Home, motor insurance from SLI for HSBC premier customers

HSBC has announced a landmark agreement with Sri Lanka Insurance the country’s pioneer in Insurance to provide customised general Insurance solutions to HSBC Premier customers. The signing took place between Mr. David J H Griffiths, Chief Executive Officer for HSBC Sri Lanka and the Maldives and Dr. Nalaka Godahewa, Chief Executive Officer of Sri Lanka Insurance on 14 March, 2008.

Under the agreement HSBC Premier customers will receive Home Insurance and Motor Insurance solely designed to suit their individual requirements. The new offering will fulfill a speedy and convenient service to customers enabling prompt settlement of claims, competitive premiums, technical expertise and branch network support when necessary.

David J H Griffiths Chief Executive Officer for HSBC Sri Lanka and the Maldives said, “We are pleased to be associated with Sri Lanka’s pioneer insurer, Sri Lanka Insurance, to offer our Premier customers a value added service and the best in insurance products. We at HSBC strive to provide our customers with a total financial solution within the regulatory framework. Therefore, our commitment to delight our customers has resulted in this alliance which is targeted at bringing the best-in-class services and rewards to honour the loyalty of our Premier customers”.

A specialist team of insurance staff will be assigned by Sri Lanka Insurance to visit Premier customers at their doorstep in addition, to the designated 24 hour customer hotline to facilitate telephony between HSBC Premier customers and Sri Lanka Insurance staff, in the event of an emergency.

Dr. Nalaka Godahewa, CEO of Sri Lanka Insurance said, “Bancassurance is becoming extremely popular in the rest of the world because of the benefits it offers to the customers. Though it is a relatively new concept in Sri Lanka I am sure people will welcome it. It is great to have HSBC as a partner in promoting insurance solutions. Both are highly reputed and stable companies who have won the trust of the general public. This partnership will help us achieve new heights in this field by creating superior value to the customers”.

The SLI Home Insurance scheme is a comprehensive and highly advantageous solution to all seeking a total home cover. Designed in four packages, the scope of cover and the premiums change significantly, based on the package designed to suit varied customer needs. These packages bundled with benefits to withstand unforeseen risks include, Fire and Lightning, Burglary, House breaking and theft, Natural disaster, cyclone, storm, Tempest and Flood, Earthquake, Riot and Strike, Malicious damage, Terrorism, Explosion, Impact damage, Electrical extra, aircraft damage and bursting and overflowing of water tanks.

The SLI Motor Insurance scheme - ‘Formula Plus’ is designed to provide customers with convenience and an excellent service. With this motor insurance policy, customers have the option of receiving an accurately assessed claim within 6 hours or having the damaged vehicle repaired to manufactures specifications at Sri Lanka’s only state-of-the-art Collision Repair Cen tre– Formula World in Seeduwa. In addition, HSBC Premier customers can also enjoy Formula Plus Platinum benefits which include the following:

• 24-hour call centre support
  
• 24 hour road side assistance island-widemore
  
• Special Insurance benefits for HSBC Premier customers from Sri Lanka Insurance/3
  
• Free personal accident cover worth Rs. 1,000,000
  
• Free hospitalization cover
  
• Free surgery cover up to Rs. 300,000
  
• Hiring charges for renting a vehicle up to Rs. 15,000 per day
  
• No claim bonus of up to 70% (earned)
  
• Free recovery and towing facility
  
• 14-day automatic cover (3rd party) at renewal
  
• Formula World to restore your vehicle after an accident
  
• Exclusive discounts and rebates on Premiums

HSBC is the undisputed leader in the credit card sector in Sri Lanka, with over 279,000 credit cards in circulation, available in Classic Visa and MasterCards, Gold Visa and MasterCard, Visa Platinum card and HSBC Premier MasterCard credit cards.

Sri Lanka Insurance is the first insurance company to be rated AA-(sri) for National Insurer Financial Strength and A+ (sri) for National Long Term Credit, by Fitch Ratings (London). Adjudged as the No 1 Insurer in the country at the National Business Excellence Awards for two consecutive years, Sri Lanka Insurance was the only Insurance Company to be judged A ‘Superbrand’ by Superbrands Lanka (Pvt) Ltd.

Sri Lanka Insurance is the largest and strongest composite insurance provider in Sri Lanka with Rs. 58 billion worth of assets under management, over one million policies in force and with an average claims settlement of Rs.18 million a day. Sri Lanka Insurance also has the largest Life Fund of Rs. 38 billion.

Known for its technological innovation, superiority and worldwide brand recognition, HSBC further consolidates its position as a leading financial institution in the country. HSBC, Europe’s largest bank by market value, was named the world’s most valuable banking brand by the Banker magazine’s Top 500 Financial Brands listing (1). It was also the only bank featured in the study to achieve the highest possible triple ‘A’ brand rating. With over 10,000 offices in 82 countries, HSBC continues to be the world’s local bank with a comparably strong presence in North and South America, Europe and Asia Pacific.