Sri Lanka Insurance Corporation General introduces recognition scheme

In a groundbreaking move, Sri Lanka Insurance Corporation General Ltd (SLICGL) has set a new global precedent by launching the world’s first dedicated recognition and achiever scheme for general insurance sales professionals, the General Insurance Pinnacle Achiever (GIPA) Award. 
The landmark initiative shines a spotlight on the art of general insurance salesmanship, paving the way for expansion into international standards in sales excellence.

Celebrating 60 years of strong market presence, SLICGL identified a crucial gap within the industry – the absence of a global, independent platform that specifically celebrates the dedication and success of general insurance sales professionals, promotes their development and sets general insurance sales standards at industry level. 
As a first mover in bringing the GIPA to fruition, SLICGL launched the award programme internally in 2023 to recognise the Top 20 SLICGL stellar performers. The company partnered with J.B. Boda, a pioneer in insurance and reinsurance brokering with global representation, to celebrate these achievers, who are to be honoured in Malaysia shortly. 

Taking a proactive step, SLICGL is bridging the void, conceptualising the global-first GIPA initiative and giving due credit to general insurance salesmanship with a more sustainable approach in terms of business success and in terms of its contribution to industry sustainability.

Creating an independent brand, the GIPA programme is designed to benchmark peak performance among general insurance salespersons across the globe in diverse markets. The GIPA sets six robust benchmarks to reveal inevitable excellence in global general insurance salesmanship such as overall volume recognition, new business contribution, recognition to business retention success, year-on-year growth, level of sustainability in the business portfolio and position in the organisational and national ranking.

The programme considers multifaceted sales skills and integrated parameters for a country to customise and develop towards its general insurance industry. It also offers a realistic standard to showcase well-rounded, inevitable mastery within general insurance worldwide.

The GIPA recognition is to be rolled out in phases, beginning with acknowledging exceptional performance under the levels as Achiever, Star and Legend, followed by capacity-building opportunities and eventually facilitating access to industry innovations. 

This strategic approach demonstrates SLICGL’s belief that recognising sales achievements fuels motivation, career progression and ultimately elevates industry standards. It is also a testament to the company’s commitment to excel at a global level in the insurance industry. To achieve this objective, SLICGL aims to work collaboratively with the wider Sri Lankan general insurance industry to leverage the GIPA’s potential with 
global partners.

The key to the GIPA’s success is the formation of the GIPA Council, an independent body tasked with setting evaluation parameters and ensuring the programme’s adaptability across global markets. SLICGL is now focused on establishing an independent GIPA Council comprised of global general insurance leadership that will formally govern the GIPA’s worldwide rollout. The council will facilitate local country customisations to evaluation norms while upholding the set universal parameters. Once the multinational council is constituted, the GIPA aims for rapid international expansion, leveraging support from renowned names in the global general insurance industry. 
Beyond standalone recognition, SLICGL ultimately envisions the GIPA facilitating strong knowledge exchange between star sales professionals across geographic boundaries to continually raise competencies. Planned partnerships with insuretech firms are also slated to ensure insurance innovations are accessible, enhancing customer and product experiences industry-wide.