HNB Assurance’s Insurance Distribution Initiative garners global recognition

HNB Assurance clinched the ‘Insurance Distribution Initiative of the Year’ at the Insurance Asia Awards 2023 for its groundbreaking branch expansion strategy.
This initiation has propelled HNBA’s growth trajectory, setting a new industry benchmark. The innovative branch expansion strategy, deployed by the Advisor Distribution Channel, focused on expanding its presence through four concepts: Incubator Model Branch, the City Branch, the Metro Branch and Virtual Business Hubs.

This approach, which eliminates the need for expensive infrastructure and resources, has enabled HNB Assurance to expand its reach even further, tapping into new markets and attracting new customers in an extremely cost-effective manner.
CEO of HNBA Lasitha Wimalaratne said, “At HNB Assurance, we remain committed to fostering innovation that benefits our customers and strengthens our position as a company. This recognition certainly underscores our efforts in creating a smart, customer-centric solution that drives growth.”
Harindra Ramasinghe, Chief Business Officer – Advisor Distribution Channel said, “This recognition is a result of our efforts as a team, where we constantly seek avenues to improve our customer touch-points efficiently. Our City Branch strategy allows us to leverage on our current infrastructure, enabling us to connect with new customers while our Metro Branch helps us approach smaller cities and towns, extending HNB Assurance’s reach beyond major urban cities. 

Additionally, we have also introduced a new concept called the VirtualHub Business Development Unit, which is a first in the Sri Lankan insurance industry. As a young company that continues to make impressive strides within the industry, we will continue to innovate and improve our position as the most trusted insurance services provider in 
the country.”