Union Assurance PLC has been ranked among the top three most loved Life Insurance brands in Sri Lanka. This recognition was from the reputed business magazine LMD in association with the world’s leading brand valuation consultancy Brand Finance. The listing is renowned for its credibility and impartiality in the process of selection and evaluation of brands.
Union Assurance Chief Marketing Officer Mahen Gunarathna stated that he is truly proud and delighted that the Company has been recognised as a most loved Life Insurance brand in the country. “Our brand ethos is built around our connection with customers, and we have always evolved in line with customer expectations. He noted that innovation and digitisation are driving the Company’s customer-centricity. He added, “The seamless digital experience, which offers much ease and convenience, has been crucial to Union Assurance being recognised as a most loved brand.”
According to Gunarathna, the true value of a brand is based on how it makes customers feel. “What matters is the experience offered and how it engages with their lives,” he stated. He stressed that brand loyalty arises from fulfilling a customer’s needs at an emotional level, and this has been a key factor driving their success.
The Clicklife App is one of the Company’s digital initiatives to bring Life insurance closer to the consumer. It is the first comprehensive app to enter the market, and it has revolutionised Life Insurance services in Sri Lanka, boosting customer engagement by enabling them to conveniently manage their insurance from any location. The Clicklife App facilitated the acquisition of insurance products, and digitised policy servicing and claims interactions while providing a holistic health and lifestyle ecosystem. Through the App, the Company initiates fitness challenges and rewards its customers, while the Lifestyle Bonus promotion offers new policyholders the chance to win an array of attractive lifestyle rewards annually.
Union Assurance has also introduced best-in-class solutions to enrich and protect the lives of Sri Lankans. This was evident when the Company introduced Health 360 – a breakthrough health insurance solution – at a time when people were increasingly focused on health and well-being due to the pandemic.
Union Assurance is among the most awarded Insurance companies in Sri Lanka, completing over three decades of success with a market capitalization of Rs. 17.3 Bn, a Life Fund of Rs. 49.8 Bn and a Capital Adequacy Ratio (CAR) of 228% as of December 2021. Set to empower the Sri Lankan Dream, Union Assurance offers Life Insurance solutions that cover the education, health, investment, protection, and retirement needs of Sri Lankans.