Looking for reliable insurance coverage in Sri Lanka? Fairfirst Insurance has got you covered. With a reputation for providing high-quality insurance products and excellent customer service, Fairfirst Insurance is a top choice for individuals and businesses alike. Whether you need coverage for your home, car, or business, Fairfirst Insurance has a range of options to suit your needs. In this article, we’ll take a closer look at Fairfirst Insurance and what sets them apart from other insurance providers in Sri Lanka.
The Evolution of Fairfirst Insurance: What Was Its Former Name?
Fairfirst Insurance is a leading insurance company in Sri Lanka that provides a wide range of insurance solutions to individuals and businesses. The company has a rich history that dates back to the early 1900s.
The Former Name of Fairfirst Insurance
Fairfirst Insurance was previously known as Union Assurance PLC. The company was established in 1987 as a joint venture between John Keells Holdings, a leading conglomerate in Sri Lanka, and Union Bank of Switzerland (UBS).
Union Assurance PLC started its operations as a life insurance company, providing life insurance solutions to individuals and businesses. Over the years, the company expanded its portfolio to include general insurance solutions such as motor insurance, travel insurance, home insurance, and more.
The Acquisition by Fairfax
In 2017, Fairfax Financial Holdings Limited, a global insurance and reinsurance company based in Canada, acquired 100% of the shares of Union Assurance PLC. Following the acquisition, the company was rebranded as Fairfirst Insurance.
The acquisition by Fairfax brought in a wealth of experience and expertise to the Sri Lankan insurance market. Fairfax has a global presence and has operations in over 100 countries worldwide. The acquisition was a significant milestone in the Sri Lankan insurance industry, as it marked the entry of a global player with a strong financial backing.
The Evolution of Fairfirst Insurance
Since the acquisition, Fairfirst Insurance has undergone significant changes. The company has introduced new products and services and has expanded its operations to cater to a larger customer base.
One of the key areas of focus for Fairfirst Insurance has been the use of technology to enhance customer experience. The company has introduced several digital initiatives such as online policy issuance and renewal, online claims submission, and more.
Fairfirst Insurance has also expanded its distribution channels to reach a wider audience. The company has a strong network of agents and brokers across the country and has also partnered with several banks to offer insurance solutions to their customers.
Fairfirst Insurance has won several awards for its innovative products and services and its commitment to customer service. The company has been recognized as the ‘General Insurer of the Year’ at the Insurance Industry Awards in Sri Lanka for two consecutive years.
Overall, Fairfirst Insurance has come a long way since its inception as Union Assurance PLC. The company has evolved to become a leading insurance provider in Sri Lanka, offering innovative solutions and exceptional customer service.
Meet the CEO of Fairfirst Insurance: A Closer Look into the Leadership
Fairfirst Insurance is one of the leading insurance companies in Sri Lanka. As a company that values transparency and accountability, it is essential for them to have a strong leadership team to drive the company forward. In this article, we will take a closer look at the CEO of Fairfirst Insurance and examine their leadership style, experience, and goals for the company.
Leadership Style
The CEO of Fairfirst Insurance is Hemaka Amarasuriya. He has over 25 years of experience in the insurance industry and has been with Fairfirst since its inception in 2017. Hemaka is known for his strategic thinking and his ability to create a positive work culture. He believes in empowering his employees and giving them the autonomy to make decisions. This has resulted in a more engaged workforce and a higher level of customer satisfaction.
Experience
Prior to joining Fairfirst, Hemaka held several leadership positions in the insurance industry. He was the CEO of Sri Lanka Insurance Corporation and also served as the Chairman of the Insurance Board of Sri Lanka. Hemaka has a deep understanding of the Sri Lankan insurance market and has been instrumental in driving the growth of Fairfirst Insurance.
Goals for the Company
Hemaka’s vision for Fairfirst Insurance is to become the most customer-centric insurance company in Sri Lanka. He believes that by putting the customer at the center of everything they do, they can create a sustainable competitive advantage. Hemaka also recognizes the importance of innovation and technology in the insurance industry. He has implemented several initiatives to digitize the company’s operations and improve the customer experience.
His leadership style and vision have been instrumental in driving the growth of Fairfirst Insurance. As the company continues to innovate and expand, Hemaka will undoubtedly play a crucial role in shaping its future.
Discovering the Top Insurance Company in Sri Lanka: A Comprehensive Guide
When it comes to choosing an insurance company in Sri Lanka, it can be overwhelming to decide which one is the best fit for you. With so many options available, it’s important to do your research and compare different companies before making a decision. In this comprehensive guide, we will be discussing how to discover the top insurance company in Sri Lanka, with a focus on fairfirst insurance.
