Sri Lanka’s second largest life insurer Softlogic Life was recently honoured as South Asia’s best private sector insurance company, at the coveted South Asian Business Excellence Awards 2022. 

The awards ceremony, held in Dhaka, bestowed Sri Lanka’s number one health insurance company with two accolades − Best Insurance Company (Private Sector) and Best Use of IT and Technology − for embracing creativity and disruptive innovation amidst the ongoing macroeconomic challenges to sustain business growth, elevate industry standards and improve the quality of life of Sri Lankans. 

Celebrating the best of South Asia, South Asian Business Excellence Awards 2022 honoured organisations of all types and sizes and the people behind their success, from private to public, for profit to non-profit. The awards acknowledge and reward the exceptional work and the results gained by the trailblazers of the corporate domain, in the face of an ever-increasing competitive market. Beating some of the biggest brands in the region, Softlogic Life was conferred with the prestigious Best Insurance Company (Private Sector) award under the insurance category for proving its mettle through adaptation, innovation and perspiration in challenging times. 
Commenting on the remarkable achievement, Softlogic Life Insurance PLC Managing Director Iftikar Ahamed commented, “We are extremely honoured to be recognised with two key achievements at South Asian Business Excellence Awards 2022, including the Best Insurance Company award. Over the years, our innovations and service levels have set new benchmarks in the industry, helping us to defy all odds amidst a tough economic business landscape to climb through the ranks to become Sri Lanka’s second largest life insurance. These global awards reflect how well we have understood the consumer’s needs and strived to improve the quality of life of our policyholders through innovative and digitalised life insurance solutions. I congratulate everyone at Softlogic Life for this exceptional achievement.”  

Additionally, the Best Use of IT & Technology award is a further testament to Softlogic Life’s continuous focus to introduce many industry-first and world-first innovations for its policyholders. State-of-the art solutions such as one-day automated claims settlement, one-minute hospitalisation claim settlement, a 100 percent digitalised sales platform, automatic policy issuance and mobile-based micro products, which have paved a path for the company to deliver superior customer service while enhancing its competitive position. Furthermore, these innovations have enabled Softlogic Life to protect over 1.5 million Sri Lankan lives whilst making a significant contribution towards growing the country’s insurance penetration.