Ceylinco Life has broken new ground in partnership with Sri Lanka Post to give policyholders in Sri Lanka another 4,000 plus outlets to pay their premiums.
A milestone agreement signed by Postmaster General Rohana Abeyaratne and Ceylinco Life Managing Director/CEO R. Renganathan permits 653 Post Offices and 3,410 Sub Post Offices to collect insurance premia from policyholders of Ceylinco Life.
Postmaster General Abeyaratne said the Department of Posts hoped to begin premium collection some time in December 2016, significantly enhancing convenience for Ceylinco Life policyholders.
Ceylinco Life CEO Renganathan said the collaboration between the company and Sri Lanka Post was a good example of a private sector – public sector partnership that is a win-win for both sides. “For the company, there will be reduction in the cost of collecting premiums and for the Postal Department there will be a new source of revenue,” he said, disclosing that Ceylinco Life’s collections average more than Rs 1.3 billion a month. Ceylinco Life has used Sri Lanka Post’s Speed Post express service to deliver more than 75,000 policy documents to date, Renganathan said.
Ceylinco Life policyholders have several options for the payment of their premia. Besides visiting a branch or making the payment via mobile Point-of-Sale (mPOS) devices carried by the company’s sales personnel, they may pay their premiums online, by bank or credit card standing order, or via the ‘eZ Cash’ mobile payment platform of Dialog or the ‘Mcash’ service of the Mobitel network.