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Union Assurance Named Best Digital Insurer Sri Lanka 2024

Union Assurance Named Best Digital Insurer Sri Lanka 2024

It’s key to recognize firms that excel in the Sri Lankan Insurance Industry’s digital evolution. Union Assurance has earned the title of Best Digital Life Insurer in Sri Lanka for 2024. This award came from the Global Business & Finance Magazine Awards. This honor spotlights Union Assurance’s role as a leader in the field. It shows their dedication to blending top-notch digital tech into life insurance for their customers.

Union Assurance Crowned Best Digital Life Insurer of Sri Lanka 2024

Union Assurance’s commitment to excellence in digital insurance stands out with this award. They have not just reached a high standard in the market with their Clicklife App but have also introduced a digital loyalty rewards program. By promoting a healthier lifestyle through rewards, and with innovative apps, Union Assurance is leading the way in InsurTech.

Union Assurance’s move towards digital innovation has gained much praise within the insurance community. Their joint work with Munich Re in automating financial underwriting in Sri Lanka and Asia marks a big step. With the e-MER system, what once took days now takes only 15 minutes. This progress by Union Assurance is reshaping the Life Insurance industry in Sri Lanka. They are driving a future focused on customer care and high-tech services.

Revolutionizing the Insurance Sector: Union Assurance’s Digital Triumph

Insurance tech in Sri Lanka is advancing, thanks to Union Assurance’s efforts. The company’s achievements were recognized at the Global Business & Finance Magazine Awards. This shows how much the insurance sector is changing.

The Global Business & Finance Magazine Awards Recognition

Union Assurance won the Best Digital Life Insurer of 2024 award. This highlights their work in digital transformation, improving customer experience, and innovating financial services. It shows their leadership in using advanced insurance technology.

Pioneering Digital Transformation in Sri Lankan Insurance

Union Assurance is changing the game with its Clicklife app. This life insurance app lets users manage their policies easily on their phones. It includes tech like an AI-driven calorie counter. This improves the customer experience by meeting modern needs.

Company Award Feature Highlight
Union Assurance Best Digital Life Insurer 2024 Clicklife app, AI-driven features
Teejay Group Profit after Tax LKR 0.9 Bn Leading textile innovation
Neptune Recyclers Gold Award for Waste Management Environmental sustainability focus
Sri Lanka Ports Authority Subsidiary Milestone Commemoration Enhancements in port operations

Digital transformation at Union Assurance goes beyond. It focuses on security, efficiency, and ease of access. This marks a new era for life insurance and financial services innovation in Sri Lanka.

Union Assurance Crowned Best Digital Life Insurer of Sri Lanka 2024

Union Assurance has taken a big step in digital progress. They won the ‘Best Digital Life Insurer – Sri Lanka 2024’ title. This award was given by the Global Business and Finance Magazine Awards. It shows the company’s dedication to using InsurTech like Financial Underwriting Automation and Digital Medical Records. These innovations help improve the Customer Experience.

Union Assurance made a big leap by introducing the Electronic Medical Examination Report (e-MER). This trimmed down the policy issuance process to just 15 minutes. Moreover, the Clicklife App has been launched. It’s seen as the most complete life insurance app in Sri Lanka. This app provides easy and customized services to users.

Union Assurance also started the industry’s first Digital Loyalty Rewards program. This program adds real value to how they keep and attract customers. Their leading work is changing the usual ways of underwriting. It also moves customer service to be quicker and more adaptable.

Union Assurance recognized for driving digital transformation and revolutionizing the Life Insurance industry through technology and customer-centric initiatives.

To learn more about how Union Assurance leads in life insurance with their innovative work, click here for our detailed coverage on their newest projects.

Initiative Impact Launch Year
Financial Underwriting Automation Enhanced speed and accuracy in risk evaluation 2024
e-MER Implementation Reduced policy issuance time to 15 minutes 2024
Clicklife Mobile App Comprehensive access to policy management 2024
Digital Loyalty Rewards Enhanced customer retention and engagement 2024

The digital tools and programs created by Union Assurance are groundbreaking. They not only lead in Sri Lanka but also set a global example. These efforts push the insurance industry to blend technology with traditional practices.

