From a platform of care to a platform of trust, Union Assurance has transformed its image in the insurance sector with a new look, a new brand promise and a new logo. Dirk Pereira, Chief Executive Officer of Union Assurance explained that though the brand has changed, the core values of the insurer remain strong.
“We have a fresh brand promise that was created to deliver an unparalleled level of trust. Trust is the most important factor in our business because at the end of the day, insurance is a long-term agreement and the consumer looks for a trusted partner to work with. We are building on the trust that we have acquired over two decades of business in the insurance sector,” Pereira explained. He added that the entire company, with a workforce of 2800 empowering 50 branches across the island, was aligned to embrace this new opportunity.
The process of re branding the iconic Union Assurance image however, came after extensive research. Rukman Weeraratne, General Manager – Marketing and Distribution, explained, “We at Union Assurance felt the heartbeat of the consumer clearly. We know what they are looking for and we have equipped ourselves to service their needs. In Union Assurance, we have two lines of business.”
Weeraratne also went on to say, “Our extensive internal and external research shows, that in general insurance, people primarily look for convenience, while in life insurance, they look for transparency. We combine the values of transparency and convenience with respectfulness from the corporate level.” He added that by convenience, it meant that the customer wanted policies that can be bought and claimed easily, along with those that were easy to understand. For life insurance, transparency was key, with customers needing the assurance that what they saw is what they got. Clarity is vital in life insurance, he explained, as it was a long-term agreement with the firm, the customer needed to know what he would end up with, clearly, in the end. “The values within the core value of trust is what makes our new promise powerful and relevant.”
The new brand look combines sunshine orange, which represents energy, joy and happiness with gray, which expresses a concrete colour of strength and stability. “It reflects us as a company. We are easy to deal with and flexible,” says Weeraratne. The new brand also comes with a new logo. “Trust in your tomorrow, today.”
The company won the Best Insurer award in 2009 after winning the National Business Excellence award.
