News
LOLC General Insurance disrupts industry with first-ever lifestyle motor insurance product ‘Honours’
LOLC General Insurance PLC (LOLC GI), one of the fastest-growing General Insurance companies in Sri Lanka is disrupting the general insurance industry by making motor insurance a lifestyle product with its unique loyalty program ‘Honours’ with rich rewards, in addition to unveiling its first ever Electronic Point-of-Sale (ePOS) – the digital policy issuance network. LOLC GI’s new lifestyle loyalty program ‘Honours’ is crafted with seamless and delightful experiences that provide consumers with real value.
Loyal customers will be grouped into four (04) tiered multilevel memberships such as Classic, Silver, Bronze and Platinum and continuously rewarded with benefits every day. The rewards scheme is applicable for all LOLC GI Motor Policyholders who will receive valuable discounts and benefits through the loyalty partner network – Channel 17 (CH17).
The first ever ‘reward-back’ program offers customers a cash back scheme operated by way of merchant discounts/loyalty points, which LOLC GI believes will offset the cost of customer insurance premium and more. Loyalty points may be accumulated through the partner merchant network and can be redeemed towards a customer’s own policy renewal or contribute to a social cause.The Honours program will unveil the widest insurance loyalty platform in Sri Lanka, with a reach of over 1,000 partner locations. Simple, yet descriptive, ‘Honours’ the Loyalty Program reflects an eco-system designed to fuel a sustainable business model during challenging economic times.
LOLC GI understands the difficulties faced by customers due to the current situation and that of the merchants who are also constrained due to inflation and current macro-economic factors.Seeking to support both stakeholders recover, LOLC General Insurance strives to protect its customers and to help the Sri Lankan business sector. Thus, ‘Honours’ has been designed not as a usual loyalty platform, but a strategic eco-system built to benefit motor policyholders whilst ensuring SME businesses and other business entities in Sri Lanka remain active.
Customers can accumulate ‘Honours’ loyalty points while transacting with any of the merchants within the network and are free to redeem points through selective partners or during their policy renewal. Going further, ‘Honours’ enables its policyholders to donate the accumulated points to LOLC’s humanitarian program ‘Divi Saviya’ aimed at protecting families affected by the Sri Lankan economic crisis. Honours is a comprehensive network, designed to self-sustain and protect Motor policy holders, SME’s, Shareholders, Employees and citizens of Sri Lanka.
Further, LOLC GI firmly believes that going digital is the way forward to minimise the strain on the economy. Digital products are easy to transact, less costly to distribute and demands less resources unlike traditional channels. LOLC GI’s Electronic Point-of-Sale (ePOS) solution offers enhanced convenience and process simplification.
Customers are provided their policy in under five (05) minutes, with the added advantage of real time policy processing and involving zero paperwork. Delivering an end-to-end solution, the ePOS enables Digital Certificates, Proposals and real time premium settlements. Due to the company’s expanded reach, over 250 ePOS Centres are located islandwide and easily accessible to customers.
Firmly believing that insurance should be a product which is easy to comprehend to the end customer, LOLC GI aspires to increase the user-friendliness of its products for its customers throughout the policy life cycle and launches its journey towards an ergonomic policy design platform know as ‘Build Your Own’ (BYO).
BYO offers a unique intuitive quotation design, for easy customer reference across different motor insurance products and concepts including tailor-made insurance solutions to fit each customer’s wallet. Additional features of the platform include product comparison, the widest range of add-on covers and a free LOLC Credit Card with easy payment plans, (subject to eligibility).
LOLC General re-launched its motor insurance brand positioning itself as LOLC Motor Insurance ‘Benefit Everyday’, driven by the Honours Loyalty Program, the EPOS digital solution and the BYO platform, perfected to offer benefits daily to Sri Lankans as the only lifestyle motor insurance brand in the country.
Indian Prime Minister Shri Narendra Modi departed today (06) from Air Force Base Anuradhapura concluding his State visit to Sri Lanka. The Indian Premier embarked on a tour to Sri Lanka at the invitation from President Anura Kumara Disanayake.
This visit underscores the enduring relationship encapsulated by the theme “Friendship of Centuries, Commitment to a Prosperous Future,” further solidifying the bonds between India and Sri Lanka.
