International Relationships

International Relationships

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International Finance Corporation (IFC)

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International Finance Corporation (IFC)

IFC, a member of the World Bank Group, is an international organization whose mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives. Furthermore, GIIF seeks to support the development of local markets for insurance in SME segment, with a particular focus on developing insurance for employees and employers in small and medium enterprises in Sri Lanka. In terms of the IFC’s objectives, it has agreed to provide financial and technical assistance to implement a project for development of insurance scheme for SME sector in Sri Lanka. The implementation of the project is now in progress and a pilot test has already been launched in Galle districts, Colombo and Kurunegal district to test insurance product develop for SME’s in Sri Lanka.

International Labor organization (ILO)

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International Labor organization (ILO)

The ILO is the international organization responsible for drawing up and overseeing international labour standards. The main aims of the ILO are to promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue on work-related issues. The Microinsurance Innovation Facility of International Labour Organization (ILO) was established in 2008 to support the extension of insurance to millions of low-income agricultural workers in the developing world, with the overall aim of reducing their vulnerability to risk. The main objectives of the Facility are to increase the availability of better insurance products for a greater number of low-income households, stimulating the market for microinsurance among low-income people – activities support the development of insurance products, introducing institutional models and partnerships, and the education of potential consumers on the utility and value of insurance. In order to achieve these objectives Sanasa Insurance Company has been offered a grant to implement a project for development of successful replication and dissemination strategy for weather-based crop insurance for paddy cultivation in Sri Lanka. An insurance scheme based on weather index came in to operation for the first time in Sri Lanka by Sanasa Insurance Company and this project has been instrumental in promoting insurance awareness among paddy farmers and their access to insurance to a greater extent. The project is in progress and is due to end in September 2012. Even this project is faced off, ILO follow up this project yearly.

The International Cooperative and Mutual Insurance Federation (ICMIF)

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The International Cooperative and Mutual Insurance Federation (ICMIF)

The International Cooperative and Mutual Insurance Federation (ICMIF) is a long established and unique global trade association representing more than 220 cooperative and mutual insurers from over 70 countries worldwide. ICMIF aims to promote and work with the cooperative and mutual insurance sector globally by being a leader in providing information and services to members, and representing the interests of, the global cooperative and mutual insurance sector. Sanasa Insurance Company (SICL) as an active member of ICMIF has been involved during the last two decades in various activities conducted by ICMIF to achieve its above mentioned objectives. SICL also has taken great interest to be represented itself in various conferences, seminars and workshops organized by the ICMIF. Currently, Dr. P.A.Kiriwandeniya, serving as a member of the development committee of ICMIF has been responsible in making Sanasa Insurance Company a well-known organization among large number of cooperative and mutual insurers world over. To prove this strong relationship, SICL with other two ICMIF members in Sri Lanka, organized “The ICMIF 5-5-5 Inclusive Mutual Insurance Symposium 2015” in Colombo. 2015 is the first year for the ICMIF 5-5-5 strategy to extend mutual insurance to an extra five million low income households over five years in five countries which would provide protection to around twenty million individuals

The Asia and Oceania Association (AOA)

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The Asia and Oceania Association (AOA)

The Asia and Oceania Association (AOA) of the International Cooperative and Mutual Insurance Federation (ICMIF) was established in 1984 to promote mutual friendship and exchange of information among ICMIF members in Asia and Oceania. AOA’s secretariat is based at the international affairs division of Zenkyoren (The National Mutual Insurance Federation of Agricultural Cooperatives). The association promotes the cooperative and mutual insurance movement in Asia and Oceania and provides opportunities for the members to express their opinions on the activities of ICMIF. Membership of the AOA is composed of organizations that are qualified as full members, associate members or observers of ICMIF in the Asia Oceania region. Dr. P.A. Kiriwandeniya has been serving as a member of the Board of Directors of AOA since 2005 and at present he is serving as vice chairman of AOA. AOA also has been very helpful to Sanasa insurance company by granting two scholarships consecutively for last two years to attend Advanced Management Courses conducted by ICMIF in UK

Development International Desjardins (DID)

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Development International Desjardins (DID)

Development International Desjardins (DID), one of Canada’s largest financial institutions with a mission to contribute to the economic and social well-being of individuals and communities both nationally and internationally. DID, has been active in Sri Lanka since 2005, when it began a four year intervention to assist SANASA in post -tsunami rebuilding and development. This work led to resorting access to financial services for the population and SANASA has provided wider range of microinsurance products and services. DID also extended its services also to the microinsurance sector by offering financial and technical assistance to Sansa Insurance to enhance insurance awareness among low income households in areas affected by tsunami and to conduct feasibility study for establishing a crop insurance plan based on weather index. In consequence of the feasibility study, ILO decided to award a grant for Sanasa Insurance to implement a project for development of weather index insurance for paddy crop