The Insurance Regulatory Commission of Sri Lanka is pleased, that the National Insurance Day and the Insurance Awareness Month of September are being commemorated for the sixth consecutive year, marking an important milestone in insurance industry of Sri Lanka.
The key aim will be to enhance public awareness of risk management and to draw attention to the importance of Insurance, which is the world-renowned method of risk management. Protection, safety, and security have become more synonymous and significant than ever before. Their importance has been underlined in the recent past. Therefore, insurance has become a basic requirement that every person should have. Going forward it is very important to educate people about the importance of insurance in one's life and the need to emphasize why insurance should be part of their future investment culture.
The insurance industry makes an important contribution to the economic development of Sri Lanka. I firmly believe the Insurance Association of Sri Lanka (IASL) will conduct awareness programmes throughout the month for the development of the Insurance Industry with a vision of, ‘Insurance for every Sri Lankan’ in the near future.
As the Chairman of Insurance Regulatory Commission of Sri Lanka, I thank the Insurance Association of Sri Lanka (IASL), for their continued support, co-operation, and the cordial relationship that they continue to maintain with IRCSL.
Razik Zarook P.C.
Chairman
Insurance Regulatory Commission of Sri Lanka
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It is with great pleasure that I issue this message in celebration of the 6th annual National Insurance Day on 1st September and the insurance awareness month of September. National Insurance Month aims to empower the public with knowledge, skills, and confidence to make responsible insurance decisions. I appreciate the efforts taken by IASL in building a competitive insurance sector providing our population with more insurance choices and boosting our insurance inclusiveness which is conducive to sustainable economic growth.
Customer education, claim handling and complaint resolution can help insurers to build and reinforce confidence in the insurance sector, which can serve as a positive reinforcement for greater insurance inclusion both in the life and in general insurance sectors. Financially literate consumers can assess risks and make informed decisions about the suitability of insurance products to their specific situations.
Moreover, considering the importance of financial literacy, the IRCSL has taken steps to strengthen awareness creation on the concept of insurance to develop informed customers.
The IRCSL will continue to strengthen its co-operation with the IASL to ensure a healthy operation of the insurance industry in Sri Lanka and facilitate the sustainable growth of the insurance market. I thank IASL for its tireless efforts in carrying out awareness creation throughout the country during the month of September.
Damayanthi Fernando
Director General
Insurance Regulatory Commission of Sri Lanka (IRCSL)
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Our task has indeed been made more challenging over the recent years with first the pandemic, which has then been followed by the present economic crisis. As the Industry Association, we are of the view that every Sri Lankan should be covered by insurance, so that they can navigate and come through the uncertainties around us. That is why our role is ongoing, with constructive stakeholder dialogue towards making this goal a reality.
With September being the month of national significance for insurance, we are revisiting our objectives and invite all industry participants to work together in furthering business in a more time relevant manner. It is an occasion where we leave our competitive positions aside and together promote the need for every Sri Lankan to understand the many solutions an Insurer could provide to cover both personal and corporate situations.
As we commemorate this special month, we sincerely thank our customers, business partners and all other stakeholders for their ongoing patronage and pledge to uphold our commitments in this journey of insurance for Sri Lanka.
Iftikar Ahamed
President,
Insurance Association of Sri Lanka.
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The National Insurance Day and the ensuing Insurance month celebrated from 1 st September onwards, marks a significant point in the annual calendar of the Insurance industry. This month is of high importance for the Marketing and Sales Forum of IASL where we as an industry come together to reach out to all Sri Lankans as one to spread awareness about insurance and we are grateful for all the pioneering forces that took the initiative to declare this special day 5 years ago.
During a time when our nation is recovering from a global pandemic and economically challenging times are being experienced by all Sri Lankans for an extended time, the importance of Insurance has become paramount. While Insurance offers a safety net for policyholders and their loved ones in times of need, the relatively low Insurance penetration in the country means that a vast majority of our fellow citizens are facing this time with insufficient financial security. As an industry, we need to work together to bring the message of Insurance to all corners of the country and ensure Sri Lankan citizens are empowered with sufficient protection to face the future.
Insurance should not only be explored once we face difficulties in life but rather be a forward-thinking practice inculcated in all Sri Lankans that help plan a financially stable future as we recover and grow as a nation. The National Insurance Day brings together all stakeholders in the Insurance industry and we are delighted to work together as one team to achieve this common goal that will benefit individual policyholders as well as the entire nation.
While we navigate this difficult time and look towards a brighter tomorrow, it is crucial to keep in mind that disaster can strike at any moment with no warning, and it is our duty to help Sri Lankans be better prepared to face any difficulty by protecting their lives, family and assets.
Namalee A Silva
Chairperson
Marketing and Sales Forum (IASL)
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