AIA dominates bancassurance in Sri Lanka

As part of Asia’s largest life insurer and the second largest life insurer in the world, it comes as no surprise that AIA is a clear leader in Sri Lanka’s bancassurance sphere. Known as an innovator and trendsetter in this fast-growing space, the company has made its mark as a market expert, who provides unparalleled products and services to partner banks. 

This year, an unprecedented 15 bancassurance sales executives qualified for the prestigious Million Dollar Round Table (MDRT) from Sri Lanka – the highest number of bancassurance MDRT members in the country. MDRT is internationally recognised as the standard of excellence in the life insurance and financial services business, with members required to generate a certain level of premium, commission and income, while demonstrating exceptional professional knowledge, strict ethical conduct and exceptional client service. 

Dilanka Amaratunga achieved Court of the Table, which is one of the highest honours of MDRT. Other MDRT members are Nishara Gunawardena, Ravi Hemawardana, Dilhan Gurusinghe, Stephan Costa, Nadira Indrasena, Charitha Wijenayake, Jesuthasan Jeneraj, T. Gokularamanan, Prageeth Wickramasinghe, Chathurani Boyagoda, Madushan Aluthgedara, Darshana Abeygunawardana, Yasitha Dabare and Ruwanthika Karunarathna.

AIA Director Partnerships Amal Perera said, “We currently work with some of the best banks in the country, namely, NDB Bank, Standard Chartered Bank and DFCC Bank, in unlocking greater value to customers. We prioritize training and development for our bancassurance sales executives, who are armed with seamless, state-of-the-art, point-of-sale technology to help them carry out their business in an efficient and customer-friendly manner.”

He added, “We will certainly continue to offer a world-class product portfolio alongside the highest standards of service to our valued partner banks.”
CEO Shah Rouf said, “AIA Sri Lanka’s bancassurance model is aligned with the very successful AIA group model, thereby reinforcing its strength and expertise. Notably, partnerships contributed 36 percent of the AIA group’s new business premium (ANP) in 2015, with a recorded 45 percent increase in bancassurance value of new business (VONB) the same year.”