Innovative InsurTech: The Hallmarks of Union Assurance’s Success

Union Assurance is a leader in insurance technology in Sri Lanka. It has made a big impact with the Union Assurance Clicklife App. This app has created a new and easy way for people to deal with insurance.

Clicklife App: Sri Lanka’s Comprehensive Life Insurance Solution

The Union Assurance Clicklife App is changing how insurance works. It has an AI-Driven Calorie Counter and Digital Loyalty Rewards. These features make it easy to stay healthy and get rewards for it.

This app is part of a big plan to make insurance better by focusing on the users. Making strong systems is key, especially when dealing with natural disasters. These challenges show why we need reliable insurance services.

Automated Financial Underwriting Making Headlines in Asia

Union Assurance has made getting insurance faster with automated financial underwriting. This is the first time it’s been done in Asia. Working with companies like Munich Re has allowed them to offer personalized coverage. This sets new highs in what insurance companies can do.

Feature Description Impact
AI-Driven Calorie Counter Tracks user’s calorie intake and suggests health plans. Improves personal health management and policy personalization.
Digital Loyalty Rewards Rewards programme for maintaining healthy habits. Encourages long-term customer retention and engagement.
Automated Financial Underwriting Uses technology to streamline policy application processes. Reduces time from days to minutes, enhancing customer satisfaction.

The partnership with SLT-MOBITEL and using payment solutions like mCash has made things easier. This shows Union Assurance’s promise to offer full coverage conveniently. It’s part of a big plan to help Sri Lanka have better financial security.

The Future of Union Assurance: Advancements and Customer-Centricity

Union Assurance is all about Protecting Lives and Enriching Well-Being in Sri Lanka. Under CEO Senath Jayatilake, Union Assurance focuses on using Robust Technological Infrastructure. This helps improve how customers experience their services. They aim to offer Premier Insurance Solutions that provide Tailored Coverage. This matches the evolving needs of their clients perfectly.

Union Assurance is known for putting customers first. This focus makes it a leader in the insurance field. A digital-first mindset ensures ongoing innovation. Thus, Union Assurance can deliver advanced services that meet today’s demands. By including the latest technology in their services, they create a complete ecosystem. This approach solidifies their position in the industry. It also strengthens their promise to protect their customers’ financial future.

The growth of global trade, including a 15% rise in exports in early 2023, supports Union Assurance’s success. Their progress impacts the financial sector and boosts the nation’s economic recovery. Union Assurance’s continuous innovation and growth set an example in digital transformation within the insurance industry.

UNESCO Recognizes Sri Lanka’s Traditional “Kolam” Dance as Intangible Cultural Heritage

UNESCO Recognizes Sri Lanka’s Traditional “Kolam” Dance as Intangible Cultural Heritage

UNESCO has officially recognized Sri Lanka’s traditional Kolam dance as an Intangible Cultural Heritage. This honor highlights the importance of preserving Sri Lanka’s rich cultural heritage. Kolam is a unique art form that showcases the country’s vibrant traditions.

Kolam is a masked dance drama that represents Sri Lanka’s diverse cultural tapestry. This recognition underscores Kolam’s significance in representing Sri Lankan identity globally.

UNESCO Recognizes Sri Lanka's Traditional "Kolam"

UNESCO encourages countries to nominate elements of their intangible cultural heritage for inscription. This effort aims to safeguard and promote cultural diversity worldwide. The inclusion of Kolam celebrates its artistic value and ensures its preservation for future generations.

The Significance of UNESCO’s Recognition of Kolam Dance

UNESCO’s recognition of Sri Lanka’s kolam dance as intangible cultural heritage is a major milestone. Kolam blends intricate rice flour patterns with graceful dance moves. This Tamil tradition is now protected for future generations.

The UNESCO nod safeguards this ancient art form. It also promotes cultural diversity and human creativity globally. Kolam’s unique artistic elements and traditional significance are now showcased worldwide.

Preserving Sri Lanka’s Rich Cultural Heritage

UNESCO’s recognition highlights the importance of preserving Sri Lanka’s vibrant culture. The 2024 International Conference on “Art and Culture of Tamils” drew over 500 delegates. Eleven countries participated, showing growing interest in Tamil art.

