Connect with us

Business

InsureMe debuts on CSE Empower Board

Published

on

(Left – Right): Nilupa Perera – CRO, Colombo Stock Exchange (CSE); Duneeka Prashanthi – Chief Operating Officer, InsureMe Insurance Brokers Limited (InsureMe); Niranjan Manickam – Director, InsureMe; Indika Prematunga – Director, InsureMe; Dayamathi Fernando – Director General, Insurance Regulatory Commission of Sri Lanka; Vipula Dharmapala – Director & CEO, InsureMe; Rajeeva Bandaranaike – CEO, CSE; Prajeeth Balasubramaniam – Chairman, InsureMe; Rohan Senewiratne – Founder & Managing Director, Atarah Capital (Pvt) Ltd; Randeewa Malasooriya – Director, InsureMe; and Renuka Fernando, Chairperson of Dialog Finance PLC.

InsureMe Insurance Brokers Ltd successfully completed its Equity Introduction and subsequent listing on the Empower Board of the CSE recently marking a significant milestone for a local digital-first enterprise.

InsureMe Insurance Brokers Ltd (InsureMe) rang the market opening bell at a market opening ceremony, held at the CSE’s iconic Trading Floor, to commemorate its landmark listing on the Empower Board. highlighting InsureMe’s commitment to digital transformation and its success as a rapidly growing Insure-Tech firm leveraging the capital market for growth.

Founded in 2016 as startup, InsureMe is a digital insurance aggregator and a fully licensed broker regulated by the Insurance Regulatory Commission of Sri Lanka (IRCSL) with a digital-first operating model supported by online assistance and end-to-end digital claims support, operating with advanced platforms such as DigiEye (Motor Claims Automation), DigiMed (Medical Claims Automation), and DigiEx (Corporate Expense & Reimbursement Automation).

Delivering the welcome address at the event, Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange, congratulated InsureMe on their successful listing. Remarking upon the occasion and InsureMe’s role as successful startup leveraging the capital market, he stated: “InsureMe is one of the very few startups in Sri Lanka making a debut on the Stock Exchange and as the sixth company on the Empower Board and is an innovator in the technology start up space. We are happy to see companies such as InsureMe involved in the IT sector making use of the capital market. When we set up the Empower Board, this is precisely what we had in mind.”

Prajeeth Balasubramaniam Chairman of InsureMe Insurance Brokers Ltd also remarked the companies list, remarking: “This listing represents far more than a financial achievement; it signals strong confidence in Sri Lanka’s burgeoning startup ecosystem and urges us all to aim higher. It demonstrates how visionary teams, armed with essential resources and guidance, can reshape industries and alter the national narrative. “

Also speaking the event Vipula Dharmapala, CEO and Director of InsureMe Insurance Brokers Ltd discussed the companies’ journey, stating: “InsureMe began almost a decade ago when my co-founders and I set out to give Sri Lankan customers the same transparent and convenient digital insurance experience enjoyed in other markets. Guided by our vision of ‘Insurance Made Easy’, we have grown through continuous innovation, digitising policy access, enabling online insurance claims, and developing advanced claims-automation solutions now being deployed in Sri Lanka and overseas.”

The capital raised through the listing is expected to strengthen InsureMe’s capital base and support its strategic expansion into cutting-edge technology adoption, product diversification, and enhancing its digital platform for seamless customer service. These initiatives are aligned with its goal of becoming the most preferred digital insurance intermediary in the country, fostering greater insurance penetration through easy-to-use digital channels.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Advocata Institute highlights regulatory barrier limiting women’s overtime earnings

Published

on

Advocata Institute says that, a regulatory barrier prevents Sri Lankan women achieving pay parity with their male counterparts despite recent legislative amendments that have opened doors for women to work night shifts.

Despite the 2024 and 2026 liberalizations of the Shop and Office Employees Act (SOEA), which allowed women over 18 to work night shifts in IT, BPO, and hospitality sectors, women remain legally barred from maximizing their income due to rigid overtime restrictions.

Under current regulations, women cannot be employed under the Shop and Office Act for more than nine hours per day, a limit that strictly includes overtime. While Regulation 6 of the Act permits up to twelve hours of overtime per week, this daily “hard cap” creates a practical barrier that prevents women from accessing the full overtime entitlement available to male workers. This creates a regulatory paradox: while the law now permits women to work at night, it simultaneously restricts them from working the hours necessary to take home the same pay as a man performing the same role.

