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AIA Insurance

  • 1,000 - 50,000 employees

AIA Insurance Graduate Programs & Internships

  • Banking & Financial Services

What it does: Life insurance and wealth planning.

Best known for: AIA Insurance is best known for offering retirement plans.

Staff stats: Around 3500 employees located in 120 offices across Sri Lanka

The good bits: Excellent training and career prospects. Top performers are rewarded with special training to achieve Million Dollar Round Table (MDRT) membership.

The not so good bits: Highly competitive environment with employees having to compete with not only peers but also wealth planners who work from home independently.

The AIA Insurance Story

AIA launched its Sri Lanka operations in 2012 by acquiring the already existing Aviva NDB from British insurer Aviva and National Development Bank of Sri Lanka. To focus on life insurance, AIA sold its non-life insurance component to Janashakthi Insurance PLC. It also pioneered bancassurance (insurance) in the country by agreeing to a 20-year bancassurance deal with NDB. They were quick to spot the long gap between retirement and death in Sri Lanka and introduced many plans that cater to different retirement needs. 

In a span of 7 years, AIA Insurance grew to become one of the leading life insurance providers in Sri Lanka with over 3500 employees spread out across 120 branches throughout the island and with an annual revenue exceeding Rs.18 billion. Over the last two years, AIA Insurance produced the most number of Million Dollar Round Table members from Sri Lanka – MDRT membership is awarded to financial professionals who demonstrate exceptional levels of knowledge, service and ethical conduct.

The recruitment process

AIA hires sales executives all through the year. Candidates must be aged between 22 and 30. Degree holders and people with professional qualifications related to marketing, management, finance have a better chance of getting through the recruitment process. Interested candidates can apply online. AIA usually gets in touch with the candidate within a week. If selected, you will have your first interview in the branch nearest to you.

AIA Insurance also advertises other positions in national newspapers and on their Facebook page. If you’re looking to work for AIA as someone other than a sales executive, following them on Facebook is a good option.

Career prospects

After the initial training, there are two career paths available to you. You can choose the management path where you’ll be initially handling a small team. Based on your performance you will be promoted to handle a cluster, division, region etc. The top performers can expect further training and support to achieve the coveted MDRT membership.

The other career path has much more flexibility and is based on sales targets. This path doesn’t involve managing people, instead, it is purely focused on bringing in sales. This path offers more flexibility and you have the opportunity of working from home with only occasional visits to the branches.

Remuneration

A sales executive can expect a basic salary of Rs. 30,000 + EPF deductible allowance + commission. The average income for a sales executive exceeds Rs. 100,000 with top performers earning over Rs. 150,000. After that, the salary, allowances and commissions depend on the career path you choose.

Individual wealth planners who hit a target of 5 million in sales can expect a basic salary of Rs. 45,000 + allowances + sales commission. You can expect an increase in basic salary when you hit 8 million and 10 million sales targets. Once you hit certain sales targets new allowances are also unlocked.

The culture

AIA Insurance is known for its performance-driven culture. Promotions and remuneration are heavily tied to performance which leads to a competitive environment where the best can quickly climb the ladder. There is a heavy focus on employee development which has lead to a driven, loyal workforce that has helped AIA Insurance to rank second place in Best Workplaces in Sri Lanka for the last 5 years.

In 2019 it was recognised as one of the best workplaces for women in Sri Lanka. It was one of the first companies to actively encourage the participation of women in the workforce and has one of the most comprehensive maternal benefit schemes in the country, leading to higher recruitment and retention of its female workforce.

Social contribution

AIA heavily contributes to various social causes that are directly tied to their business. One of the most visible programs is the Poson Safety Program where they sponsor the patrolling of  dangerous reservoirs during the pilgrimage season near Anuradhapura, Sri Lanka. It was awarded one of the top 5 sustainability projects in 2015.

They contribute heavily to the education sector. Students who perform well in the year 5 government scholarship exam are given AIA scholarships through which they receive a monthly payment until they enter university. AIA has contributed to the rebuilding of the North and East by contributing fully furnished classrooms to various schools in those districts.

AIA donates towards foundations and organisations which promote health and has also initiated programs of its own which aim to improve health. AIA Vitality rewards individuals for activities like walking and their #OneMoreHour initiative promotes healthy sleep. AIA also organises walks to support charities such as the Sri Lanka Heart Foundation.

The vibe of the place

At AIA you’ll be surrounded by ambitious and hard-working individuals in a very competitive environment. Their performance-driven culture encourages healthy competition.

Jobs & Opportunities

Locations With Jobs & Opportunities
  • Sri Lanka
Hiring candidates with qualifications in
B
Business & Management
E
Engineering & Mathematics
I
IT & Computer Science
C
Creative Arts