Business
SLT wins Gold award at JASTECA awards 2019
From Left; Ms Thilini Amarasinghe (Senior Engineer) and Nandana Niyangama (Manager-OPMC -Kurunegala ) of SLT receiving the award
Sri Lanka Telecom, the National ICT Solutions Provider in Sri Lanka won the Gold award at the prestigious JASTECA, 5S Akimoto Awards ceremony 2019. Sri Lanka Telecom’s, Outside Plant Maintenance Centre (OPMC) Kurunegala won this award under medium category. This awards ceremony was held at Hotel Galadari, Colombo and this was conducted for the 24th consecutive year.
JASTECA Awards ceremony is annually organized by the Japan Sri Lanka Technical & Cultural Association (JASTECA) to recognize and reward the overall performance excellence of organizations, strictly evaluating applicants upon a broad range of criteria as per 5S standards. A large number of companies took part in the 2019 competition as same as previous years.
Business
Union Assurance has entered an ‘exciting’ growth phase with a new brand direction, says CMO
by Sanath Nanayakkare
The Island recently had an interview with Mahen Gunarathna, the Chief Marketing Officer (CMO) at Union Assurance, on the company’s strategic brand direction. He emphasised that it is important to identify and understand the needs of the customers in the evolving landscape and put those needs to the forefront with a customer-centric approach.
The following are some excerpts
from the interview.
Q. Union Assurance has introduced a new brand vision and purpose. Can you share about this new direction?
Yes, Union Assurance is excited to share that we are entering an exciting new phase of growth with a new brand direction. As Sri Lanka’s first private insurer, the company has played a vital role in the nation’s socio-economic landscape for nearly four decades, standing by our people in challenging times and celebrating numerous milestones together. Throughout this journey, our brand custodians have built and maintained a strong and impactful presence, with an impeccable track record—which is no easy feat.
Looking ahead, we recognise that the landscape is evolving, particularly in how our stakeholders expect to engage with us. This awareness has led us to align with a new brand vision: empowering human progress by protecting what matters most. We aim to support individuals on their unique journeys of progress, making life insurance more accessible and simplified. Our goal is to provide them with the strength and confidence to thrive in all aspects of life. We firmly believe that individual empowerment is foundational to national development, acting as a catalyst for economic and social progress.
In line with this vision, we are also excited to introduce a new brand purpose: to protect lives and enrich the well-being of everyone, as we understand that these two tenets are essential for empowering progress. This is why our commitment to strengthening the financial, emotional and physical well-being of all is at the heart of what we do
Q. How do you see the relevance of this direction in today’s market landscape?
Our new direction is shaped by three key drivers: first, we are committed to transforming the life insurance experience by creating a unique presence in the sector that goes beyond traditional practices. Second, we know that today’s customers want brands that resonate with their values and make a meaningful impact, and we are dedicated to meet those expectations with authenticity. Lastly, we draw inspiration from Sri Lanka’s resilience and its ability to overcome challenges, ensuring our approach aligns with the nation’s spirit of progress.
Q. Can you share how this new direction will be brought to life?
At the heart of our operations is our newly defined brand purpose which we are committed to delivering through a fourfold approach. The first component involves a deep dive into market insights. Our research revealed that there is a significant shift in how people are approaching life today. More and more, consumers are increasingly adopting a holistic perspective, emphasising the overall quality of their experiences.
Guided by these insights, we are confident that our purpose is highly attuned to the needs of our customers, ensuring they can enjoy their lives to the fullest, supported by a solid safety net. Within this focus, delivering value by strengthening three key pillars, financial, emotional and physical well-being, is central to fulfilling our purpose. These pillars are not just buzzwords for us–they are fundamental to providing everyone with the opportunity to lead a fulfilling life. We genuinely believe that by supporting individuals in these areas, we can help them thrive in all aspects of their lives.
The second component involves bringing our purpose to life through our commitment to creating awareness. We are passionate about advocating for and educating our customers on various aspects of our well-being pillars to improve the quality of their lives. Our goal is to inspire meaningful behavioural changes through enhanced knowledge and understanding. To achieve this, we have developed a range of resources tailored to our customers. We also understand that even within our main audience, there are distinct micro-segments with unique needs and preferences. That is why we have been intentional about creating customised assets that effectively educate these specific groups. By taking this nuanced approach, we are able to connect more effectively and make a real difference in their lives. We believe that when our messaging resonates on a personal level, it truly inspires change.
Thirdly, we place a strong emphasis on providing actionable programmes and tools that facilitate behavioural changes that are aligned with our awareness-raising efforts. At Union Assurance, we pride ourselves on being at the forefront of innovation in the insurance sector, driven by our commitment to providing customers with best-in-class services. Through innovative technologies, diverse platforms and regional initiatives, we create experiences that enrich lifestyles and equip our customers to navigate their journeys of progress.
