HNB Assurance PLC (HNBA) and its fully-owned subsidiary HNB General Insurance Limited (HNBGI), have been having steady year-on-year growth while the business remains dynamic and resilient. Over time, both companies' productivity plateaued, and several waste types were identified by dissecting the processes. With the growing intensity of competition, in 2019, the companies partnered with Dr Mikel J Harry Six Sigma Management Institute Asia to focus on standardization, quality & efficiency improvement, cost reduction, reducing process variation and enhancing process control. Even though Lean Six Sigma (LSS) is not a new concept, it is all about doing more with less. As of date, HNBA & HNBGI have more than 50 Black belt and Green belt LSS practitioners across all divisions of both organizations. Both companies reaffirmed their commitment towards inculcating a lean culture with a recent batch of employees successfully graduating last September 2022, having completed the Green and Black Belt program. Upon successfully completing the course, nominated staff members to undertake a real-life project with the guidance of an SSMI Master Black Belt. Dinesh Yogaratnam, Chief Marketing & Customer Experience Officer stated, "as organizations grow, they may carry with them processes and procedures implemented in the past, which may not add value in the present day. This program has given both organizations the necessary teeth in terms of trained staff who are able to deep dive into processes and improve efficiencies by way of removing nonvalue-adding activities". He also emphasized the importance of a learning culture in the organization so that by understanding and appreciating the potency of concepts such as Lean Six Sigma could inculcate it at all levels in the Company and this change in mindset would contribute towards superior financial performance that ultimately improves the bottom line of the organisation. He thanked Mr Dumidu Ranaweera -Global Director APAC, Middle East, Oceania, Africa & Canada of Dr Mikel J. Harry Six Sigma Management Institute Asia for all the support that has been given in terms of training and guiding the team. Geethani Saram, Head of Business Process Excellence & Procurement of HNBA, reflecting on what LSS revealed, stated that she believes corporates should draw attention to a few critical observations while analyzing the impact of Lean Six Sigma in an organization. Further elaborating, Different LSS tools will deliver different results based on situations and their application. As an organization, we focused on the overall process of providing value to our end customers. The culture for problem identification, rectification and error-proofing enables logical problem-solving, adding value throughout the process. Driving value-added activities permitted us to reduce costs and improve throughput time. We aimed to enhance the knowledge of all our employees, aiding them in selecting the appropriate LSS tools for operational problem-solving. And encouraging employees to become change agents who deliver resounding customer convenience eliminating waste in our processes. Hazana Caffoor, Senior Manager R&D and Process Re-Engineering of HNBGI, mentioned that LSS is a fundamental transformation in the thinking and behavioural patterns rather than applying changes in the process. The systematic elimination of waste creates a positive contribution towards working capital management. After I saw the potential and usefulness of LSS to myself, I made an effort to manifest it in the minds of our people as I saw many opportunities for positive transformation. The aim of this LSS approach has resulted in changing the mindsets of the operational team to look at operations differently while sustaining a lean culture and creating a learning organization. With this initiative, both companies utilize the lean six sigma tools and ideas to promote a new strategic outlook that brings about creativity, innovation, structured problem-solving skills—at the same time, enhancing employee motivation towards providing an excellent service to all our valuable customers. The Lean Six Sigma program of HNBA & HNBGI titled "Evolution Circle" is the Company's way of giving an identity to the program and the team members. As the name implies, the process of evolution that we have embarked upon is seamless in that one needs to constantly keep improving and attuning oneself, to the complex and dynamic environment in which businesses operate and be continually relevant. The Company has also specially designed a rewards and recognition scheme where all members are entitled to participate. At the recently held Staff Conference, the LSS member and their teams were awarded the Best Cost Saving Project, Best Efficiency Improvement Project, and Best Customer Experience Enhancement Project. HNB Assurance PLC (HNBA) is a leading Life Insurance Company in Sri Lanka with a network of 64 branches. Fitch Ratings Lanka has assigned HNBA a rating of 'A+' (lka) for 'National Insurer Financial Strength Rating'. Falling in line with the introduction of the segregation rules by the Insurance Regulator, in January 2015, HNB General Insurance Limited (HNBGI) commenced its operations. HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions while being a fully-owned subsidiary of HNB Assurance PLC. Fitch Ratings Lanka Limited has assigned HNB General Insurance a 'National Insurer Financial Strength Rating' of 'A+' (lka). HNBA is rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and has won international awards for Brand Excellence, Digital Marketing and HR Excellence, including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.
Jul
In a move towards reimagining the future of accessible, digital-first healthcare, HNB Assurance PLC and Flash Health entered a partnership to enhance the wellness experience for policyholders. This collaboration brings together the trust and legacy of one of Sri Lanka’s leading insurance providers with the innovation and agility of a health-tech disruptor, creating a future where wellness is not just promised, but truly delivered.Under this partnership, HNB Assurance policyholders will gain seamless access to Flash Health’s full ecosystem of digital healthcare services, including medicine delivery, lab testing, doctor consultations, and more, all through a convenient and user-friendly mobile app. This ensures that wellness is no longer reactive, but proactive, accessible, and empowering.HNB Assurance’s Executive Director / Chief Executive Officer, Lasitha Wimalaratne, stated, “This collaboration is a natural extension of our commitment to deliver value beyond traditional insurance. By integrating Flash Health’s capabilities, we enable our customers to manage their health proactively, making insurance a safety net and a platform for ongoing wellness.”“At Flash Health, we believe that good health shouldn’t begin at the hospital, it should start at home,” said Arshad Ameer, Founder of Flash Health. “This partnership marks a bold step in our mission to make healthcare accessible, timely, and personalised for every Sri Lankan. Together with HNB Assurance, we are creating an experience that puts people first, where policyholders don’t just receive cover, they receive care.”With policyholders across the country, this partnership is expected to touch thousands of lives, offering timely access to healthcare, reducing waiting times, and improving the quality of life, especially for the elderly, chronically ill, and time-constrained working professionals.
