Amana Takaful Insurance stands out as a distinguished body in the Insurance Industry. They have steadfastly adhered to their lofty ideals and, over time, have derived strength from diversity, enlisting all communities in Sri Lanka in their customer portfolio to provide competitively superior financial solutions while collaborating with their valued business partners. With a two-decade track record of success and evolution, Amana Takaful Insurance is on a mission to lift the burden of those who have suffered unanticipated financial losses.
Shehan Feisal, the Chief Executive Officer of Amana Takaful General Insurance, is a dedicated, experienced and goal-oriented insurance professional with over two decades of experience. A Royalist at heart, he ventured into insurance approximately 27 years ago.
Amana Takaful Insurance has been in business for 23 years, making it one of the industry’s oldest companies. In light of this, when asked how the company has progressed and what plans he has for the year 2022, Shehan states the company’s most significant wave of changes occurred in the year 2020 in terms of management and many other areas such as internal staff, processes, and digitalization. These improvements brought the company to a “new beginning” in 2021.
He also discusses how the company had a brand refresh at the start of the year 2021. By developing new products, the company looked into every product and service to make it more customer-centric. In addition, they’ve made a lot of technological advancements and have been very active on social media in spreading the word about their products. According to Shehan, despite all of these changes, the year 2021 has been a huge success for Amana General, especially in terms of sales growth (i.e. Gross Written Premiums), not to mention that there are also many new items in the works, which will be revealed as time goes on.
When asked if the game plan for Sri Lanka’s General Insurance market has changed since the pandemic began, Shehan expresses that the industry has faced numerous obstacles in the past, be it the Tsunami in 2004, the floods in 2016 & 2017 and the current pandemic. Insurance firms have remained resilient and adaptable throughout all of these occurrences and continued to address all issues. As a result, the insurance industry has managed to adapt to changing circumstances and, despite difficult times, has been able to find opportunities to keep the industry growing.
However, according to Shehan, one of the lessons learned from the pandemic is that insurance companies must adapt and develop in response to market conditions. They must be adaptable and understand the needs of their customers, as insurance businesses’ goods and services should be customer-centric and tailored to specific scenarios. Also, technical advancements are pivotal, as the backend cannot work unless it is prepared to deal with changing demands. As a result, it’s critical to ensure that services and products are easily accessible to clients at this time. “We are not here for one segment of the people. We are here for everybody “, added Shehan, looking forward to being further involved in the business of making living a little easier, with minimal risks.