As organisations navigate rapid technological change, shifting employee expectations, and increasingly competitive talent markets, resilience has become one of the defining business challenges of our time. Yet resilience is not built through systems alone. It is built through people.
At LOLC Insurance, this belief has shaped an organisational culture that places trust, transparency, and employee development at the centre of business strategy. Across LOLC Life Assurance and LOLC General Insurance, people practices are designed not simply to manage employees, but to create an environment where individuals understand their contribution, take ownership of outcomes, and grow alongside the organisation.
The results are visible. While employee turnover remains a persistent challenge across many insurance businesses, LOLC General Insurance recorded a turnover rate of 5.8% last year, while LOLC Life Assurance stood at 9.8%. More importantly, the figures reflect an organisation focused on building long-term engagement and capability rather than short-term retention.
Operating as a shared service across both companies, the HR function works as a strategic business partner embedded within the organisation. Its role extends beyond policy and administration to aligning people, performance, and culture with business goals.
As Kithsiri Gunawardena, Chairman/Principal Officer at LOLC General Insurance and Director at LOLC Life Assurance, tells Echelon, investing in people has always been fundamental to sustainable growth. “At LOLC Insurance,” he says, “we have always understood that lasting success is built from within. It is our people, their growth, capability, and commitment, that drive everything else. When organisations invest genuinely in developing and empowering employees, high performance becomes a natural outcome rather than an imposed expectation.”
Creating Ownership Through Transparency
One of the defining characteristics of the culture at LOLC Insurance is the emphasis placed on ownership.
A significant portion of company profits is distributed among eligible employees each year through a profit-sharing mechanism that directly links organisational success with employee contribution. The model is supported by a fully digital performance management system that connects company strategy to individual objectives through a transparent key performance indicator (KPI) framework.
Employees are able to assess their own performance, review supervisor evaluations, and engage in discussions where clarification is needed. Rather than treating performance management as an annual administrative exercise, the process is designed to create alignment between organisational priorities and individual goals.
This transparency is intended to strengthen trust and reinforce a sense of shared responsibility. Employees are encouraged to see themselves not simply as workers within the business, but as active contributors to its success.
Gunawardena believes this alignment creates a stronger culture of accountability and ownership. He comments, “When employees share in the success they help create, they naturally develop a deeper sense of responsibility towards the organisation. They become invested not only in their individual performance but in the broader success of the business.”
Technology also plays a role in enabling this approach. As artificial intelligence and automation continue to reshape industries worldwide, LOLC Insurance has adopted a balanced perspective. The organisation views technology as a tool for improving efficiency, productivity, and service delivery, while maintaining that meaningful customer relationships and strong organisational cultures remain fundamentally human.
Trust Before Control
Many organisations speak about trust. At LOLC Insurance, it is built into day-to-day management practices.
When challenges arise, the focus is on understanding root causes and finding solutions rather than immediately pursuing disciplinary action. Managers are encouraged to identify whether issues stem from individual performance, process gaps, or broader organisational factors before determining the most appropriate response.
The company’s open-door philosophy reinforces this approach. Employees who are unable to resolve concerns through normal reporting lines have access to multiple channels for escalation, ensuring that issues can be heard and addressed constructively.
Regular communication also plays an important role. Morning briefings, monthly town halls, and short organisational updates help maintain transparency and alignment across teams. One initiative, known internally as “3-in-1”, challenges leaders to communicate key business updates to the entire organisation using just three slides in three minutes.
Recognising that culture is shaped largely through managers, LOLC Insurance invests heavily in leadership development. Every year, managers participate in coaching and mentoring programmes designed to strengthen their ability to guide teams, address concerns, and support employee growth.
According to Chandana L. Aluthgama, Executive Director/Principal Officer at LOLC Life Assurance and Director at LOLC General Insurance, clarity is central to maintaining engagement in a growing organisation. “As we continue to grow, it is important that every employee understands not only what they are doing, but why it matters,” he says. “When organisational goals are clearly connected to individual objectives, people gain a stronger sense of purpose and direction. That alignment allows both employees and the business to succeed together with the right Person Organisation Fit.”
Developing Capability for the Long Term
The future of work depends not only on attracting talent but also on creating opportunities for people to develop and advance.
