LOLC General Insurance partners with KIA Motors

LOLC General Insurance recently signed a Memorandum of Understanding (MOU) with KIA Motors, sole agent for Kia in Sri Lanka, for vehicle repairs.

The MOU was signed by Kithsiri Gunawardana, Chief Executive Officer of LOLC General Insurance Limited and Andrew Perera, Executive Director/Chief Executive Officer of KIA Motors (Lanka) Ltd. Senior Management officials of both organisations were present during the occasion.

As a result of this partnership, LOLC General Insurance customers who are owners of Kia motor vehicles are now able to enjoy a variety of benefits. For instance, the vehicle owner’s contribution will not apply for the vehicle body parts up to a period of 10 years from the vehicle manufactured year. Furthermore, following the completion of the vehicle repair, the customer is able to collect the vehicle through a payment confirmation letter of LOLC General Insurance, LOLC said in a media release.

LOLC General Insurance, a fully-owned subsidiary of the LOLC Group, recently became Sri Lanka’s first General Insurance company to achieve Rs. 6 billion Gross Written Premium (GWP) in less than 10 years. The company reached the Rs. 6 billion mark in December 2020, becoming the fastest General Insurance company to achieve this milestone in the industry. The company offers a comprehensive range of insurance solutions to both individuals and businesses with products such as Motor Insurance, Sureki Piyasa Home Insurance, Engineering Insurance, Travel Insurance, Title Insurance, Shop Insurance and much more.  

Explaining about the tie-up, “The cooperation with Kia Motors offers us a unique opportunity to expand our market and reach out to many more customers. The needs of customers are continuously increasing and through this partnership we can offer even better solutions to our customers. At LOLC General Insurance our aim is to promote security and peace of mind. As the industry’s fastest growing insurer, we offer fully-integrated, innovative solutions to our customers and that is what sets us apart from the rest”.

Mr. Perera, Executive Director and CEO of KIA Motors (Lanka) Ltd said, “Kia Lanka continues to invest in its employees, facilities and operations to ensure that we offer a superior after sales service to our valued customers at all times. The MOU signed with LOLC General Insurance will further establish this commitment to all our loyal Kia customers insured with LOLC for a period of 10 years for all collision repairs which will provide the confidence to the owner to maintain the vehicle with the company”.

Above: Exchanging the MOU between Mr. Kithsiri Gunawardana - CEO of LOLC General Insurance (left) and Mr. Andrew Perera - Executive Director/CEO of Kia Motors (Lanka) Ltd.