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LankaPay Managment (from left): Chief Delivery Officer Thusha Mukunthan, Information Security Solutions Senior Manager Manoj Fernando, Chief Operating Officer Dinuka Perera, General Manager/Chief Executive Officer Channa de Silva and SLIC Management (from left): Director Dr. Kithsiri Manchanayakke , Chief Executive Officer Chandana L. Aluthgama, Chief Information Officer Aloka Jayawardena and Senior Business Analyst Surani Dharmasena
Taking yet another bold step in its digital transformation journey, Sri Lanka Insurance Corporation (SLIC) has signed up with LankaPay to launch the mobile device-based digital signature solution enabling the signing and approval of documents.
Sri Lanka Insurance is the first institution in all of Sri Lanka to implement a mobile-based digital signature solution. In recent years, the insurance giant has accelerated its digital transformation strategy to deliver seamless and speedy solutions to customers while deriving higher internal efficiencies as it rapidly digitalises its operations.
Sri Lanka Insurance Chief Executive Officer Chandana L. Aluthgama stated that: “This is a significant step towards our digitalisation journey at SLIC. Having such a digital management system will improve both internal efficiency and overall business value proposition to our customers and will further allow us to deliver more personalised, convenient, and transparent interactions.
“Demand has grown significantly over the years across our customer base, moving beyond the younger generations who have long valued the convenience of online services. We will continue our journey to launch innovative offerings in order to meet our stakeholder expectations for a fully digital and streamlined experience.”
General Manager/Chief Executive Officer Channa de Silva stated during the occasion: “It is really encouraging to note the progress made by SriLanka Insurance (SLIC) as the first Sri Lankan entity to move forward with LankaSign Digital signatures on mobile devices for both internal and external document signing purposes.
“When most Government entities are still grappling with manual paper-based processes, SLIC is straight ahead in adopting new technologies for efficient delivery of services as well as providing convenience to their customers. Even private sector organisations can learn from SLIC as how technology can be used to succeed in the current different business environment.”
Digital certificates provide a secure digital signing mechanism. It is a unique digital code, generated and authenticated by public key encryption which is attached to an electronically transmitted document that helps validate the signature holder and the authenticity of the contents. LankaSign is the only Certification Service Provider (CSP) in Sri Lanka that issues digital certificates.
This CSP, operated by LankaPay, was established with the concurrence of the Central Bank of Sri Lanka and Sri Lanka CERT. Also, Information and Communication Technology Agency (ICTA) has legally recognised LankaSign Digital signatures. LankaSign certification process is complying with international standards such as ISO 27001:2013.
LankaSign digital signatures are intended to address the difficulties in obtaining physical signatures. Traditionally, LankaSign digital certificates are provided via Hardware Security Modules for desktop-based signing requirements.
LankaPay also has launched seamless integration of third-party applications and issuance of LankaSign certificates for integrated applications extending support for mobile platforms. API-based integration allows third-party applications to be integrated using LankaSign digital certificates provided via LankaSign API.
SLIC serves a loyal customer base of over two million individuals with average monthly claim settlements exceeding Rs. 1.8 billion which also includes the largest claim ever paid in Sri Lanka of Rs. 39 billion. As the most profitable insurer in the country, SLIC has embraced digitalisation, thus paving the way for the rest of the industry.
