In a strategic partnership with CH17 Loyalty, Softlogic Life, the fastest growing life insurer in Sri Lanka, has introduced a comprehensive life policy with many lifestyle benefits as a value addition to the Ransalu Privilege program, a focused welfare scheme aimed at providing relief and reward for staff and employees in the apparel sector.
“We have been successful in co-designing a life policy with an affordable premium with the convenience of an easy payment scheme bundled with merchant discounts and privileges from the Ransalu partner merchants” Jumar Preena CEO and Founder of CH17 Loyalty announced. “What we have presented to our employees is essentially what they want; A life time solution that meets all the critical needs which is affordable” he added.
Softlogic Life has gone beyond the boundaries of providing financial relief during an emergency. In this policy, financial support is guaranteed at times of untimely death of any immediate family member, the parents as well as the parents in law. They will also have the opportunity of making payments on a monthly or annual basis depending on their financial stature. The monetary savings the cardholder and their family will enjoy through Ransalu discounts alone could meet the necessary insurance obligations.
“This is an industry first, where life insurance has been coupled as a lifestyle product along with other privileges from partner merchants. As a truly Sri Lankan brand looking to uplift the quality of lives of Sri Lankans, we are very happy to go above and beyond the usual industry norms to do our best to ensure that our fellow Sri Lankans are presented with necessary financial stability” Stated Thilanka Kiriporuwa, the Chief Corporate Services Officer of Softlogic Life who is also the head of the micro insurance channel.
Ransalu Pranaama is the flagship program undertaken by CH17 Loyalty under the supervision of the Joint Apparel Association Forum (JAAF) the apex body for the sector.
Launched in 2013, the program has benefitted more than 131,000 employees across different companies in the apparel manufacturing and export business. Companies such as MAS Holding, Brandix Group, Hirdaramani Group, Omega Group, Sirio, Benji, Star Garments, Alpha, Eskimo, NEXT, Quantum Clothing have enrolled their staff in large numbers to date.
Softlogic Life Insurance PLC is a subsidiary of Softlogic Capital PLC and is part of the Softlogic Group, which is recognized as one of Sri Lanka’s most diversified and fastest- growing conglomerates with interests in Healthcare, Retail, ICT, Leisure, Automobiles and Financial Services. Significant stakeholders in the company include global investors; DEG and Leapfrog Investments.