This marks Prime Minister Modi’s fourth visit to Sri Lanka, which has further enhanced the economic, cultural, and historical relations between the two nations, while also reinforcing their multifaceted partnership. This visit by the Indian Prime Minister reinforces Sri Lanka’s important role in India’s “Neighbourhood First Policy” and ‘MAHASAGAR’ vision concerning diplomatic relations.
This state visit is anticipated to yield significant results on various collaborative initiatives, fostering a path towards mutual growth and development. The citizens of Sri Lanka will soon be able to witness the fruitful outcomes of these partnerships, and Indian Prime Minister Shri Narendra Modi’s visit will mark a significant milestone in the government’s pursuit of sustainable development focused on the needs of the people.
Accompanying Indian Prime Minister Modi were Indian External Affairs Minister Dr. S. Jaishankar, National Security Advisor Ajit Doval, Foreign Secretary Vikram Misri and a delegation of senior officials from the Indian government.
[PMD]
Latest News
President Dissanayake and Indian PM Modi jointly commission upgraded Maho-Omanthai railway line & Maho-Anuradhapura railway signalling system
The upgraded Maho–Omanthai railway line and the newly installed Maho–Anuradhapura railway signalling system were officially commissioned by Indian Prime Minister Shri Narendra Modi and President Anura Kumara Disanayake today (06)
The Prime Minister of India is currently visiting Sri Lanka at the invitation of President Anura Kumara Disanayake, reinforcing the longstanding bond encapsulated in the theme “Friendship of Centuries Commitment to a Prosperous Future” between the two nations.
Highlighting one of the key aspects of this visit, the two leaders participated in these inaugural ceremonies. The President and the Prime Minister of India jointly unveiled the commemorative plaque and commissioned the railway line and signalling system.
The upgraded Maho-Omanthai Railway Line project was carried out with funding through the Indian Credit Line, totalling an investment of US$ 91.27 million. The Maho–Anuradhapura railway signalling system, established as a result of President Disanayake’s recent visit to India, was funded by the Indian Government at a cost of USD 14.89 million.
[PMD]
Latest News
Prime Minister Modi and President Dissanayake pay homage to the sacred Jaya Sri Maha Bodhi
Indian Prime Minister Shri Narendra Modi, currently on a State visit to Sri Lanka, along with President Anura Kumara Disanayake paid homage to the sacred Jaya Sri Maha Bodhi in Anuradhapura this morning (06) and received blessings.
Following his visit to the sacred site, Prime Minister Modi proceeded to the Udamaluwa, where he met with the Chief Incumbent of the Atamasthanadhipathi and Chief Sanghanayake of Nuwarakalaviya, Most Venerable Dr. Pallegama Hemarathana Nayaka Thera, for a cordial discussion.
During the meeting, the Prime Minister shared that relics of the Buddha were discovered in excavations conducted in his home state of Gujarat during the 1960s. He further stated that he would discuss with the President of Sri Lanka the possibility of exhibiting these sacred relics in Sri Lanka.
Responding to a request made by the Atamasthanadhipathi to develop Bodh Gaya as a spiritual city, Prime Minister Modi assured that he would take the necessary steps after discussions with President Disanayake and work towards making it a reality.
The Maha Sangha, led by the Atamasthanadhipathi, chanted Seth Pirith and invoked blessings on the Indian Prime Minister.
The Indian Prime Minister also left a commemorative note in the special guest book at the site. In addition, he formally declared open the newly constructed ‘Makara Thorana’ within the Jaya Sri Maha Bodhi premises.
The occasion was also attended by Chief Incumbent of the Ruwanweli Maha Seya Temple Ven. Ethalawetunawewe Gnanathilaka Thera and other Atamasthana Viharadhipathi Theras, Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath, Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, Minister of Health and Mass Media Dr. Nalinda Jayatissa, North Central Province Governor Wasantha Jinadasa, Indian High Commissioner Santosh Jha and others.
[PMD]
Indian Prime Minister Shri Narendra Modi concludes State Visit to Sri Lanka
President Dissanayake and Indian PM Modi jointly commission upgraded Maho-Omanthai railway line & Maho-Anuradhapura railway signalling system
Prime Minister Modi and President Dissanayake pay homage to the sacred Jaya Sri Maha Bodhi
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