1. Reputation and Experience
One of the most important factors to consider when choosing an insurance company is their reputation and experience. You want to choose a company that has a proven track record of providing excellent customer service and delivering on their promises. fairfirst insurance Sri Lanka has been in operation for over 25 years and has earned a reputation as one of the leading insurance companies in the country.
2. Range of Products and Services
Another important consideration is the range of products and services offered by the insurance company. You want to choose a company that offers a variety of insurance products to meet your specific needs. fairfirst insurance Sri Lanka offers a wide range of insurance products, including home insurance, motor insurance, travel insurance, and health insurance, among others.
3. Customer Service
Customer service is another crucial factor to consider when choosing an insurance company. You want to choose a company that is responsive to your needs and provides excellent customer service. fairfirst insurance Sri Lanka has a dedicated customer service team that is available 24/7 to answer any questions or concerns you may have.
4. Online Presence
In today’s digital age, having an online presence is essential for any business. You want to choose an insurance company that has a user-friendly website and offers online services such as online quotes and claims processing. fairfirst insurance Sri Lanka has a user-friendly website and offers a range of online services to make it easy for customers to manage their policies.
5. Financial Stability
Finally, it’s important to choose an insurance company that is financially stable and has a strong financial rating. A financially stable company will be able to meet their obligations to policyholders and pay out claims in a timely manner. fairfirst insurance Sri Lanka has a strong financial rating and is backed by the global insurance giant Fairfax Financial Holdings Limited.
Overall, choosing the right insurance company in Sri Lanka can be a daunting task, but by considering factors such as reputation, range of products and services, customer service, online presence, and financial stability, you can make an informed decision. fairfirst insurance Sri Lanka ticks all of these boxes and is a great choice for anyone looking for a reliable and trustworthy insurance company.
Understanding 3rd Party Insurance in Sri Lanka: Your Comprehensive Guide
Insurance is an important aspect of our lives, as it provides us with protection and peace of mind in the face of unexpected events. One type of insurance that is commonly used in Sri Lanka is third-party insurance. In this article, we will provide you with a comprehensive guide to understanding third-party insurance in Sri Lanka, with a focus on fairfirst insurance.
What is Third-Party Insurance?
Third-party insurance is a type of insurance policy that provides coverage to a third party in the event of an accident or incident. In other words, if you are involved in an accident and you are at fault, your third-party insurance policy will cover the damages or injuries sustained by the other party. This type of insurance is mandatory in Sri Lanka, as per the Motor Traffic Act.
What Does Third-Party Insurance Cover?
Third-party insurance covers damages or injuries caused to a third party by the insured vehicle. This includes:
- Property damage
- Personal injury
- Death
However, it is important to note that third-party insurance does not cover damages to your own vehicle or injuries sustained by you as the policyholder.
Why Do You Need Third-Party Insurance?
As mentioned earlier, third-party insurance is mandatory in Sri Lanka. This means that if you own a vehicle, you are required by law to have third-party insurance. Failure to have this insurance can result in fines and legal penalties.
Moreover, third-party insurance provides you with protection and peace of mind in the event of an accident. Without this insurance, you would be responsible for paying for any damages or injuries caused to the other party out of your own pocket, which can be expensive and financially devastating.
Why Choose fairfirst Insurance?
fairfirst insurance is a leading insurance provider in Sri Lanka, offering a range of insurance products and services to meet the needs of its customers. When it comes to third-party insurance, fairfirst offers comprehensive coverage at an affordable price.
In addition, fairfirst has a team of experienced and knowledgeable insurance experts who can help you choose the right policy for your needs and answer any questions you may have about third-party insurance.
The Bottom Line
Third-party insurance is an important aspect of vehicle ownership in Sri Lanka. It provides you with protection and peace of mind in the event of an accident or incident. If you are looking for a reliable and affordable third-party insurance policy, consider fairfirst insurance.
In conclusion, if you’re looking for a reliable and trustworthy insurance provider in Sri Lanka, Fairfirst Insurance should be at the top of your list. With comprehensive coverage and a commitment to customer satisfaction, you can rest assured that your insurance needs will be taken care of. Remember to always read the terms and conditions carefully before purchasing any policy, and don’t hesitate to reach out to Fairfirst’s knowledgeable customer service team if you have any questions or concerns. Thank you for reading, and stay protected!
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