A prime example of this is our mobile application, Clicklife. This is the most comprehensive lifestyle and self-empowering app in the industry, with a suite of innovative features designed to help customers enrich their well-being. Among its many novel features, the app includes an AI-driven calorie counter that enables users to measure the nutritional value of their meals. Additionally, it incorporates gamified elements that encourage movement, impacting users’ physical well-being. Our recent addition to the app is the Digital Loyalty Rewards Programme, which is a first of its kind in the industry, allowing users to earn rewards worth millions while ensuring their families’ financial well-being. Ultimately, we believe that by integrating technology with personalised support, we can empower individuals to take charge of their well-being.
Moreover, we recognise the importance of looking beyond just business interests to make a positive impact on society as a whole. That is why we have adopted a strong value-creative strategy focused on enriching community well-being for the betterment of everyone, while also acting as a catalyst for social progress. This commitment is evident in our CSR strategy, where we tackle core issues affecting communities at large and provide nationwide support. One example of this is our flagship CSR initiative, Suwamaga, which addresses the growing concern of diabetes in Sri Lanka. Our comprehensive approach includes raising public awareness, promoting active lifestyles, facilitating early detection and management, and providing tools for community engagement. With its structured framework and ambitious goals, Suwamaga aims to create lasting societal change.
To complete the cycle, the fourth component involves looking at tracking the impact we create. By regular monitoring, we ensure that the value we intend to create has been delivered. We are also in the process of strengthening this robust ecosystem across all its components to ensure our customers have the support they need strengthen their holistic well-being. We’re excited to continue this journey and witness the positive impact it has—not just in empowering individual lives, but in fostering more resilient and progressive communities.
Q. How do you envision the role of technology in taking the Union Assurance brand moving forward?
Technology plays a crucial role in shaping the brand experience in the life insurance industry, and we can break it down into three key areas. First, it enhances our understanding of customer needs and behaviours through data analytics and AI. Such deeper insights allow us to tailor our offerings more effectively, ensuring that we meet our customers where they are.
Second, as media consumption evolves—especially among younger demographics—we need to adapt our communication strategies. While television still has a stronghold in Sri Lanka, there is a growing demand for engagement via social media. By leveraging technology, we can craft seamless omnichannel experiences, connecting with customers across various platforms and making it easier for them to interact with our brand.
Thirdly, technology significantly improves the overall experience customers have throughout their journey. One aspect of it is at the purchase stage. Today’s customers are looking for simplified and easily accessible purchase journeys, often relying on online platforms for product awareness and research. By developing a clear digital strategy to reach specific segments and utilising digital media, we can overcome traditional barriers and engage new customer segments that were previously hard to reach.
Customer service is another critical aspect of the brand experience. Traditionally, life insurance has been seen as less engaging, with minimal interaction after the purchase, except during claims. However, new customers expect higher levels of engagement and value beyond what traditional life insurance offers. To meet these expectations, companies need to leverage technology and digital tools to provide personalised and engaging services. By using digital assets and interactive platforms, we can bridge the gap between customers and the company, fostering stronger relationships and building customer loyalty.
Business
NSB honoured as one of the Most Outstanding Corporates in Sri Lanka
The National Savings Bank (NSB) proudly stands among Sri Lanka’s most exceptional corporates, as recognized at the esteemed 30th anniversary celebration of LMD. This grand event took place recently, at the Lumina Ballroom, Cinnamon Life Hotel, bringing together leading business and industry figures for an evening dedicated to honoring three decades of corporate excellence.
The award was accepted by Dr. Harsha Cabral PC , Chairperson of NSB, on behalf of the Bank. This accolade is a testament to the Bank’s enduring dedication to innovation, customer service, and consistent contributions to Sri Lanka’s economic growth. The recognition highlights NSB’s pivotal role not only within the financial services sector but also as an influential leader in the broader corporate landscape.
Over the years, NSB has achieved numerous milestones, gaining significant recognition in the annual publications produced by LMD. These publications are known for their rigorous analysis and benchmarking of corporate performance across various industries. Noteworthy among LMD’s series are:
Business
SLT-MOBITEL recognised as the Fastest 4G Mobile Network by Ookla®
Reaffirming its commitment to providing fast and superior network user experience in Sri Lanka, SLT-MOBITEL Mobile has once again been recognised as Sri Lanka’s fastest 4G mobile network by Ookla®, the global leader in fixed broadband and mobile network testing applications, data, and analysis.
SLT-MOBITEL was recognised by Ookla®of Speedtest Intelligence® data as the Fastest 4G LTE Network in Sri Lanka for the first half of 2024, cementing its position as the undisputed leader in mobile network performance and superior user experience. The achievement highlights the company’s dedication to excellence in digital infrastructure in the country, aligning with the growing demand for reliable mobile services and catering to the ever-evolving digital needs of both retail and corporate consumers.
Setting a benchmark in the market, SLT-MOBITEL was previously acknowledged as the fastest mobile network for three consecutive years in 2019, 2020, and 2021 by Ookla® Speedtest Intelligence® data.
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