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In a year that marked new milestones and continued momentum, HNB Assurance brought together its team from around the island, for the 2025 Staff Conference, an evening dedicated to celebrating its people and the values that fuel the company’s remarkable rise. With over 850 team members in attendance, the event was graced by Chairman Mr. Stuart Chapman as the Chief Guest, alongside members of the Board of Directors, making it a truly memorable gathering.Held under the theme of “United, Bold, Victorious” the event wasn’t just a look back at accomplishments, it was a celebration of the individuals behind them. From honoring years of loyal service to applauding those pushing boundaries across teams and disciplines, the night was a powerful reminder of why HNB Assurance continues to thrive.The highlight of the evening was a series of recognitions that reflected the company’s holistic approach to success. The Long Service Awards honored those who have dedicated over 15 years to HNB Assurance’s journey. The Chairman’s Award recognized employees who have truly redefined excellence. The In.she Woman Empowerment Award celebrated women breaking barriers, while the CEO’s Special Recognition Award honored teams and individuals achieving extraordinary success outside their formal roles – including in sports and collaborative business innovations.Addressing the gathering, Executive Director / CEO Lasitha Wimalaratne reflected on the year and the collective effort that continues to drive HNB Assurance forward “We are not just building a business. We are building a culture of purpose, integrity and shared ambition. Over the past few years, we have grown at twice the pace of the industry, not because of chance, but because of our people, their commitment and belief in what we are building together. I couldn’t be prouder to lead this team.”Mr. Navin Rupasinghe, Deputy General Manager / Head of Human Resources, sharing his thoughts, stated, “This conference is a celebration of growth, but more importantly, of gratitude. It is about recognizing the culture we have created, one where people feel valued, empowered and inspired. Every award handed out tonight carries a story of hard work. As we continue to raise the bar, it is clear that our greatest asset will always be our people. This year also marks a significant milestone with the official launch of our Diversity, Equity, and Inclusion (DEI) framework, reinforcing our commitment to creating a workplace where everyone feels seen, heard and supported, which is another step toward building an environment where every individual can thrive.”
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A key leadership announcement was made as Lasitha Wimalaratne has been appointed as an Executive Director/CEO of HNB Assurance PLC, while Sithumina Jayasundara has been appointed as an Executive Director/CEO of HNB General Insurance Limited.Both Lasitha Wimalaratne and Sithumina Jayasundara presently serve as the Chief Executive Officers of HNB Assurance PLC and HNB General Insurance Limited, respectively.Speaking on their appointment, Stuart Chapman, Chairman of HNB Assurance PLC and HNB General Insurance Ltd, stated “I’d like to extend my warmest congratulations to both Lasitha and Sithumina on their appointment to the respective Boards. Their leadership and contributions to both companies have been instrumental in driving growth and stability across the businesses, and I am confident that their appointment will further strengthen our strategic direction and enhance shareholder value.”Lasitha Wimalaratne has overall over 27 years of career experience with 24 years in the field of Life Insurance inclusive of 7 years of multinational experience at Aviva and AIA groups and 3 years of retail Sales and Marketing exposure in London.Prior to joining HNB Assurance PLC he functioned as the General Manager - Life Operations and Specified Officer at Softlogic Life Insurance PLC. Lasitha Joined HNB Assurance PLC in 2019 and served in the capacity of Chief Operating Officer and Principal Officer prior to being appointed as the Chief Executive Officer of HNB Assurance PLC. Lasitha holds a Master of Business Administration Degree (MBA) from the University of Wales, UK and a B. A. (Hons) Degree in Business Studies from the University of Sunderland, UK. He is a Chartered Insurer and a Fellow Member of the Chartered Insurance Institute (FCII). Lasitha is also a Fellow of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and an Associate Member of the Chartered Institute of Marketing, UK (ACIM). Lasitha functions as the President of the Insurance Association of Sri Lanka (IASL) and served as the President of the Sri Lanka Insurance Institute (SLII) for the period of 2019-2021. Further, he was the Founder Secretary General of the Chartered Insurance Professionals (ACIP) and served as a Council Member until March 2021. Lasitha also was a Board Director of Biodiversity Sri LankaSithumina Jayasundara, has over 27 years of experience in the Sri Lankan insurance landscape. His journey began with leadership roles in Non-Life insurance business at prestigious companies like Asian Alliance, MBSL, Janashakthi, and Eagle Insurance. He further broadened his expertise through international training programmes and conferences, specialising in Re-insurance. In 2014, Sithumina joined HNB General Insurance Limited, quickly rising through the ranks. He was appointed to the Group Executive Committee in 2015 and subsequently took on the responsibilities of Chief Technical Officer, Specified Officer, Chief Operating Officer, and Principal Officer. Beyond his corporate achievements, Sithumina actively contributes to the industry’s development. He was the Past President of the Sri Lanka Insurance Institute (SLII) and is a founding Council Member of The Association of Chartered Insurance Professionals (ACIP) in Sri Lanka. He also serves on the Insurance Association of Sri Lanka (IASL). Sithumina’s academic qualifications are equally impressive. He holds a Master’s Degree in Business Administration from Cardiff Metropolitan University, UK, and is the Sri Lanka award winner of the Advanced Diploma in Insurance (ACII - UK) and is a Chartered Insurer. Additionally, he holds the Senior Associateship of the Australian and New Zealand Institute of Insurance and Finance. He also currently serves as a member of the Expert Advisory Committee for the InsurInnovator Connect Global Series Events – Asia 2025.
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