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HNB Assurance & HNB General Insurance Journey with Lean Six Sigma

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.

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19

Mar

HNB Assurance Celebrates First Anniversary of Empowering Women with In.She

<p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">HNB Assurance PLC proudly celebrated the first anniversary of its groundbreaking women empowerment program, In.she. This initiative, designed to uplift and support women within both the insurance industry and the company, aims to foster gender equality and diversity.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Launched on March 8<sup>th</sup>, 2023, in celebration of International Women's Day, In.she has exemplified HNB Assurance's commitment to creating an inclusive workplace and empowering women to excel in their careers. The program's first-year celebration, held at the Royal MAS Arena, set the stage for a continued journey of empowerment and growth.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">In recognition of its efforts, HNB Assurance was recognized as one of the female-friendly workplaces to work in 2023, a testament to the company's support for women's advancement and well-being.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">The first anniversary celebration, themed "Glamor Galore," showcased a fashion show featuring designs and models from within the company's talented staff. Additionally, a panel discussion was hosted during the event, featuring esteemed personalities such as Yureni Noshika, Chathurika Peries, Ruchira Karunarathne and Dilini Jayasuriya.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Mr. Lasitha Wimalaratne, CEO of HNBA, sharing his thoughts at the first year anniversary of In.She, stated, "</span> <span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">At HNB Assurance, we are committed to creating an inclusive workplace where every individual, irrespective of gender, has the opportunity to excel. However, we must acknowledge that there are specific challenges that disproportionately impact women due to social and cultural factors, a key feature of our In.She program is to address and overcome these obstacles by providing support and resources required."</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Mr.</span> <span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">Navin Rupasinghe, Head of Human Resources / Assistant General Manager of HNBA, added, "Our journey with In.She has been incredibly rewarding and we are thrilled to celebrate its first anniversary. Through this program, we have witnessed the remarkable potential of our female workforce. I’d like to take this opportunity to congratulate the In.She team for their efforts and passion in driving this initiative, let me also remind and emphasize that the management stands firmly behind this endeavor, offering complete support to ensure its continued success.”</span><o:p></o:p></p>

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15

Mar

HNB Assurance Group Unveils “Liya Harasara 2024” in Celebration of Women

<p class="MsoNormal" style="line-height:115%;">HNB Assurance PLC, in collaboration with its fully owned subsidiary, HNB General Insurance Limited, proudly launched the 12th edition of "Liya Harasara," an annual initiative dedicated to acknowledging and supporting the contributions of women along with the remarkable essence of womanhood, while celebrating International Women’s Day.<o:p></o:p></p><p class="MsoNormal" style="line-height:115%;">Mr. Harindra Ramasinghe, Chief Business Officer - Advisor Distribution Channel at HNBA, emphasized the pivotal role women play in the fabric of society. He stated, "Women are undeniably the cornerstone of any community, driving progress and enriching lives. It gives us, as an organization, immense pleasure to unveil the 12th edition of ‘Liya Harasara’, which has evolved into a highly anticipated event in our annual calendar. This year's ‘Liya Harasara’ program promises an array of exclusive insurance benefits, coupled with exciting partnerships with leading brands such as Asiri Hospitals, Vision Care, Eric Rajapakse, La Vivente, Chamathka, Pizza Hut, Taco Bell and Singer, offering special discount schemes to new female policyholders.”<o:p></o:p></p><p class="MsoNormal" style="line-height:115%;">Mr. Sanesh Fernando, Chief Business Officer – Partnerships at HNBA, shared his thoughts, stating, "Through ‘Liya Harasara’, we aim to acknowledge and support women's multifaceted contributions, enabling them to navigate their roles with confidence and peace of mind. As we launch “Liya Harasara” in celebration of International Women’s Day, I’d like to extend a warm invite to all women to seize the opportunities and benefits presented by ‘Liya Harasara’, available from March 1st to April 30th, 2024.&nbsp;<o:p></o:p></p><p class="MsoNormal" style="line-height:115%;">“Liya Harasara stands as a testament to our enduring commitment to empowering women and acknowledging their invaluable contributions”, said Mr. Dinesh Yogaratnam, Chief Marketing and Customer Experience Officer of HNBA, "The 12th edition of Liya Harasara reflects our aim to foster a supportive environment where all women can thrive, excel, and lead with confidence. The theme of our campaign is paying ‘Tribute to the spirit of Womanhood’, through which we honor their journey, celebrate their achievements and inspire future generations to continue breaking barriers and pursue their dreams.”<o:p></o:p></p><p class="MsoNormal" style="line-height:115%;">The 12th edition of Liya Harasara includes a Free Life Cover of up to Rs. 1 Million for one year from HNB Assurance for Regular Premium Life Insurance policies. Additionally, policyholders will enjoy a Daily Benefit for childbirth and pregnancy-related hospitalization, capped at three days per year. Furthermore, Liya Harasara offers a complimentary Personal Accident Cover of up to Rs. 500,000 for every Motor Insurance Policy acquired from HNBGI. More information on benefits, exclusions, terms and conditions can be obtained by contacting 1301 or visiting a HNB Assurance branch.<o:p></o:p></p>

