Transforming the industry with absolute innovation InsureMe pioneers the dawn of the digital age within the field of insurance in Sri Lanka. With its state-of-the-art Insurance Marketplace app and website, it brings a seamless and efficient way for consumers to compare and buy insurance policies.
InsureMe is the brainchild of Vipula Dharmapala and Indika Prematunga, the pioneering founders of InsureMe and they are backed by a strong Leadership team consisting of Niranjan Manickam, Anjana Somathilake and Duneeka Prashanthi. As a whole this top management team has a combined 90+ years of experience and expertise in the insurance industry. InsureMe Insurance Brokers (Pvt) Ltd was founded in 2016 with a broad vision of making the purchase of insurance easy and reaching untapped segments of people by being innovative. The core premise was that the system and process of obtaining insurance in the country was very traditional and so a new paradigm would be greatly appreciated by all. It was time to be forward thinkers and bold movers in the insurance space while leveraging on technology.
Having identified the lack of globally accepted digital tools in the current insurance landscape, their initial goal was to use their knowledge and create a platform that would enable customers to choose the most suitable insurance package in the market that fulfills their specific needs. Thus, InsureMe became the first company in Sri Lanka to introduce an insurance comparison platform to change the way you buy insurance and now has brought over 6 insurance companies to one marketplace, allowing Sri Lankans to compare and choose the most suitable, affordable and convenient insurance products for themselves. In addition, InsureMe plays a leading role in providing insurance services required by all types of large, medium or small business entities in the country. Their easily accessible and straightforward website greatly reduces the hassle of having to manually compare policy covers from various insurers to see which is best, making the entire process much more convenient.
In 2018 Dialog Axiata Digital Innovation Fund decided to invest in the company and this boosted the position of the organization and it started to become widely accepted as the best place to compare insurance packages. The marketplace created on their website was within easy reach to both individuals and corporations and soon blossomed from being just a site that compared insurance packages to offering other tech solutions and services through its subsidiary entities.
Despite the recent economic crisis and the entire system of the nation being incredibly turbulent, InsureMe doubled the volume of business handled by them, surpassing Rs 2 Billion in Premium Income. The future indeed looks bright for the organization with many accolades expressed by its clients and well-wishers as it forms deeper roots in the industry, while establishing a stable infrastructure focused on growth and expansion.
This kind of excellence cannot be achieved without having the backing of a strong team. The individuals at InsureMe are creative, dedicated and are not afraid to constantly question the status quo, willingly challenging themselves to be innovative and different. The team creates a foundation based on research which serves as the cornerstone that formulates their strategic plan, aligned execution using creative communication, paying attention to details and leveraging the relationships built with their networks, to ensure their product distribution and services reach the desired targeted customers.
While InsureMe is able to offer round the clock service through its digital platforms they are also geared to respond to consumer needs relating to all aspects of insurances including customer inquiries on best fit solutions or independent technical advisory service. In the recent past they, through other entities within the group, have broad based their operation into developing tech tools that enhance customer experience for the industry. Their latest innovative venture is their new app called “DIGIEX” which is an end-to-end mobile app based digital platform for companies to manage benefit payments to their employees and suppliers. The app includes features that facilitate paperless reimbursement on medical claims and real time on-site motor insurance claims reporting, which makes life a lot more convenient and hassle free for the users with the streamlined process being a user-friendly experience.
When asked about the key challenges faced by the senior management in the country, they responded by stating that the key challenge is sourcing and expanding the team with proper talent and skills, as they felt this was imperative for success. They opined that startups are always questioned and often doubted during the initial stages, but even though they too were underestimated they have proven today that with a passionate workforce aligned in achieving the same goals processes run a lot smoother and more efficiently, they are able to impact the future of insurance in the country in a positive manner through their hard work and dedication.