ValueMomentum Hosts Conference on Digitalization in the Insurance Value Chain with Leading Sri Lankan Insurance Technology Executives

The event, located at Taj Samudra, Colombo, was attended by over 60 Insurance technology and business executives representing 75% of the Sri Lankan Insurance Industry.

Colombo, Sri Lanka

ValueMomentum, a leading provider of Software & Services to Insurance Carriers in North America and South Asia, today hosted a conference themed “Digitalization in the Insurance Value Chain”. The event, located at Taj Samudra, Colombo, was attended by over 60 Insurance technology and business executives representing 75% of the Sri Lankan Insurance Industry.

The conference sessions and an interactive panel discussion addressed different aspects of digital technologies in areas such as Insurance product configuration, customer engagement, and business processes automation.

ValueMomentum released the results of a Digital Maturity Survey, reflecting digital strategies and future outlook for digital adoption by executives representing Composite, General and Life Insurance Carriers in Sri Lanka. The survey found high levels of planned and ongoing initiatives in areas of online sales, mobility, and process automation. The survey also found that adoption levels in digitalization areas such as cloud, product configuration, Auto-Underwriting, e-Service, Claims Automation were lower compared to their peers in other emerging markets, offering opportunities for providing higher value to customers and business stakeholders.

The conference featured an engaging panel discussion, comprising of technology executives Mr. Conrad Dias, CIO – LOLC Group, Mr. Namal Gunawardane – Head of IT, HNB Assurance, Mr. Ruwan Bakmedeniya, GM – IT, Union Assurance, Mr. Thilak Vithanage, AGM – IT, Janashakthi Insurance.

“Digitalization in Insurance is a key for Insurance Carriers to engage and serve customers more effectively in order to take advantage of the growth opportunities in the market.” said Mr. Dirk Pereira, CEO of Union Assurance PLC, and Secretary, Insurance Association of Sri Lanka (IASL) during his keynote address to conference attendees.

“Our engagements with global insurance carriers have demonstrated that digital technologies such as insurance product configurators and rating engines, underwriting workbenches and automated underwriting, agent and consumer portals, help insurance carriers manage rapid and profitable growth, while enjoying the patronage of customers, agents and business stakeholders”, said Ravi Rao, President, APAC, ValueMomentum, during the welcome address.

About ValueMomentum

ValueMomentum provides Technology Services & Business Software to Insurance, Financial Services and Health Payor firms. Our Customers like working with us because we deliver value to their initiatives, thereby, driving their momentum. ValueMomentum does this by applying a time-tested formula of combining strong technology expertise with deep Insurance industry experience.

Headquartered in South Plainfield, NJ, ValueMomentum has world class delivery centers in South Plainfield, NJ and Hyderabad, India. There are additional Client Services and Business Development offices in Chicago, IL, Sunnyvale, CA and Hyderabad, India.

Media Contacts:
North America:
Abhijeet Jhaveri,
ValueMomentum, Inc.
Tel.: +1 (908) 755-0370

Asia Pacific:
Ravi Rao,
ValueMomentum, Inc.
Tel: +91 (40) 67338419
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