Business
Insurance Industry in fast mode to create value to the emerging needs of the modern consumer
The Insurance Association of Sri Lanka (IASL) commemorates ‘Insurance Month’ in September every year along with the enthusiastic participation of its member companies.1st September was declared as National Insurance Day by the Government of Sri Lanka in 2017. Commencing this year’s Insurance Month from 1st September, IASL will drive its awareness campaign under the theme ‘Staying aware is staying protected’, to stress the importance of insurance protection as an essential safety net in the event of unprecedented crises as was experienced during the pandemic and the economic crisis.
The industry is committed to adopt to new trends and best practices of the global insurance industry. Latest being the IFRS17 (International Financial Reporting Standard) which is an accounting standard that will fundamentally change the financial reporting of the industry. The Sri Lanka Insurance industry will go live with this system in January 2025.
As the apex body of the insurance industry in Sri Lanka, IASL harnesses all its resources to champion the significance of insurance amongst the general public across many communication platforms, including electronic, print, digital and social media. The insurance industry fields a vast sales force which also promotes insurance amongst the general public. Insurance advisors representing all Insurance companies will be carrying out special awareness programs across the Island to create awareness on the importance of being insured during the month of September.
Commenting on the Insurance Month in September, Razik Zarook P.C, Chairman of the Insurance Regulatory Commission of Sri Lanka says: “In response to changing market conditions and emerging technologies, the insurers will need to adopt transparent, consumer-centric practices, ultimately fostering trust, and offer innovative and flexible products that meet the evolving needs of consumers.”
“In the face of the unprecedented challenges encountered in recent times, the insurance industry has demonstrated its unwavering commitment to serve society with resilience, empathy, and innovation. Today, the insurance industry is meeting the emerging needs of the population by keeping in mind the evolving economic situation. Whether it was the devastating impacts of economic instability, natural disasters, a global pandemic that affected us all, or the ever-evolving risks in the digital landscape, the insurance industry has displayed remarkable adaptability”, says Damayanthi Fernando, Director General of the Insurance Regulatory Commission of Sri Lanka.
The President of the Insurance Association of Sri Lanka, Chandana L. Aluthgama firmly believes that awareness on the importance of Insurance among the general public is key for people to identify insurance as a priority. “We believe that every citizen in this country needs to be insured and we work tirelessly to make it a reality as individual companies and as an industry,” he says.
“Whilst we firmly believe that ‘Insurance for All’ should be a mandate to safeguard the people of the country, we also see the Insurance industry being a catalyst in creating job opportunities and empowering the people of the country”, says Namalee A. Silva, Chairperson – Marketing and Sales Forum, Insurance Association of Sri Lanka.
This year’s Insurance Month has drawn up an exciting events calendar and IASL invites the general public to use this month to gain more knowledge about how insurance can secure their financial future and peace of mind.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.
The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.
The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.
A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.
“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “
The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.
By Sanath Nanayakkare
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.
The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.
Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.
The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.
The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.
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