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26

Feb

HNB Assurance Welcomes Rimoe Saldin as Non-Independent Non-Executive Director

<p class="MsoNormal" style="line-height:normal;margin-bottom:0in;mso-layout-grid-align:none;text-align:justify;text-autospace:none;">HNB Assurance PLC is pleased to announce the appointment of Mr. Rimoe Saldin<span style="font-size:12.0pt;"><strong>&nbsp;</strong></span>as Non-Independent Non-Executive Director to its Board with effect from 19 February 2024.<o:p></o:p></p><p class="MsoNormal" style="line-height:normal;margin-bottom:0in;mso-layout-grid-align:none;text-align:justify;text-autospace:none;">&nbsp;</p><p class="MsoNormal" style="line-height:normal;margin-bottom:0in;mso-layout-grid-align:none;text-align:justify;text-autospace:none;"><span style="color:black;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-themecolor:text1;">Mr. Rimoe Saldin is a Fellow of the Institute of Chartered Accountants of Sri Lanka and an Associate of Institute of Chartered Accountants of England and Wales. He is also a Fellow of the Chartered Institute of Management Accountants in UK and a Certified Management Accountant, Australia. He is an alumni of the Asian Institute of Management Manila. He has over 30 years of top management level experience in the areas of Finance, Human Resource Development, General Management and Operations as well as Chief Executive Officer.</span></span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;mso-margin-bottom-alt:auto;mso-margin-top-alt:auto;text-align:justify;"><span style="color:black;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-themecolor:text1;">He is currently employed as Director of Paints &amp; General Industries Limited and Director/Chief Executive Officer of Polypak Secco Limited. He is also the Chairman of Chemanex PLC and serves as a Director of CIC Holdings PLC. He also serves on the Board of Directors of Akzo Nobel Paints Lanka (Private) Limited, Link Natural Products (Private) Limited</span></span><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">, CIC Agri Businesses (Pvt) Ltd and a number of companies in the CIC Group. He is the Chairman of CISCO Speciality Packaging (Private) Limited</span><b style="mso-bidi-font-weight:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;"><strong>.</strong></span></b><span style="color:black;"><b style="mso-bidi-font-weight:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-themecolor:text1;"><strong>&nbsp;</strong></span></b><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-themecolor:text1;">He also serves in the Board of Directors of Hatton National Bank Plc and also is Chairman of Sithma Development (Private) Limited</span><b style="mso-bidi-font-weight:normal;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-themecolor:text1;"><strong>&nbsp;</strong></span></b></span><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;">and serves as a Trustee of the HNB Sustainability Foundation.</span><o:p></o:p></p><p class="MsoNormal" style="line-height:normal;mso-margin-bottom-alt:auto;mso-margin-top-alt:auto;text-align:justify;"><span style="mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;mso-fareast-font-family:&quot;Times New Roman&quot;;">Previously Mr. Saldin served as the Commercial&nbsp;Director and Group Finance Director of CIC&nbsp;Holdings PLC for the period 1995-2005. He&nbsp;was the Country Controller &amp; Group Finance&nbsp;Director for Shell Sri Lanka for the period&nbsp;2005-2010 and also the Group Chief Operating&nbsp;Officer, Browns Group of Companies PLC and&nbsp;the Managing Director of Browns Investments&nbsp;PLC from 2010-2014.</span><o:p></o:p></p>

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