Association/Company: Sanasa Life Insurance Company PLC. (SICL) and Dhan Foundation
Country: India
In September 2024, P.G. Asanka Gayan, Senior Manager – Life Operations at Sanasa Life Insurance Company PLC. (SICL) (Sri Lanka), participated in the Advanced Reflective Education and Training (ART) course on Mutual Insurance in India. The assignment, part of the UNDP ICMIF Insurance Innovation Challenge (IIC) Technical Assistance Programme, aimed to strengthen SICL’s microinsurance strategies by learning from Dhan Foundation’s experience in mutual microinsurance and risk resilience.
Who was the assignment for?
The assignment was for SANASA Life in Sri Lanka as part of the UNDP ICMIF Insurance Innovation Challenge (IIC) Technical Assistance Programme. The objective was to enhance the microinsurance strategies of SICL by learning from Dhan Foundation’s experience in mutual microinsurance, particularly in addressing financial protection gaps for underserved communities.
What was the assignment?
The purpose of the assignment was to provide practical exposure to sustainable mutual microinsurance models. An SICL representative attended the Advanced Reflective Education and Training (ART) course on Mutual Insurance, designed to equip participants with risk management solutions for poverty alleviation. The course covered topics such as social capital, mutuality in microinsurance, product design, and rural outreach strategies.
How did it work?
The assignment took place from 10th to 13th September 2024 in India. P.G. Asanka Gayan, Senior Manager – Life Operations at SICL, participated in classroom sessions, workshops, and a field visit to observe mutual insurance in action. The training included hands-on learning in product development, risk resilience, and community engagement. Asanka also engaged with experts from Dhan Foundation to exchange insights on challenges in reaching low-income populations.
What has been the impact of the assignment so far?
The exposure provided SICL with key insights into the practical application of mutual microinsurance, particularly in designing products tailored to rural and low-income communities. Asanka’s learnings will contribute to scaling up SICL’s Labandi Ran Wasi (LRS) product for women-led MSMEs. The assignment also reinforced the importance of risk resilience centres and community-driven insurance solutions. SICL is now exploring further collaboration with Dhan Foundation to integrate best practices into their microinsurance initiatives.
About DHAN Foundation
DHAN Foundation is a development organization established in 1997 to drive poverty eradication through community-led innovations in microfinance and microinsurance, small-scale irrigation, and sustainable agriculture. It empowers marginalized communities, strengthens local governance, and influences policies for inclusive development. DHAN offers the Advanced Reflective Education and Training (ART) course on Mutual Insurance, equipping professionals with practical insights into sustainable mutual insurance models for financial resilience. The program covers product design, risk management, and outreach strategies to enhance insurance access for underserved communities. Through expert-led sessions and field exposure, participants gain the skills to develop inclusive, community-driven insurance solutions.
P.G. Asanka, standing at the center, discusses Sanasa Life’s initiatives with fellow participants.
"In summary, I realised the significant need for insurance solutions to address health and life risks among underserved communities. DHAN Foundation's technical assistance will help SANASA promote insurance awareness, support mutual insurance initiatives, and enhance social responsibility. If successful, it will also ensure the sustainability of SANASA’s project with the ICMIF Foundation on women-led MSMEs."
P.G. Asanka Gayan, Senior Manager – Life Operations, SICL
"Mutual microinsurance is a powerful tool for financial resilience in low-income communities. By sharing our experience with SANASA Life, we aim to support their efforts in expanding inclusive insurance and social protections. This collaboration also allows us to demonstrate how our expertise can help address challenges faced by similar institutions, enhancing the Foundation’s collective ability to deliver effective solutions for underserved populations."
Ahila Devi Subramanian, CEO, People Mutuals, DHAN Foundation