Arpico Insurance PLC, one of the most innovative and trusted Life Insurance providers in the country, and a fully owned subsidiary of the blue-chip conglomerate Richard Pieris & Company PLC, was recently conferred with the Best Strategies for Insurance Spreading – Sri Lanka award at the 4th Emerging Asia Insurance Conclave & Awards 2023, held in Mumbai, India.
Organised by the prestigious Indian Chamber of Commerce (ICC), the Emerging Asia Insurance Conclave & Awards goes onto acknowledge, recognise and honour the achievements of some of the best insurance providers in Asia, and felicitates efforts made to foster and promote the insurance industry in the region.
This ICC special award was granted to Arpico Insurance PLC following a stringent performance evaluation that considered numerous critical factors such as number of branches, growth percentage of agents and brokers, number of policies CAGR, and the embracing of digital initiatives to increase insurance access within society. In addition to Sri Lanka, other participating counties included Bangladesh, Bhutan, Myanmar, Nepal, Thailand and India while the award process, from nomination to selection of winners, was supervised by the process reviewer PriceWaterhouseCoopers (PwC) of India.
Ramal Jasinghe – Chairman, Arpico Insurance PLC, said “This prestigious award is a testament to the dedication and unwavering commitment of our team and their relentless pursuit of excellence. This accolade from the Indian Chamber of Commerce only fuels our determination to continue innovating and achieving greatness together by delivering innovative life insurance solutions to all peoples of our country, which will without a doubt help them better their lives.”
‘‘We are extremely proud of this achievement, both for our organization as well as our country. We have been investing in upskilling our human capital and pursuing several customer-centric strategies to make life insurance accessible for everyone. Our resilience in these trying times and our outlook for the future is commendable and we will continue to strive towards achieving the pinnacle of excellence in the life insurance industry” said Dr. Kelum Senanayake – Chief Executive Officer & Principal Officer, Arpico Insurance PLC.
Nelushan Gunewardena – Head of Marketing, Arpico Insurance PLC, whose efforts paved the way in securing the award for the company, added “This recognition is based entirely on our efforts, achievements and progress made in the strategic area of Insurance Spreading. From our efforts to take life insurance solutions to plantation sector workers and digitizing premium payments to engaging with sub-urban and rural communities through regional sports events, we have undertaken significant initiatives and devoted extensive efforts to promote insurance awareness and accessibility. Furthermore, being evaluated on our achievements by a global heavyweight like PwC reinforces our accomplishments and bears witness to the strong focus and commitment of Arpico Insurance PLC to take life insurance to the masses.”
Arpico Insurance PLC takes pride in remaining committed to provide Insurance for the Living and presently offers a range of world-class risk transfer solutions such as endowment, health insurance, term assurance, education, investment, retirement, group assurance, loan protection and relief plans among others. A subsidiary of Richard Pieris & Company PLC, one of the largest and most successful diversified businesses in Sri Lanka with a history of 90 years, Arpico Insurance PLC is a prominent and respected Life Insurance Company that is regulated by the Insurance Regulatory Commission of Sri Lanka and stands among the top Life Insurers of the country.