Originally published by ICMIF.
28 November 2025
Sri Lankan ICMIF member Sanasa Life Insurance Company (SLIC) has completed a strategic and financial review of the first year of its UNDP ICMIF Insurance Innovation Challenge (IIC) project, known as Labandi Ran Wasi (LRS), with the support of ICMIF member DHAN Foundation (India). The review, held from 25–29 August 2025, included financial checks, strategic discussions, and field visits. It provided useful insights into the early rollout of the LRS policy and helped SLIC and DHAN Foundation agree on practical steps to improve project management, reporting and compliance as the programme scales.
The Insurance Innovation Challenge (IIC) helps mutual and cooperative insurers design and scale inclusive insurance solutions. This technical assistance mission was part of The ICMIF Foundation’s unique South–South platform created under the IIC, which enables practical learning and knowledge-sharing between mutual microinsurance leaders.
In addition to the financial audit and strategic discussions, the review also included field visits and staff capacity-building sessions. The audit verified Year 1 grant expenses, co-funding and reporting systems, while the strategic review assessed scaling strategies in product reach, marketing, distribution and technology use. Field visits provided the opportunity to see first-hand how inclusive insurance is reaching and impacting communities, and training seminars helped SLIC staff strengthen skills in project management, reporting and sustainability. The engagement concluded with a debrief meeting where SLIC agreed to improve data systems, assign dedicated project staff at both head office and field level, and work with DHAN Foundation on a joint action plan to simplify processes, engage clients more effectively and support the continued growth of Labandi Ran Wasi.
“Supporting SANASA allows us to share our experience whilst also learning from their context. We saw both the potential of the Labandi product despite regulatory challenges, and the need for stronger data systems and dedicated project management. These exchanges help us to work together on practical improvements, making inclusive insurance solutions more relevant and sustainable for the communities they serve,” said Ahila Devi Subramanian, Chief Executive, People Mutuals, DHAN Foundation (India).
“We recognise there have been some gaps in our implementation, but thanks to the guidance of the colleagues from DHAN, we now have been guided toward the path forward,” said Savitha Herath, Human Resources Development, SLIC (Sri Lanka). “The review has helped us identify practical next steps to strengthen our project management and data practices, giving us motivation to achieve our Year 2 targets and help provide coverage for microentrepreneurs.”