Friday Nov 15, 2024
Friday Nov 15, 2024
Thursday, 25 July 2013 00:52 - - {{hitsCtrl.values.hits}}
People’s Insurance released its first annual report for 2012 together with its first financial statements which were prepared in accordance with the revised Sri Lanka Accounting Standards (SLFRS/LKAS). The company has focused on setting high benchmarks in all aspects of its operations, successfully concluding the implementation of a customised enterprise resource planning (ERP) system, which has automated and integrated its key business processes - underwriting, claims and general ledger across the company, including the regional offices and window offices.
People’s Insurance Managing Director D. P. Kumarage commenting on the award said: “We are proud to win the Gold Award and be recognised for excellence within the insurance industry at the 2012 Vision Awards Annual Report Competition. This honour is doubly significant because the Annual Report for 2012 was the very first publication by People’s Insurance Ltd. since we commenced operations in 2010. We would like to thank our team at PIL for driving this initiative with great passion and our media partner, Copyline Ltd., for creatively expressing our vision for the annual report with such high standards to make this accolade possible.”
The twelfth annual competition drew the largest number of submissions ever, representing a broad range of industries and organisational sizes. More than 6,000 entries were received, representing over 24 countries and 800 entities, which made the field of competition especially tough. Furthermore, materials were judged in peer-level competitions and PIL was able to surpass some of the more prominent insurance companies around the globe in the quality of their annual report.
Established with a vision ‘To be appreciated for building lasting trust based on strength, stability and sustainability’, People’s Insurance Ltd. is a subsidiary of People’s Leasing & Finance PLC and People’s Bank. People’s Insurance Ltd. commenced commercial operations in January 2010 as a non-life (general) insurance provider and offers a wide range of products to suit both individual and corporate clients under lifestyle products and business products. Lifestyle products cater to needs of individuals and insurance covers include dwelling fire, home insurance, personal accident and motor vehicle insurance. Business products cater to requirements of corporate clients and insurance covers which include commercial fire, business interruption (consequential loss), plate glass, burglary, fidelity guarantee, machinery/electronic equipment, contractor’s all risks, workmen’s compensation, public liability, motor vehicle, marine (cargo) and goods in transit insurance. The company has also pioneered some unique features in its technically advanced website which was launched in this year, to enhance customer convenience.
With an aim to serve the country better, People’s Insurance recently opened regional offices in both Galle and Negombo and entered into a bancassurance agreement with People’s Bank that will support the company and help distribute People’s Insurance products and services through the bank’s branch network, currently ensuring that customers are offered insurance services from over 700 branches island wide. The company has also developed and inaugurated its state-of-the-art call centre equipped with the latest technology. People’s Insurance is truly poised to meet the rapidly evolving demands of its customers.
