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The First and only insurance company of its kind in Sri Lanka, the Cooperative Insurance Company Limited (CICL) is a true people's champion. Hailed as an inspiration and a boon, this people's insurer plays a vital role in empowering and transforming the Sri Lankan Insurance service sector.

A business that literally depends on cooperation among people, CICL operates with the aim of protecting and enriching the lives of their customers in the areas of agriculture, fisheries, purchasing, credit, travel, housing, welfare, and medical care.

Champions of the concept of mutual aid and assets, CICL help people to understand the true value behind the concept of ''unity is strength'', using the mutual concept to bring stability and support into people's lives.

A 100% Sri Lankan owned and run business, CICL works through urban, semi urban as well as rural markets where other Insurers have little to offer, and finding solutions for people who once believed that insurance was something they simply could not afford.

CICL is proud to be responsible for the change of rural point of view of the insurance business, creating integrated stakeholder groups that enjoy the benefits of partnership, eliminating exploitation and ensuring security and transparency for all.

For the people, By the people

Having amply demonstrated that ''small is beautiful'' And it is a skill, the size does not determine success. CICL today boasts the 3rd largest service network in the local insurance industry with 48 branches and 120 service Centers Island wide. A Ram rating of BB+ also demonstrates the stable nature of the business, underlining its commitment to its customer base in the long term.

From Vision to Reality

Treasuring quality over quantity, CICL places its emphasis not on the creation of the widest range of insurance products, but on the delivery of exceptional service. Dedicating itself merely not to the concept of making a sale, but to the formation of long term relationship, based on understanding and respect.

With a qualitatively superior service as its goal, the company has carved a niche in which customer relationships have redefined. And it ensures that CICL is not simply synonymous dealing with basic cost reduction and large scale business, but with the settings of a new standard of service excellence.

CICL is a company created by common masses cooperation as shareholders to help the nation in risk management.

In 1999, CICL Company (PB 834) was established by the cooperative movement with its well-wishers. Less than a decade after the conception, the company had to face numerous challenges. But now The Company is one of the fastest growing ventures in the field of insurance in Sri Lanka.

This is a journey that began many years ago, and we owe to the countless individuals who generously and tirelessly devoted their time, expertise and effort, to cultivate CICL. We salute them for their visions and tenacity.

The power of the people is what moves us. Even today, our innovative culture that sets us apart from others in the industry, is based on the premise that we have invested wisely and well in the latest developments in systems and information technology. We are an essential human oriented company. This fact is reflected through our operational culture, and even more on our customers’ delighted faces. It's a Global Endorsement.

CICL is an active member of the International co-operative and Mutual Insurance Federation (ICMIF), which is based in the United Kingdom. The federation is a global community of 120 co-operative Insurance Companies from 65 countries in the developed and developing world, as well as autonomous regional associations covering the United State of America, Europe, ASIA. The ICMIF supports its members through Reinsurance, Training, Consultancy, Research, Department, & Publications.

CICL is a member of the Asia and Oceania Association (AOA).

The Financial portfolio of the CICL is Rs.200 million as an authorized share capital. The capital structure has been purposely kept at that level so as to offer better dividends to stakeholders, as well as with the expectation of the regeneration of the capital through operations. The proof of the success of the structure was manifest in 2013, when the CICL, paid a 14% dividend, the highest payment made by a company that year.

Identifying target markets is critical, because our customers are the future success and growth of our business. Who are our customers and how to find more like them, are the main concerns we should look after. We are always here to serve them effectively and proactively.

Our target market mainly deals with rural and urban low income families and middle income families. Since we have a good repo with all banks, leasing companies and finance companies, we can approach to high income customers and corporate clients too.

We always amplify the message how Co-operative insurance assures the salvage of people’s life and advise them about the survival from tricky insurance which makes us closer to our customer’s heart. This is what differentiates CICL from other competitors. Because just giving an insurance policy is not enough, it’s a collective effort to give beneficial, convenient and trusted insurance resources for a family to stay alive. Which calibrate 3 main competencies of CICL.

Distinctive

Co-operative insurance, as a dynamic private sector company, we are giving a highly attractive and trustful service both in product and after sales services. This is the distinctiveness of the brand. Unlike other providers, with the concept “Customer First”, on every step of their business operations, ensure the products are highly attractive and, certainly gives peace of mind and maximum benefits to customers.

Transforming the static and generic product into family insurance product is one of the key phases in our Process. Through that Co-operative insurance has created a personality for the brand to being more familiar to the target customer. This has helped to eliminate the perception of the insurance being a part in target consumer life.

CICL also distinctive due to the pioneering position gained through “one life policy” concept, which can be seen as a clear differentiator, delivering consumers’ affordability, convenience, and cost effectiveness.

Defensible

Co-operative insurance is a brand of a business conglomerate developed by a unique historical stirring unit called co-operatives, which has created limitless opportunities for Sri Lanka. The embodiment of company achievement and brand image has developed through the years, ensuring that Co-operative insurance remains distinguishable from others making it defensible.

Deliverable

By bringing out the Co-operative skills of individuals, Co-operative insurance delivers value to the society at large. Also with optimum access to consumers through our wide range of channels ensure the availability of products with convenience and also the events, experience and the brand associations, bring value to the customers.

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Mutual funds

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Company growth analysis

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