Sri Lanka Insurance launches affinity credit card and loyalty scheme with Commercial Bank

From left: Commercial Bank Head of Card Centre Thusitha Suraweera, Mastercard Country Manager Santhosh Kumar, Commercial Bank DGM Marketing Hasrath Munasinghe, DGM Corporate Banking Sanath Manatunge and Chairman Dharma Dheerasinghe at the event with SLIC Chairman Hemaka Amarasuriya, Executive Director Keerthi Kotagama, Director Nilu Wijedasa, CEO Chandana Aluthgama, CIO Aloka Jayawardena and CH17 CEO Jumar Preena

The two corporate giants Sri Lanka Insurance and Commercial Bank have tied up to create convenience for the Sri Lanka Insurance customers by initiating a co-branded affinity card with a loyalty platform and easy payment scheme for General Insurance premium payments. 

The official handing over of the MOUs took place recently at Sri Lanka Insurance Head Office. Speaking on the occasion, SLI Chairman Hemaka Amarasuriya said that this partnership formed between the two leading organisation is expected to benefit both organisations through the benefits provided to the customers. This tie-up would enrich and enhance the relationship between the two parties even further, he said. 

Addressing the launch event, Commercial Bank Chairman Dharma Dheerasinghe said this affinity card is expected to take Commercial Bank to the next level of the card business. “We didn’t focus heavily on the card business until recently, but now our card business is one of the fastest growing in the country. This tie-up would provide added synergy to our relationship with SLI,” he said.

The easy payment scheme will enhance the premium payment mediums and make the payment process flexible and convenient for the customer. Sri Lanka Insurance constantly introduces flexible payment plans that allow the General insurance customers to pay premiums without a huge impact to their personal cash flow. Therefore, the 12-month, 0% instalment plan can now be used for any General Insurance premium payment done through a Commercial Bank credit card. 

Further, Commercial Bank has offered a co-branded credit card to Sri Lanka Insurance customers. This credit card will be issued to all Sri Lanka Insurance customers subject to the creditworthiness of the applicant. Sri Lanka Insurance customers can obtain application forms from either the nearest Commercial Bank branch or Sri Lanka Insurance branch. The credit card will be issued in two types, which are ‘Gold’ and ‘Platinum’. The card is issued without a ‘Joining Fee’ and ‘First Year Annual Fee’. There are unique benefits including discounts from reputed automotive merchants which are only provided to the co-branded cardholders through a wide range of merchant base tie-ups with the loyalty platforms of both Commercial Bank and Sri Lanka Insurance, powered by loyalty benefits provider CH17. Further, the co-branded affinity card holders can enjoy ‘Commercial Bank Max Loyalty Rewards’ each time they perform purchases through the credit card. Motor Plus affinity cardholders are also entitled to the year-round attractive offers available for Commercial Bank cardholders. 

 Sri Lanka Insurance customers can now obtain the benefits of the easy payment scheme and co-branded credit card by contacting the nearest Commercial Bank branch or Sri Lanka Insurance branch.

Being the most trusted state-owned insurer, Sri Lanka Insurance has one of the largest customer bases that a local insurer possesses. Commercial Bank, the largest private bank in Sri Lanka has won multiple awards as Sri Lanka’s best bank from a number of international publications over several years. This agreement marked another remarkable milestone in the history of both entities.