Indika Kiriwandeniya, General Manager, SANASA

SANSASA began in 1991 as a micro-financing organization in Sri Lanka, benefitting 15% of the total population through its 8,000 societies. The organization thinks about its clients, farmers, and thinks about what are the new, innovative ways to provide agricultural insurance so that many people can benefit from the products offered at SANSASA. In 2009 with the cooperative efforts of ILO, index insurance was introduced on the Sri Lankan market, followed by negotiations with the World Bank to introduce weather index insurance. Sri Lanka relies greatly on agriculture, as it represents 10% of GDP and 16% of the population as a profession; thus mitigating risk is imperative. Educating clientele about what types of products are available, collecting data to price products affordably for clients, and understanding how the Sri Lankan agricultural sector operates culturally are challenges for the insurance industry looking to benefit citizens in Sri Lanka going forward.

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