Ceylinco General Insurance has long been in the business of providing insurance solutions that are in perfect sync with the Sri Lankan psyche, just as when they innovated the On The Spot concept, back in 2003, winning several international and local accolades, which saw motor claims paid on the spot to customers. Its latest offering, according to its Chief Executive Officer Ajith Gunawardena, the architect of the On The Spot claim settlement methodology, whose aim is to continually innovate, so that all Sri Lankans will enjoy the best benefits insurance has to offer, is no different.
Taking into account the myriad challenges that face the Sri Lankan motoring public, Ceylinco General Insurance’s flagship brand – Ceylinco VIP On The Spot, introducing another industry first, upped the ante in the local insurance arena recently, offering an unprecedented Rs.4 million as accidental health insurance, as a value addition to each Ceylinco VIP policy. The icing on the cake – there is no change in premium; it’s absolutely free.
The new benefit consists of several components, according to Gunawardena, who explained that each component had been decided on through a need-based analysis. Accordingly, the new benefit will include a cover of Rs.1.3 million for hospitalisation expenses, in the event of a road traffic accident within Sri Lanka and for follow-up treatment overseas if necessary, dependent on a medical recommendation.
Further, if the policyholder is overseas, travelling, he or she will be entitled to a hospitalisation cover, due to any medical emergency, up to Rs.1.3 million and up to Rs.2.6 million for hospitalisation expenses due to an accident, up to 15 days per trip. Adding further cover, overseas travellers will also be entitled to a personal accident cover of Rs.1.3 million, which will include death and total permanent disablement covers, during their stay overseas, while also being entitled to a cover for permanent partial disablements, of up to Rs.650,000.
The CEO of Ceylinco General Insurance further explained that the benefits announced will be applicable to Ceylinco VIP On The Spot comprehensive policyholders, for their cars, vans, jeeps, double cabs, buses lorries and three-wheels, while comprehensive VIP motorcycle policyholders have not been forgotten, as they will be entitled to a hospitalisation cover of Rs.300,000, in the event of a road traffic accident within Sri Lanka, while enjoying all the benefits outlined for larger vehicles, in the event of travelling overseas.
Gunawardena added further that even third-party VIP customers will benefit, with a cover of Rs.200,000 for hospitalisation, in the event of a road traffic accident within Sri Lanka for vehicles and Rs.100,000 for motorcycles.
Asked to explain the roll out plan for the new benefits, Gunawardena indicated that the new cover will be valid for new policies, explaining that existing policyholders will get to enjoy the new benefits with their next renewal, but added that in the case of individual customers, the insured will be entitled to this revolutionary benefit, while corporate customers or fleet owners must name an individual (user or driver) as beneficiary.
“Ceylinco General Insurance has always had the best interest of the customer at heart, as it is our loyal clientele who have made us who we are. Being the undisputed market leader in the Sri Lankan insurance arena and maintaining that position uninterrupted for almost a decade stands testament to how millions of Sri Lankans feel about us and it is incumbent on us to ensure that their needs are anticipated and met and that they have the best service at all times,” Gunawardena said, explaining the ethos behind the credo of continuous innovation, adopted by Ceylinco General Insurance.
He went on to say that Ceylinco General Insurance does not believe in discounts or undercutting the insurance market, as that would prove fatal to the whole industry in the long term and instead, endorsed the idea of providing more and more benefits and innovations that will benefit both the customer and the industry.
Ceylinco General Insurance revolutionised the motor insurance sphere in 2003, when it introduced the On The Spot claim settlement methodology, which was subsequently hailed by the Asian Insurance fraternity, winning Ceylinco The Innovation Of The Year accolade, at the Asia Insurance Awards. Besides maintaining a reputation for timely and total claim settlement, Ceylinco General offers what is arguably the best motor insurance policy in the market, with such innovative benefits as a similar replacement vehicle, in the event of an accident, where the repair exceeds four days, emergency roadside assistance, personal accident cover of up to Rs.200,000 for each passenger, entitlement to No Claim Bonus regardless of claims, the insured value of the vehicle increasing by 10 percent every year without paying an additional premium and the payment of lease instalments of up to two months, in the event of a repair exceeding thirty days, a 10-year warranty from the year of manufacture against manufacturing defects plastic surgery cover for ladies of up to Rs.100,000, etc.
With the country’s largest branch network for General Insurance, a 24-hour call centre that facilitates on the spot claim settlement and offers roadside assistance to customers, VIP On The Spot Rest Centres located throughout the nations’ main highways and an unmatched array of benefits, Ceylinco General Insurance is poised to be No.1 for a long, long time.
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