Tuesday, 31 March 2015 02:50
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Sri Lanka Insurance walked away with a silver award for best HR System and processes at the recently concluded ‘HRM Awards 2014’, organised by the Association of Human Resource Professionals (HRP), in collaboration with the society of Human Resource Management (SHRM).
The process involved an onsite audit to ensure precise and up-to-date HR systems and processes were in practice. The process of selection also included a comprehensive study of the organisation’s HR systems, ensuring that they were in line with the organisations business objectives and added value to the organization’s progress.
Sri Lanka Insurance has always been focused on internal processes that are aligned with global standards to bring in dynamism to the already excellent expertise. In this process, high priority is given to the organisation’s HR systems and initiatives on people development.
Speaking on the achievements and challenges ahead, Managing Director Bangsa Jayah stated that he was pleased to be honoured with this prestigious award and stressed that as a learning organisation the company engages in continuous process improvement using modern HR tools.
Sri Lanka Insurance Corporation, with nearly half a decade of service, has the most experienced technical knowledgebase in the country and is the largest government-owned composite insurance provider in Sri Lanka. It is the first insurance company to have been assigned a global rating for financial stability AA (lka) from Fitch Ratings, London, which is an assurance of the company’s long-term financial sustainability.
Sri Lanka Insurance is the only insurer which was awarded RAM Ratings AAA for its ‘long-term claim paying ability’, which further affirms the corporation’s capacity to meet financial obligations to policyholders. The corporation has also been awarded ISO 9001:2008 certification for correct governing and operational procedures in line with accepted global standards.
