OpenIMIS implementation in Sri Lanka.

OpenIMIS country hub of Sri Lanka will be aimed towards investigate the potential use of OpenIMIS in strengthening the health insurance system of Sri Lanka. Health Insurance in terms of health financing domain is a poorly researched area in Sri Lanka. this project would be an attempt to strengthen the Health insurance data transaction methodology which would be beneficial for care recipient, care giver, potential stakeholder of insurance industry and researchers.

OpenIMIS Country Hub Focal Point for Sri Lanka: Health Informatics Society of Sri Lanka | info@hissl.lk

OpenIMIS Country Hub Coordinator for Sri Lanka: Dr. C H Senanayake | senanayake.ch2015@pgim.cmb.ac.lk.

In current context the approach can is up in following categories.

1. Baseline study of existing insurance system of Sri Lanka

2. Creating awareness & Obtaining consensus from stakeholders of national insurance framework and its regulatory body

3. development of an action plan to implement OpenIMIS in Sri Lanka based on counter-proposals

4. Pilot project

5. Evaluation of results & absorption into Ministry of Health as a national role-out with consensus from other relevant ministry stakeholders.

Baseline Study of existing insurance system of Sri Lanka was done and presented at OpenIMIS101 webinar on “Health system of Sri Lanka and the emerging role of health insurance” on 2019-08-28 <<Download presentation>>

Health Insurance of Sri Lanka at a glance

As per the Insurance Regulatory Commission of Sri Lanka (IRCSL), 28 insurance companies were operating in the country. Under section 53 of Regulation of insurance industry (Amendment) Act No.3 of 2011, it was made compulsory to segregate composite insurance companies to the two categories of insurance on or before February 2015. Almost all of the composites separated their life and general insurance businesses into two separate companies. Currently there are 448666 Insurance agents, 18467 employees works on 2079 branches islandwide to provide services.

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Insurance regulatory mechanism

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The IRCSL safeguards policy holders through supervisory control of Insurance Companies. Professionals with experience at IRCSL advise the government on policy and laws that would make the industry remain viable, able to meet its commitments to policy holders by helping them overcome risks.

The Insurance Association of Sri Lanka (IASL) was established in 1989 and every insurer registered under the Act is eligible for membership.

The Executive Committee of IASL, which comprises of CEO’s of all insurance companies, is responsible for the overall management of activities, and is assisted by the following committees which make recommendations to the Executive Committee on subjects relating to their respective areas.

• Life Insurance Forum

• General Insurance Forum

• Finance Technical Sub- Committee

• Legal Advisory Forum

• HR Sub Committee

• IT Sub Committee

• Marketing and Sales Forum

• Actuarial Sub Committee

The main objectives of IASL are to:-

1. Bring together all insurers in order to afford opportunities for consultation and co-operation in matters affecting the common interests and welfare of its members and the insuring public;

2. Promote and maintain uniform/sound practices and high ethical standards so as to develop confidence among the insuring public;

3. Create awareness regarding the need and value of insurance among the public;

4. Monitor legislative / regulatory requirements and make representations to the relevant authorities in order to ensure stability and growth in the industry;

5. Review and examine insurance practices and techniques in other countries and adopt best practices as applicable to the Sri Lankan market.

6. Encourage, actively assist and promote professionalism in the insurance industry through education and training by partnering with professional and academic institutions/ bodies and reinsurance partners operating in Sri Lanka.

The objective of the Sri Lanka Insurance Ombudsman scheme is the satisfactory settlement of complaints/disputes that policy holders of insurance companies (the insured) may have against the company that sold them the insurance policy (the insurer). This is the officer with whom the Insurance Ombudsman liaises with to mediate/settle any disputes/complaints submitted to him by dissatisfied policy holders.

Sri Lanka Insurance Institute (SLII)

The Sri Lanka Insurance Institute (SLII), which was established in 1982, is a non-profit making organization whose main objective is to develop the skills and knowledge of persons who are in the insurance business. Funding for SLII is through contributions made by insurers and annual subscriptions from its members.

The main objectives of SLII are:

1. To provide and maintain a central organization for the promotion of professionalism, progress and general development among persons engaged or employed in insurance, whether members of the SLII or not, with a view not only to their own advantage but of rendering the conduct of such business more effective, and to instil and maintain professionalism in the industry;

2. To conduct courses leading to Diploma and Certificate qualifications in order to develop knowledge about insurance;

3. To conduct examinations to encourage and assist the professional study of any subject bearing on any branch of insurance through recognized educational institutions;

4. To hold conferences and meetings for the discussion of professional affairs, interests and duties, the reading of papers and delivery of lectures; to compile lists, registers and records of events and proceedings of interest to the members; and

5. To exercise professional supervision and control over the members of SLII to safeguard their interests and welfare, to further their advancement, and to promote whatever may lead to the improvement of the status of insurance officials in general and the members of SLII in particular.

SLII is affiliated to the Chartered Insurance Institute of London and administers the examinations.