LOLC Insurance takes a long-term approach to building capability. At the centre of this effort is Guardian Sprinter, the organisation’s management trainee programme. Designed as a structured two-year development pathway, the programme allows graduates to gain exposure across multiple departments before specialising in an area aligned with their strengths and interests.
High-performing participants can progress into leadership positions considerably faster than through traditional career pathways, signalling the organisation’s commitment to recognising potential early.
Talent development begins even before graduation. Through partnerships with leading state and private universities, including the University of Colombo, University of Kelaniya, Sabaragamuwa University of Sri Lanka, and NSBM Green University, LOLC Insurance has established a pipeline that connects academic learning with practical workplace experience.
Students are provided opportunities to undertake internships, gain exposure to industry operations, and build professional skills before completing their studies. Many later transition into permanent roles, creating a mutually beneficial relationship between academia and industry.
Learning continues throughout an employee’s career. The organisation funds professional qualifications, conducts annual training-needs analyses, and supports employee-driven development initiatives through programmes such as Talking Talent, which allows individuals to identify and pursue personal career aspirations within the company.
LOLC Insurance is also developing an internal Insurance Academy, a virtual platform through which subject matter experts can share knowledge across departments. The objective is to make institutional expertise more accessible while encouraging continuous learning throughout the organisation.
Employees additionally benefit from opportunities linked to the broader LOLC Group’s international expansion, including exposure to cross-border projects and regional markets that broaden professional experience and create new career possibilities.
Standing (L–R): Wimal Dissanayake – Senior Zonal Manager, Sales at LOLC Life Assurance; Dilruwan Dassanayake – Senior Manager, Operations at LOLC Life Assurance; Yasinath Pushpavathani – Deputy Zonal Manager, Bancassurance & Partnerships at LOLC Life Assurance.
Leadership as a Cultural Multiplier
This year, both LOLC Life Assurance and LOLC General Insurance received company-level recognition at the Great Manager Awards organised by the Colombo Leadership Academy, with LOLC General Insurance securing the award for the second consecutive year.
While the awards recognise individual leadership excellence, the organisation views them as indicators of a broader culture that prioritises leadership development.
For Suranga Wewegedara, Head of HR at LOLC Insurance, strong managers are the outcome of sustained organisational investment rather than isolated individual achievement. He states, “Great managers do not emerge by accident. They are developed through consistent investment, meaningful opportunities, and a culture that encourages leadership at every level. Recognition is encouraging, but the greatest value comes from understanding how we can continue strengthening our people and our organisation.”
Why Employee Experience Matters to Customers
At LOLC Insurance, the relationship between employee experience and customer experience is viewed as inseparable.
The underlying belief is straightforward: employees who feel valued, supported, and engaged are better positioned to deliver meaningful service to customers.
This philosophy is reflected through structured incentive systems, clearly defined operating procedures, and recognition programmes that celebrate exceptional service and team performance.
The organisation is also strengthening its ability to measure customer loyalty and satisfaction across multiple touchpoints. Beyond generating overall scores, the goal is to identify specific areas of excellence and opportunities for improvement, allowing customer feedback to inform future development efforts.
By applying the same principles of transparency, accountability, and continuous improvement to customer interactions, LOLC Insurance aims to strengthen both service quality and long-term loyalty.
The Next Chapter
Despite the progress made, the organisation remains focused on areas where further improvement is needed.
Increasing female representation within General Insurance is a current priority, with management working towards a target of 30% representation. The objective has been formally incorporated into performance expectations for both managers and HR teams.
Employee engagement surveys have also highlighted opportunities to strengthen ownership and initiative among non-managerial employees. In response, LOLC Insurance introduced the Process Enhancement Challenge, a quarterly initiative that encourages cross-functional teams to identify and propose improvements to organisational processes.
Even smaller initiatives are designed with culture in mind. Every Monday morning, HR and training teams conduct brief engagement sessions across departments aimed at creating energy and connection at the start of the week. Known internally as Boosting Monday, the programme reflects the belief that culture is not built through occasional events but through consistent everyday experiences.
Ultimately, LOLC Insurance sees resilience not as a destination but as an ongoing process. By investing in trust, capability, leadership, and employee ownership, the organisation is building a culture designed not only to respond to change but to thrive within it.
As the future of work continues to evolve, that commitment to people may prove to be one of its most valuable competitive advantages.