The conference proceedings were compiled into a 188-page volume. It features 82 papers, serving as a valuable resource for researchers and policymakers.

Promoting Cultural Diversity and Human Creativity

UNESCO’s acknowledgment celebrates the diversity of human creativity. It spotlights Sri Lanka’s cultural richness and encourages appreciation of traditional art forms. This recognition fosters cultural exchange and inspires exploration of decorative folk art.

Ensuring the Continuity of Traditional Art Forms

UNESCO’s listing helps ensure kolam dance’s continuity for future generations. It encourages the transmission of knowledge and skills associated with the art form. Young artists can now learn from experienced practitioners.

UNESCO provides a platform for showcasing and celebrating kolam dance. This contributes to its preservation and maintains the vibrancy of Tamil tradition.

The History and Evolution of Kolam Dance

Kolam dance is a captivating Sri Lankan art form. It has evolved over centuries, blending history, beliefs, and artistic expressions. This unique performance art showcases the ingenuity of Sri Lankan artists.

Sri Lanka’s cultural heritage features diverse art and crafts. Traditional dances like Kolam have been shaped by Buddhism and Hinduism. The intricate masks in Kolam performances are stunning and believed to have curative powers.

Origins and Traditional Significance of Kolam

Kolam dance has ancient roots in Sri Lankan rituals and ceremonies. It has been practiced for centuries during religious festivals and social gatherings. The dance serves as storytelling, entertainment, and spiritual expression.

Kolam masks hold great significance in Sri Lankan culture. They represent human, supernatural, and demonic characters. Dancers wearing these masks are believed to channel spiritual energy during performances.

Unique Features and Artistic Elements of Kolam Dance

Kolam dance blends intricate masks, vibrant costumes, and symbolic movements. Skilled artisans craft masks from wood, clay, or paper mache. Each mask represents a specific character or emotion.

Kolam costumes feature colorful fabrics, embroidery, and ornate jewelry. Dancers’ movements convey complex narratives through gestures and rhythmic patterns. Traditional instruments like the Geta-bera drum accompany the performances.

Kolam dance is part of Sri Lanka’s art and crafts heritage. It showcases the country’s rich cultural tapestry alongside handicrafts, architecture, and sculptures. These artistic expressions contribute to Sri Lanka’s diverse cultural landscape.

UNESCO Recognizes Sri Lanka’s Traditional “Kolam” Dance

UNESCO has recognized Sri Lanka’s Kolam dance as Intangible Cultural Heritage. This milestone helps safeguard cultural heritage worldwide. The UNESCO Convention protects traditional art forms and promotes cultural diversity.

Sri Lanka proposed Kolam dance for the UNESCO Intangible Cultural Heritage list. The country has worked hard to preserve this art form. They’ve documented it and taught it to new generations.

UNESCO’s efforts align with Sri Lanka’s initiatives to protect its cultural heritage. These include inventorying practices and ensuring access to related materials and places.

The Process of UNESCO’s Intangible Cultural Heritage Listing

UNESCO encourages countries to submit elements together. They prioritize submissions from more than 10 countries. The listing process evaluates an element’s significance, authenticity, and preservation measures.

Currently, 364 elements are on the ICH Representative and Urgent Safeguarding Lists. There are 12 elements on the Best Practices List. Sri Lanka’s success shows its rich cultural tapestry.

Sri Lanka’s Efforts in Safeguarding Kolam Dance

Kolam dances are famous in Sri Lanka’s coastal areas, especially the southwest. They feature masked dancers and puppetry depicting folklore and historical stories. Sri Lanka has taken steps to protect this art form.

The country has documented Kolam dance and taught it to younger generations. They’ve also worked to raise public awareness about its importance. The partnership between FAO, USAID, and Sri Lanka’s Ministry shows how culture and development are linked.

Global Appreciation for Sri Lankan Traditional Arts

UNESCO’s recognition has brought global attention to Sri Lankan arts. It highlights the country’s diverse artistic expressions, from wood carvings to handloom weaving. This recognition celebrates Sri Lanka’s unique culture.

