Janashakthi, a family controlled insurance company, says its partnership with Kayjay to offer sophisticated home security systems to clients has helped boost its previously sagging home insurance business.
“There are many thefts, abductions and lootings happening today,” says Rajesh Kanna, Marketing Manager of Kayjay Group which provides the security system for Janashakthi home policy holders.
At the heart of the security system are small CCTV or closed circuit television cameras that are activated by movement.
“This security system is sophisticated. If a burglar strikes when the home is empty and he crosses this beam it triggers an SMS or a voice mail to your mobile phone,“ says Liyanage, of Janashakthi pointing to the infrared monitors attached to the CCTV cameras.
Vehicles, businesses and life are common things people insure.
“People don’t insure houses because the probability of theft is low but if it happens, the impact can be huge,” says Liyanage, because there could be a lifetime of savings invested in household goods.
Kayjay’s marketing head Rajesh Kanna says 70 percent of their security services are now tied to video surveillance.
Three decade old Kayjay is a pioneer in the local security business and introduced closed circuit video to the Sri Lankan market three years ago.
The system is also capable of surveillance, according to Liyanage.
CCTV cameras can be connected to the home internet connection through a digital video recorder or DVR for viewing on the internet.
It could also be upgraded to connect to any internet enabled phone.
This value addition is available through Kayjay’s home Insurance tie up.
The system's versatility and easy operation has got many corporations also interested.
Rajesh Kanna says it’s also cost advantageous compared to having many security guards.
Ninety percent of Kayjay customers are corporations.
The Taj hotel and big ready made clothes makers like Hidramani and Brandix and manufacturing firms like Richard Peiris already use this system.
Installing a camera on the production floor also discourages workers who tend to take things easy while at work, says Kanna from Kayjay.
A one hundred camera surveillance system can cost up to four million rupees for a company while home systems are smaller and more affordable.
A basic system with four cameras costs 250,000 rupees including facilities allowing for online and mobile phone surveillance.
Because of its surveillance capability it can double up as a spy for working mothers.
“She can watch her child from office. So she can have piece of mind.”
Demand for home insurance policies at Janashakthi have increased since the tie up with Kayjay.
“I guess the response is very good - we have made lots of sales presentations and our initial sales volumes are also very good,” says Liyanage.
Five percent of insurance policies at Janashakthi cover homes against burglaries, fire and floods.
“We strongly believe that there is good scope in this category.”
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