Softlogic Life – Sri Lanka’s largest life insurance in terms of customer base – became the country’s first company to secure a place among the top five winners in the “Hack for Social Impact” executive challenge at the Microsoft Global Hackathon 2024. Competing amongst 73,000+ participants from 85 countries, Softlogic Life was recognized for its ground-breaking idea, ‘Gluc-Guard.’
The Microsoft Global Hackathon is a company-wide, multi-day, global event that brings employees and their select guests together to create, innovate, and hack on ideas that inspire them. It’s one of the largest private hackathons on the planet. Participants hack on ideas ranging from education and responsible AI to transportation, healthcare, diversity, and inclusion. This was the first year that Microsoft Sri Lanka hosted a Hackathon venue and the first time Softlogic Life was invited to participate and collaborate on an inspired project. Despite competing against seasoned tech innovators and pioneers in the social impact challenge, Softlogic Life’s idea emerged as a standout solution.
Commenting on yet another monumental achievement, Softlogic Life Chairman Ashok Pathirage said, “At Softlogic Life, innovation isn’t just about staying ahead—it’s about making a difference. Being ranked among the top five in this Microsoft Global Hackathon challenge is a testament to our commitment to leveraging technology for meaningful social impact. Much like everything else, our idea represents our vision of addressing pressing social challenges with cutting-edge solutions towards making a difference in people’s lives. That is why insurance penetration has never been only about achieving our revenue numbers but also about finding ways to serve those who need protection, whether through distribution, technology or product innovation. This ethos is why we stand today as the life insurer that protects the largest customer base in Sri Lanka. I am truly proud of our team that represented Softlogic Life at the competition for putting Sri Lanka on the global map and proving that this island is capable of even greater things. We excitedly await the manifestation of this concept in the near future. We are confident it will create a meaningful impact, benefiting communities in Sri Lanka and worldwide.”
To add to this achievement, Microsoft Sri Lanka is inspired by the creativity and innovation of Softlogic Life’s winning idea and is very interested in helping to move it forward. This collaboration further emphasizes the project’s significance and potential to redefine how technology addresses critical societal needs. This milestone highlights the power of innovation to create meaningful change and reinforces the importance of partnerships in driving impactful solutions.
“We have recognized Softlogic Life as one of the leaders in innovation and market disruption, both within and beyond their industry. This accolade further underscores their steadfast commitment to positively impacting healthcare in Sri Lanka through technology. This Microsoft Global Hackathon executive challenge brings together brilliant minds to develop solutions that inspire and tackle real-world issues. Softlogic Life’s project was recognized among hundreds of outstanding entries, showcasing their dedication to harnessing AI for social good. This was the first time the Global Hackathon was offered in Sri Lanka, and we are proud of the team’s efforts and the solutions they have created.” remarked Microsoft Sri Lanka and Maldives Country Manager Harsha Randeny.
Over the years, Softlogic Life has consistently set benchmarks in the industry by introducing a series of industry-first and world-class solutions. These include one-day to one-minute hospitalization claim settlement, a fully digitalized sales platform, automatic policy issuance, and innovative mobile-based micro-products. Continuing its journey to disrupt the industry with ground-breaking innovations, Softlogic Life remains steadfast in its mission to elevate the quality of life for its customers through transformative digital initiatives. The company’s most recent accomplishment—Sri Lanka’s first-ever claim settlement powered by Artificial Intelligence (AI)—is a testament to its pioneering spirit and commitment to delivering unparalleled customer convenience. By adopting cutting-edge AI technologies, Softlogic Life continues to revolutionize process efficiency, significantly enhancing operational performance, customer satisfaction and overall customer experience as the life insurer that protects the most significant number of customers in Sri Lanka.