Sri Lanka’s fastest-growing life insurer Softlogic Life recognised their top-performing employees of the organisation’s Alternate Distribution Channel recently at the inaugural ‘Alternate Channel Sales Awards 2020’, held at the Cinnamon Grand Colombo.
Hosted under the theme ‘Destination One’, the awards night celebrated the best-of-the-best achievements of alternate channel’s top employees whose relentless and passionate efforts helped the strategic business unit to record a remarkable Rs.3 billion gross written premiums (GWP) by the end of 2019 in just three years in operations, The award ceremony was graced by Softlogic Life Managing Director, Iftikar Ahamed, Executive Director Chula Hettiarachchi, key members of Softlogic Life’s management team, distinguished guests and employees from Softlogic Life.
A total of 29 awards under 7 categories were distributed among the winners at the inaugural Alternate Channel Sales Convention. MDRT (Million Dollar Round Table) – Top of the Table (ToT) winner, Court of the Table (CoT) winner, Best Performer in MDRT, Highest GWP Performer (Business Advisor Category) and Highest GWP Performer emerged as grand category award winners of the night. The MDRT winners of 2019 from the alternate channel were also felicitated at the convention.
Congratulating all winners, Managing Director Iftikar Ahamed said, “We are extremely proud of the Alternate Channels Team that has surpassed all industry norms in creating history and achieving the number one position in Single Premium and Group Premium business within a very short space of time. This is further proof that the Industry is under-penetrated and offers great potential. This dynamic team will focus on differentiaited customer sgments with valuable product solutions as we forge ahead.” Softlogic Life launched its alternate distribution channel in 2017 to diversify its portfolio into other revenue streams. It has insured more than 630,00 Sri Lankan lives while currently serving many corporate clients and establishing multiple bancassurance partnerships. Securing premiums of One billion GWP in its initial year, the young and dynamic team at Alternate Channels has taken great strides to drive business to great heights while achieveing outstanding revenue growth to Rs. 2 billion and Rs. 3 billion GWP in 2018 and 2019 respectively. The alternate channel alone has groomed 15 MDRT members in 2019 including 3 Courts of the Table and 1Top of the Table.