The award recognizes the company’s groundbreaking use of artificial intelligence (AI) to transform one of the industry’s most time-consuming processes, claims settlement positioning Softlogic Life among Asia’s most innovative and technologically advanced insurers.
The award was from a shortlist of Finalists that comprised Softlogic Life Insurance PLC, AIA Group, Nan Shan Life Insurance Co Ltd.
The Company was also a Finalist for the “Digital Insurer of the Year” award where the list comprised Softlogic Life Insurance PLC, Go Digit General Insurance Limited, Bajaj Allianz General Insurance Company Ltd (BAGIC).
Hosted by Asia Insurance Review, the AIIA is widely regarded as the region’s most prestigious recognition of excellence across the insurance value chain.
The 2025 edition attracted over 200 entries from top insurers and reinsurers across Asia, including AIA Group, Prudential Vietnam, Allianz Malaysia, Nan Shan Life Taiwan, and New China Life Insurance, competing across 17 categories.
All entries were assessed by an esteemed international judging panel of senior leaders and digital transformation experts from organizations including Swiss Re, Munich Re, AXA, AIA Global, Sun Life, and Insurtech Australia, ensuring that each accolade reflected genuine innovation and leadership shaping the future of insurance in Asia.
Softlogic Life’s winning submission, centered on its AI-driven InstaClaim model and related digital ecosystem, showcased measurable breakthroughs in speed, scalability, and customer experience, setting a new global benchmark.
Recently spotlighted by Bloomberg as a global best practice, the company’s model was highlighted as an example for US and European insurers pursuing AI-led transformation.
Built on Microsoft Azure and Google Cloud with proprietary AI layers, the platform has reduced claim settlement times from five days to just minutes, enabling automation at scale to manage around half a million claims that are made annually.
In 2024 alone, the company paid out Rs. 11.1 billion in health and protection claims, nearly five times the industry average.
Despite a 38% surge in claim volume, Softlogic Life achieved an 82% boost in productivity with zero increase in staff, a direct result of intelligent automation and AI integration across claims, underwriting, fraud detection, and customer engagement.
Commenting on the win, Softlogic Life Managing Director, Iftikar Ahamed, said,
“Winning this coveted award among Asia’s best is a proud moment for Sri Lanka and a testament to what our teams have built.
Sri Lanka has long spoken about low insurance penetration, and while awareness is key to improving this, we believe the real catalyst lies in earning customer trust, the confidence that their insurer will be there when it matters most.
This belief drives everything we do. Our mission to redefine what’s possible in insurance is deeply intentional, blending advanced technology with human empathy, from a fully digital sales and servicing ecosystem to AI-powered claim settlements completed in minutes, not days.
Every innovation we introduce is anchored on one principle: strengthening trust. Because at the heart of our transformation lies not just speed or efficiency, but the unwavering assurance that Softlogic Life stands by its promise to protect lives with transparency, reliability, and care when it’s needed most.”
Softlogic Life has consistently led Sri Lanka’s digital transformation in insurance, pioneering breakthrough innovations such as One-minute OPD claim settlement through InstaClaim and now through ClaimIT for Cashless Hospitalization claim settlement.
These advancements, among many others, are key reasons why over 1.3 million Sri Lankans trust Softlogic Life with their lives and continue to remain loyal to the brand.
Softlogic Life EVP/Chief Digital Innovation Officer, Saranga Wijayarathne, added,
“AI at Softlogic Life is about human impact, helping reduce friction, anticipate needs, and enable faster, more meaningful outcomes for our customers.
Around the world, AI is reshaping insurance, driving up to 50% efficiency gains and cutting claim times by more than 70% through responsible AI.
At Softlogic Life, our case is even stronger.
The real success of AI lies in blending data intelligence with human empathy to build trust and transparency.
This award proves that Sri Lanka can lead on the global stage by translating AI transformation into real-world simplicity and customer-centric innovation that enhances quality of lives and delivers lasting trust.”
Softlogic Life’s win at the AIIA 2025 reinforces its position as Sri Lanka’s most progressive life and health insurer, one that stands ready to compete alongside Asia’s best, and even the world’s leading players.
By seamlessly integrating advanced technology with a deeply rooted customer-first philosophy, Softlogic Life continues to deliver faster, smarter, and more accessible insurance solutions for all Sri Lankans, strengthening trust and redefining industry standards.