SLIC and Browns sign up to boost agriculture

By Cheranka Mendis

One of Sri Lanka’s largest conglomerates, Brown and Company yesterday signed up with the country’s insurance giant Sri Lanka Insurance Corporation (SLIC) to offer greater convenience to the agro sector of the country.

The merger stands for a unique comprehensive insurance package for four-wheel owners, specifically TAFE customers.

In a bid to offer greater convenience to farmers who purchase TAFE 45 DI tractors, Browns Agriculture will offer an all-inclusive Sri Lanka Insurance Tractor Insurance Policy at no additional cost irrespective of the mode of transaction (cash or lease.)  The offer, which will be valid from 1 August to 29 February 2012, hopes to sell off a minimum of 1,000 tractors within the six month period.

Browns has been offering tractor registration service as a unique value addition to help ease the burden placed on tractor buyers due to it being a time consuming and costly affair. Initial plans outlined the free registration process to be a six month operation but due to the demand and good response, the service has been extended. Likewise, the company hopes to, depending on demand, expand the time span of the insurance package at the end of the six month period.

Browns, a market leader in introducing new technology to the country’s agricultural sector, launched TAFE 45 DI with Massey Ferguson Technology, which is now i dentified as the most technologically advanced tractor available in the market.

           

The tractor boasts a S375 Simpson engine with three cylinder capacity, high performance and an advance draught and position control live hydraulic system.

The merger would benefit the local farming community, which represents 33% of the employment of the country and contributes 12.9-13% to national GDP, Group CEO and MD of Browns Murali Prakash said.

He stated that with Browns being the pioneer in introducing agro mechanism to the country in the early 1950s, such an offer was vital to encourage more locals to engage in farming and agriculture.

“For us, business does not end by selling a product and gaining profit. We have a responsibility to help the consumers at large,” Prakash said.

The next step is to connect all regional centres of Browns to one large service hub to provide even better service. The service will also be offered in the north and east, from which the company has seen a marked improvement for such machinery.

Also at the event, SLIC CEO and MD Mohan De Alwis stated that with increasing interest shown in working towards the development of the Sri Lankan agri sector in line with the growth planned for the country under the ‘Mahinda Chinthana,’ the service launched was a timely one.

“It is our business and responsibility to be involved in the agri sector and help our farmers who spearhead growth in the country,” De Alwis said.

With opportunities opening up for better development and penetration of similar products, SLIC will head towards all regions of the country and offer unique services in agri as well as other sectors to help accelerate growth, he said.