AIA Insurance has yet again been globally recognized as the Best Life Insurance Company, for the 3rd time. Awarded by the internationally acclaimed Capital Finance International (2021), this prestigious recognition identifies organizations that contribute significantly to the growth of economies and truly add value for all stakeholders. The award is testimony to the significant contribution made by AIA to Sri Lanka’s life insurance industry in terms of outstanding products and services, enhancing customer experience and serving local communities.
AIA has many attributes that contributed to this award, including having the strongest Capital Adequacy Ratio (CAR) among the top 6 insurance players in Sri Lanka’s life insurance industry. The Company has reported a regulatory Capital Adequacy Ratio (CAR) of 547% as at end 2021, which is more than four times the required capital adequacy ratio stipulated by the regulator. This demonstrates the ability of AIA to withstand shocks in the operating environment and deliver their promise to customers consistently. This is supported by the company’s prudent investment strategy which focuses on high quality investments.
AIA has always exceeded customer expectations with a track record of over 30 years of delivering above the promised customer dividends. In 2021, AIA maintained the momentum and delivered strong policyholder dividends amidst a low interest rate environment. The company is constantly evolving to meet customer expectations and is revolutionizing digitalization efforts and focusing on ease-of-doing business which has strengthened its ability to be a truly customer focused insurer.
The health and wellness space is an important area for AIA and the company offers not just insurance products but rather overall proposals that help people in their wellness journeys throughout their lives. Rooted in its brand promise of helping people live healthier, longer, better lives, the company’s mission is to proactively enable and support their customers to be not just financially but physically and mentally secure as well. Having partnered with some of Sri Lanka’s most reputed wellness partners including oDoc, Fitzky, My Dentist, Teardrop hotels and Kangaroo cabs, AIA is able to offer customers an eco-system of wellness proposals to help them stay active, healthy and happy.
In 2021, AIA Sri Lanka was recognized as a Best Workplace in Sri Lanka for the ninth consecutive year and was also adjudged the Best Workplace for Women in Sri Lanka for the fourth straight year, by Great Place to Work®. The company also received an international award when recognized as a Best Workplace in the Asia list – Large Category and a Best Workplace for Millennials in Sri Lanka for the first time. Most recently AIA was also recognized as one of the top 10 Best Workplaces® in the Banking, Financial Services and Insurance (BFSI) industry in Sri Lanka.
AIA is well connected to the community and is a company with a big heart. Be it the partnership with the Sri Lanka Cancer Society, renovating underprivileged schools and hospitals around the island, providing free covid covers for health sector workers and donations to hospitals treating covid patients, AIA is a company that prioritizes giving back to the community. Despite the economical challenge in 2021 the company managed to conduct several CSR initiatives last year with special focus on pandemic related needs.
Throughout it all, AIA Sri Lanka believes that helping to create a healthier Sri Lanka is one of the most important and valuable things for the community, today and in the future.