Jan 31, 2008 (LBO) – Sri Lanka’s Ceylinco Insurance says it is launching a life insurance week in February to increase awareness of life products and expand the life insurance market in the country. Ceylinco says market penetration for life insurance is 8.7 percent in Sri Lanka despite marketing initiatives by a competitive industry.
“We believe that the level of penetration of life insurance in our market is too low, Ceylinco Life’s Chief Executive Director, R. Renganathan said.
“We have to make the average Sri Lankan aware of the fact that life insurance is not for those who die. That’s for those who live,” he said
The company will have a series of activities from February 11 to 17 aimed at educating the people on the benefits of life insurance.
“Greater public awareness is definitely the need of the hour,” Renganathan said.
Ceylinco says they have printed thousands of booklets and leaflets to help people understand life insurance.
The company is set to kick off awareness campaigns in Anuradhapura, Trincomalee, Ambalanthota, Ratnapura, Gampaha, Teldeniya and Kalutara during the insurance week.
It is also planning to send mobile sales teams to conduc