Union Assurance has been recognized as one of the best places to work, ranking among the top 10 in banking, financial services and insurance in Sri Lanka. The distinction from the Great Place to Work Institute (GPTW) confirms the company’s firm commitment to enriching its work culture and empowering its team members. This was the first time that the GPTW Institute recognized companies in this category.
Union Assurance Chairman and CEO Jude Gomes expressed his pride in receiving such a prestigious honour. He said that was largely due to the many initiatives taken by the company to make it a truly great place to work with a meritocratic culture.
“We have always improved the work experience in innovative ways. This is reflected in the high levels of satisfaction and motivation among our employees, which in turn has boosted business performance,” he added.
According to Gomes, the recognition from the GPTW Institute demonstrates the company’s commitment to being an engaging and enjoyable place to work. He thanked staff for their support and cooperation in creating a winning work culture.
“Our success is built on a strong employee value proposition that aligns policies and practices to create an engaging work environment that is conducive to innovation,” he said. He further stated that the focus is on empowering team members.
Mr Gomes noted that the company has quickly adapted digital means to work from home taking into account the health and safety of staff. “As a forward-thinking insurer, we have taken swift action to mitigate the impact on staff and workspaces,” he said. Working from home is now widely practiced in the company, with employees benefiting from flexible working hours. This has led to a results-oriented culture.
“We are a winning organization where employees can achieve their full potential,” said Human Resources Director Imtiyaz Aniff. He stated that they valued their people and appreciated and rewarded them in various ways. These include new opportunities for learning and growth, a good work-life balance and a culture that fuels creativity and innovation.
According to Mr. Aniff, people define the success of the organization. He said the Society has succeeded in creating a strong sense of belonging, togetherness and purpose. “Our team spirit permeates the entire organization, which has greatly contributed to our success as the leader in life insurance in Sri Lanka,” he added.
The Company has many initiatives, including mentorship programs, multiple talent development programs and employee recognition programs focused on people development and career success. Union Assurance has created a corporate culture that empowers and engages people.
Union Assurance attaches great importance to the health and well-being of its employees. This was evident in the way he handled the repercussions of the COVID-19 pandemic. During this critical period, the Company ensured that team members were supported in the growing uncertainty and difficult circumstances. If a member of the team tested positive, assistance and advice were quickly offered. This greatly relieved the fear and frustration they would have felt under such circumstances.
Free and confidential mental wellness support was provided by qualified professionals and consultants. A COVID-19 hotline has also been set up to provide information and support on testing, consultation and hospitalization. Those who were diagnosed received wellness and care packages for themselves and their families, which helped ease the anxiety they were feeling.
Union Assurance regularly hosts health and wellness sessions covering a variety of topics. It also organizes Happy Hours – a virtual platform to engage with employees and their families to encourage fun at work. This is organized monthly to facilitate the confinement of working from home and bring employees closer to each other.
The Company has effectively adapted to the “new normal”. He has developed a number of employee engagement platforms at the team, department and organization level. Despite working remotely, the teams remained motivated and engaged. A perfect balance has been struck between work and play with digital town halls for quarterly updates and Happy Hour sessions to promote camaraderie, with fun and games.
Union Assurance is part of the John Keells Group, one of Sri Lanka’s largest publicly listed conglomerates. It is among the most awarded insurance companies in Sri Lanka, completing over three decades of success with a market capitalization of Rs. 17.3 billion, a life fund of Rs. 49.8 billion and a ratio of capital adequacy (CAR) of 228% in December 2021. Designed to empower the Sri Lankan dream, Union Assurance offers life insurance solutions that cover education, health, investment, protection and retirement of Sri Lankans. With an island-wide branch network and a workforce of over 3,000, Union Assurance continues to invest in people, products and processes with a customer focus. to respond to emerging changes in the life insurance industry.