The urgency for reform is underscored by the Sri Lanka Labour Force Survey for the third quarter of 2025, which reveals a significant participation gap. Female labour force participation stands at 33.9 percent, compared to 68.6 percent for men. Closing this gap is a key structural reform priority under Sri Lanka’s International Monetary Fund Extended Fund Facility (EFF) programme, which highlights the importance of modernizing labour laws to expand labour supply and support long-term economic growth.

Debates on reforming these restrictions are often framed around the concern that removing gender-specific protections could expose women to exploitation. However, a woman’s vulnerability in the labour market is shaped less by the absence of gender-specific laws and more by structural challenges such as inadequate public transport, poor workplace infrastructure, weak enforcement of law and order, and limited access to childcare.

Addressing these underlying barriers is critical to ensuring both protection and opportunity. True empowerment requires shifting the focus from paternalistic hour-caps to creating a safe, gender-neutral environment that allows women the agency to maximize their earnings and contribute fully to the national economy.

Continue Reading

Business

Drifting lubricant barrels trigger oil spill on southern coast; 99% of clean-up completed

Published

on

Samantha Gunasekara

Authorities have traced the oil contamination reported along sections of the Hikkaduwa and Peraliya coastlines in the Galle District to drifting barrels of industrial lubricant, while rapid response teams have already removed almost all visible oil deposits from the affected beaches.

The Marine Environment Protection Authority (MEPA), together with the Sri Lanka Coast Guard, launched an immediate response after oil patches were detected along about a 20-metre stretch of coastline in the Hikkaduwa and Peraliya areas.

Addressing a media briefing at the Ministry of Environment, MEPA Chairman Samantha Gunasekara said emergency shoreline clean-up operations began on March 7 under the instructions of Environment Minister Dammika Patabendi.

“Nearly 99 percent of the oil patches have already been cleared from the affected coastal stretch,” Gunasekara said, adding that the swift intervention by authorities had prevented the incident from escalating into a wider marine pollution crisis.

Investigations carried out by MEPA have confirmed that the contamination originated from barrels containing Shell Corena S2 P 100 lubricant oil that had apparently been lost at sea and later drifted ashore.

The lubricant manufactured by Shell plc is commonly used to lubricate the internal components of reciprocating piston air compressors. Officials said the substance is not classified as a hazardous or toxic oil, easing initial fears of severe environmental damage.

MEPA General Manager Jagath Gunasekara said monitoring of the coastline was continuing to ensure that no additional oil patches washed ashore.

Meanwhile, the Department of Wildlife Conservation said there had been no confirmed reports of harm to marine animals, including sea turtles and coastal wildlife, following inspections in the affected areas.

Wildlife officials said they were continuing to keep the situation under close observation to ensure that marine fauna along the southern coast remained safe.

Authorities stressed that protecting the ecological integrity of the southern coastal belt—particularly around the Hikkaduwa marine area—remains a priority, while further investigations are under way to determine how the lubricant barrels ended up drifting in Sri Lankan waters.

By Ifham Nizam

Continue Reading

Business

Support for psychological well-being: Launch of telemedicine psychology program in response to Ditwa Cyclone

Published

on

The Sri Lanka College of Psychiatrists has launched an innovative telemedicine psychology program designed to provide essential support and mental health care to individuals adversely affected by the Ditwa Cyclone. This initiative is a vital response to the psychological challenges faced by the community in the aftermath of the disaster.

However, the implementation of this program has faced significant obstacles, primarily due to a considerable lack of access to smart devices among the target beneficiaries. Recognizing the urgency of this situation, S-lon Lanka (Pvt) Ltd has made a commendable contribution by donating tablet devices through its corporate social responsibility initiative, the “Suwasahana Charika” Program. This generous donation aims to bridge the technological gap, ensuring that individuals in need can access the psychological services offered by the telemedicine program.

The collaborative efforts were strengthened during a recent event that was attended by key figures, including Mr. S.C. Weerasekara, the Group Director / Chief Operating Officer of The Capital Maharaja Group, and Dr. Dashanthi Akmemana, the Chairman of the Sri Lanka College of Psychiatrists.

The Sri Lanka College of Psychiatrists expressed its gratitude to S-lon Lanka for its support and is committed to addressing the community’s mental health needs during this challenging time.

Continue Reading

Trending