Sri Lanka Insurance revamps brand identity

For a product to be successful, the logo needs to be attractive which then draws the attention of the consumer spontaneously.
This comment came from Hemaka Amarasuriya, a veteran business professional now heading the Sri Lanka Insurance Corporation (SLIC), when he spoke at the launch of a revamp of the company’s brand identity on Wednesday at the SLIC Head office, Vauxhall Street, Colombo.
The revamping focused on four areas – Product and IT development, expansion of branch network and ensuring a progressive team.
Mr. Amarasuriya said that he too had noticed that the present logo though attractive, that attractiveness is not competitive enough to stand strong among not only other rival insurance brands but also the logo should be attractive among all the other distinct logos in the market.
He said: “It should be like a magnet to attract the consumer” and quoted the English saying ‘One swallow does not a summer make’ indicating that though the logo is changed, the competition will not change, but all of them must strive to bring back the lost glory to be the giant in insurance in Sri Lanka.  
To establish that stability that has been enjoyed by the SLIC, he said that the branch network should also be expanded to match with other large businesses operating with branch network.  He said they have only around 150, but like established banks their range is 220 to 300.  By the end of the year they are working hard to double the number.
Chandana Aluthgama, CEO, SLIC said that the revamping would turn a new page in the SLIC which has been running for the last 56 years and is moving with the modern trends.  They have gained 19 per cent progress in the life insurance sector and 28 per cent in the general insurance sector. He said that the change-over to a new logo is an opportune turning-point to change their journey to a new era with new concepts and modern technology. (QP)