Q. Has Sri Lanka’s insurance sector game plan changed since the pandemic began?

Yes. With the pandemic the value of life insurance enhanced in many ways. Realizing the uncertainty of death people started to look at what they could provide for the dependents in the event of death.

Not only at death if hospitalized due to pandemic the cost of hospitalization also has to be taken into account. Both these circumstances were highlighted by insurance companies and offered many products covering these situations to the market through sales teams and by various sales arms.

In this pandemic situation, our company game plan further changed as we are in a unique position as we are catering to lower-income earners through SANASA societies. We have created the need for life insurance for all the society members and by offering them easy payment methods their desires were fulfilled.

We extended our hospital cash benefit to those who were recommended by medical officers or public health inspectors subject to positive PCR test to be home quarantined and hospital cash benefit was paid without additional premium.