Customer-centricity has always been at the heart of our brand ethos, and with this initiative, we offer a whole new experience based on digital possibilities,” she said.
According to Ms. Cooray, the partnership is a springboard to popularise Life Insurance across Sri Lanka. She felt that the accessibility it offers through the Clicklife Online Product will pave the way for protection among broad segments of the population. “This is the newest milestone in our digitization process, and we will keep leveraging technology to offer customers an industry-leading digital experience,” she emphasized.
Union Assurance already has a strategic bancassurance partnership with Nations Trust Bank, and this new initiative with FriMi will further strengthen their alliance.
Randil Boteju, Senior Vice President of Digital Banking and Acquisition at Nations Trust Bank, said both the bank and Union Assurance share a common vision to deploy digital innovations for the benefit of customers. “Our collaboration will bolster the business growth of both organizations and bring ease and convenience to the lives of customers, while driving a digitally- enabled economy,” he added.
The new initiative facilitates access to insurance in these uncertain and challenging times. With traditional physical interventions facing practical issues, it enables Union Assurance, which has blazed a trail in digitization, to offer a continuous service without interruption. It fulfils a timely need in providing a seamless digital experience.
Union Assurance is a part of the John Keells Group. It is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalisation of Rs. 17.9 Bn, a Life Fund of Rs. 49.7 Bn and a investment portfolio of Rs. 58.5 Bn as of March 2022. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover education, health, investment, protection, and retirement needs of Sri Lankans. With an over 3,000-strong workforce, the Company has been recognised as a Great Place to Work© for nine consecutive years. Union Assurance continues to invest in people, products, and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry, with being the number one for Million Dollar Round Table (MDRT) in Sri Lanka in 2021.
Image caption – Left to Right – Dilshan Palihakkara (Manager Insurtech – Union Assurance), Mahen Gunarathna (Chief Marketing Officer – Union Assurance), Harsha Senanayake (Chief Information Officer – Union Assurance), Vindya Cooray (Chief Bancassurance Officer – Union Assurance), Randil Boteju (Senior Vice President – Digital Banking and Acquisitions at NTB), Sanjaya Senarath (Chief Marketing Officer – NTB), Malshini Punchihewa (Manager – Commercial at NTB), Dilshan Mathew (Deputy Manager – Strategic Business at NTB), Mahesh Mendis (Assistant Vice President – Bancassurance Retail Banking at NTB).