Phone Cover

March 18, 2007 (LBO) – From fashion accessory to personal organizer to entertainment provider, mobile phones have become every persons must-have, turning mobile dependant Sri Lankans into a big business for insurers.

Mobile phones have the looks for those who want it or increasingly better technology at cheaper prices to suit the most selective customer.

But with everything from a week’s appointments to that urgent telephone number saved on it, losing a phone could cost the owner dearly and not just financially.

Insurers have jumped on the mobile bandwagon, offering Sri Lanka’s mobile-dependant population insurance schemes to protect against mobile disaster like theft.

Insurance providers like Union Assurance and Islamic firm Amana Takaful have already begun rolling out packages, though the concept is yet to pick up.

“The potential is such that if it is marketed properly it is a very useful product to have,” says Kelum Inamaluwa Senior Manager Marketing Development, Union Assurance.

Union Assurance tied up with Dialog Telekom last September to offer Dialog’s corporate and Priority Club members phone insurance.

With some six million mobile phone subscribers in Sri Lanka, the