|People’s Insurance| People’s Insurance Limited (PIL)
was recognised for their very first annual report at recently concluded Vision Awards 2012 annual report competition. The company was awarded a Gold Award for excellence within its industry on the development of the organisation’s annual report for the past fiscal year, recognised for developing one of the Top 10 Sri Lankan Annual Reports of 2012 and also received ‘Regional Top 50 Honours’. Organised by the League of American Communication Professionals (LACP) in Florida USA, this is a much coveted global annual report competition.
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.
Mr. Kumarage – Managing Director of People’s Insurance commented on this accolade: “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 Limited 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 (Pvt) 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 organizational 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 Limited is a subsidiary of People’s Leasing & Finance PLC and People’s Bank. People’s Insurance Limited 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.