It also shows the importance of protecting intangible cultural heritage worldwide. Sri Lanka continues to promote its arts on international platforms like the Colombo Art Biennale.

Sri Lanka Allocates Rs. 465B for Education in 2024

Sri Lanka Allocates Rs. 465B for Education in 2024

Sri Lanka’s government has shown strong support for public school financing. They’ve set aside Rs. 465 billion for education in the 2024 budget. State Minister Suren Raghavan shared this news at a press conference.

This funding aims to tackle long-standing issues in Sri Lanka’s schools. It focuses on better buildings, teacher training, and learning materials. The goal is to help students compete globally.

Minister Raghavan stressed that this budget shows the government’s dedication to education. They want to create a fair and inclusive society. By investing in youth, they hope to shape skilled, knowledgeable citizens.

These future leaders will drive Sri Lanka’s progress in the coming years. The government believes education is key to the nation’s growth and development.

Substantial Investment in Primary and Secondary Education

Sri Lanka’s government has set aside Rs. 255 billion for primary and secondary education in 2024. This investment aims to boost early learning stages. It ensures students receive top-notch education from the start of their academic journey.

Initiatives to Enhance Quality and Accessibility of Education

The government has planned several initiatives to improve education quality and access. These include:

  • Infrastructure development projects to improve school facilities and learning environments
  • Implementation of student aid programs to support underprivileged students and promote equal access to education
  • Teacher training programs to enhance the skills and competencies of educators in primary and secondary schools

These plans aim to close the gap between urban and rural areas. They ensure all students can access quality education, regardless of background.

The government’s focus is on creating an inclusive education system. This approach fosters growth and development for every child in Sri Lanka.

Significant Funding for Higher Education and Research

Sri Lanka’s government has allocated Rs. 210 billion for research funding and development in 2024. This investment aims to improve advanced learning, boost innovation, and enhance skill training in universities. The funding will strengthen higher education institutions across the country.

Rs. 210 Billion Earmarked for Advanced Learning

The allocated funds will upgrade infrastructure and facilities in universities. State-of-the-art resources will be provided to students and faculty. The government plans to appoint Deputy Vice Chancellors alongside existing Vice Chancellors in all universities.

This move will streamline administrative processes and ensure efficient resource management. Discussions are underway to increase university lecturers’ salaries, recognizing their crucial role in education.

Plans to Foster Innovation and Skill Development

Sri Lanka aims to establish a national higher education commission. This body will consolidate administrative functions and improve coordination among institutions. Starting 2025, the government will offer direct scholarships to state university graduates.

These scholarships will encourage advanced studies and contribute to national growth. The government has invited foreign and Sri Lankan-origin professors with international experience. They will teach and conduct research in state universities, promoting global perspectives.

FAQ

How much has the Sri Lankan government allocated for education in the 2024 budget?

Sri Lanka’s 2024 budget allocates Rs. 465 billion for education. This substantial investment shows the government’s dedication to improving education quality and access.

What is the focus of the primary and secondary education budget allocation?

The budget designates Rs. 255 billion for primary and secondary education. This funding aims to enhance learning quality and accessibility at these crucial stages.

Key initiatives include infrastructure development and student aid programs. These efforts will strengthen the foundation of Sri Lanka’s education system.

How much has been earmarked for higher education in the 2024 budget?

The government has set aside Rs. 210 billion for higher education. This investment supports advanced learning and research in Sri Lankan institutions.

Plans are in place to boost innovation and skill development. These initiatives will prepare students for future challenges and opportunities.

What administrative changes are being made in universities?

Universities will appoint Deputy Vice Chancellors alongside existing Vice Chancellors. This change aims to improve administrative efficiency in higher education institutions.

Are there any initiatives to attract foreign and Sri Lankan-origin professors to state universities?

Yes, the government is inviting foreign and Sri Lankan-origin professors with overseas experience. They will teach and conduct research in state universities as part of an internationalization project.

Is the government considering increasing salaries for university lecturers?

The government is discussing salary increases for university lecturers. This recognizes their vital role in providing high-quality higher education to students.