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An insight story<br />Insurance Industry in Sri Lanka<br />www.lankarising.com<br />
<ul><li> Insurance is the transference/sharing of risk
 A Form of a risk management
 A professional service field
 …….</li></ul>What were you told / taught ?<br />
<ul><li> Exploit fear of people
 Shrewd business model
 Unethical marketing</li></ul>What do they really operate on?<br />
<ul><li> What does terrorism operates on?
Terror or Fear !!
 Insurance business / industry is also based on fear of people
 More you feared or terrorized, better for the insurance business </li></ul>Exploit fear mentality of people<br />
<ul><li> An insurance is only thing you buy, that you hope you will never use
 Still you want to buy a insurance, mostly because of external negative factors in the society</li></ul>Shrewd business mo...
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Insurance industry in sri lanka - Insight story

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Insurance industry in sri lanka - Insight story

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Insurance industry in sri lanka - Insight story

  1. 1. An insight story<br />Insurance Industry in Sri Lanka<br />www.lankarising.com<br />
  2. 2. <ul><li> Insurance is the transference/sharing of risk
  3. 3. A Form of a risk management
  4. 4. A professional service field
  5. 5. …….</li></ul>What were you told / taught ?<br />
  6. 6. <ul><li> Exploit fear of people
  7. 7. Shrewd business model
  8. 8. Unethical marketing</li></ul>What do they really operate on?<br />
  9. 9. <ul><li> What does terrorism operates on?
  10. 10. Terror or Fear !!
  11. 11. Insurance business / industry is also based on fear of people
  12. 12. More you feared or terrorized, better for the insurance business </li></ul>Exploit fear mentality of people<br />
  13. 13. <ul><li> An insurance is only thing you buy, that you hope you will never use
  14. 14. Still you want to buy a insurance, mostly because of external negative factors in the society</li></ul>Shrewd business model<br />
  15. 15. Why do you take following insurances?<br /><ul><li>Vehicle accident insurance
  16. 16. I am a safe driver, but others are careless
  17. 17. Burglary insurance
  18. 18. Robbers / Burglar are in the society</li></ul>“One man's problem is another man's business opportunity”<br />
  19. 19. <ul><li> Inflicting fear on potential consumers
  20. 20. Promoting accidents / robbery in the society</li></ul>Unethical marketing<br />
  21. 21. <ul><li> When you met with a accident Ceylinco insurance is rewarding you
  22. 22. They like to promote accidents, otherwise vehicle accident insurance industry will be bankrupt !</li></ul>Reality<br />
  23. 23. <ul><li>CeylincoInsurance
  24. 24. Sri Lanka Insurance
  25. 25. CTC Eagle</li></ul>Who were the giants by 2005<br />
  26. 26. <ul><li> Big or small protect you all
  27. 27. We will take care you like the eyes
  28. 28. We care you all
  29. 29. ……</li></ul>What they promised?<br />
  30. 30. <ul><li> Owned by Ceylon Tobacco Company (CTC)
  31. 31. CTC’s main revenue was manufacturing and marketing cigarettes and other tobacco based products
  32. 32. Will a tobacco company really care people as they promise in insurance advertisements?</li></ul>CTC Eagle (by 2005)<br />http://www.avivandb.com/about_us/history.html<br />
  33. 33. <ul><li> The state owned property was robed by business tycoon Harry Jayawardana
  34. 34. He already owned Distilleries Company of Sri Lanka (DCSL)
  35. 35. What kind of assurance to your life did you expect from an insurance company owned by a arrack busnessman?</li></ul>Sri Lanka Insurance (by 2005)<br />
  36. 36. <ul><li>CeylincoInsurance Company was a Lalith-Sisilliakotalawala family business
  37. 37. Kotalawala’sfinancial frauds are now fully exposed to the nation
  38. 38. What kind of a protection you expected from a crook?</li></ul>Ceylinco Insurance (by 2005)<br />
  39. 39. For more presentations<br />visit<br />www.lankarising.com<br /> © Lanka Rising<br />

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