IASL launches Life Insurance Industry Sales Awards 2018

The Insurance Association of Sri Lanka (IASL) on Tuesday announced the commencement of the Life Insurance Sales Awards 2018 which will be held next year after a judging period of 12 months.

The review period for the awards which was previously limited to the insurance month of September has now been upgraded to cover the entire year as the organisation believes that this is a lifelong business that needs the right and long lasting standards.

The award ceremony was initiated in 2017 with the aim of raising the standard of insurance sales professionalism, recognise and reward the performance and potential of insurance sales professionals and improve the penetration level of the life insurance market in Sri Lanka. Insurance Association of Sri Lanka President Deepthi Lokuarachchi said: “We have taken a collective initiative to spearhead the concept of insurance and carry the message of insurance to the community that we live in. The winners will be chosen on an island wide competition. We feel that it is critical and of utmost importance that we sustain our policies in the long run.”

“Insurance is very important for each person’s life and can offer you diverse methods of financial protection. Insurance encourages you to save which at the end can lead to a retirement fund for you and it helps you with dependency in case of sudden tragedies or distress,” he added. The awards presented will be The Best Advisor, The best Supervisor/Team or Unit Leader and The Best Branch Manager under the categories of Life Insurance Sales Category and National Winners. The competitors will be judged on three levels; Large, medium and small based on their year-end performance.

The conditions for the awards are; persistency should remain and maintained until 30 April 2019 to qualify as do the number of members in the institution. For the advisor category a minimum of 7,000 MCFP with two policies per month for six months should be maintained during the year of the competition while for a team or unit leader a minimum of four months in the position should be of service.

Insurance Association of Sri Lanka President Deepthi Lokuarachchi, Insurance Association of Sri Lanka Treasurer Jude Fernando and Marketing and Sales Forum Chairman Hashra Weerawardena were present at the head table at the press conference. (SJ)

Pic by Gitika Talukdar