Softlogic Life Helps Revive Sri Lanka’s SME Sector

Sri Lanka’s fastest-growing life insurance provider Softlogic Life has swooped in to help the nation’s struggling small and medium-sized business sector! With their campaign ‘PintheBiz’, they are reaching out to you to help promote these budding enterprises!

The campaign showcases Softlogic Life’s determination to enhance the wellbeing and quality of life of all Sri Lankans by embracing and utilizing technology to create disruptive solutions.

It’s simple! All you have to do is to visit pinthebiz.lk and submit the pin location/address, shop category, shop name and a contact number of businesses of your choice and watch it boom! Another way to help out your favourite businesses is by sending an SMS with the text ‘SME’ to 1312, to receive a text message with a link to the PintheBiz website. You can even send your submissions via an SMS to 1312, with the text ‘HELP’ upon which they will be contacted via telephone by a support center representative. All entries that are submitted will be tagged by PintheBiz and mapped on Google.

This listing then becomes available to your friends and family! All they have to do is Google the phrase ‘PintheBiz shops near me’ to receive a curated list of shops in their near vicinity. The purchases you make from these small businesses create a strong sense of community as well as go a long way in supporting the livelihoods of millions of Sri Lankans. This has become more important than ever before, especially amidst the COVID-19 pandemic.

“Small businesses are at the heart of our communities and the key to millions of jobs. The COVID-19 pandemic has, unfortunately, had a crippling effect on the country’s economy, in particular SMEs. The proposition of PintheBiz is to put our best foot forward to inspire all our Sri Lankans to do what’s right and to remind them to support their local businesses at a time when they need it the most. However, while the road to recovery might belong, we are confident that by working together as one nation and accessing our limitless potential to do good, we can build a stronger and more resilient economy that benefits all individuals and families in our country,” Softlogic Life Managing Director, Iftikar Ahamed stated.

Did you know that small and medium-sized enterprises (SMEs) make up a significant part of Sri Lanka’s economy,with over one million SMEs accounting for approximately 75 percent of all businesses? These are found in all sectors of the economy and are estimated to contribute towards roughly 45 percent of the total employment in Sri Lanka!

SMEs are the backbone of the economy in terms of business potential, sustainable growth, employment, and technological innovation. It is imperative to do our utmost to support these resilient entrepreneurs to continue their operations and maintain their employees’ livelihoods. As always, Softlogic Life continues to leverage the power of technology to accelerate growth and fuel innovation in our journey towards enhancing the quality of life for all Sri Lankan’s. Therefore, the PintheBiz campaign will provide a platform for people to not only engage with us but to actively be part of this cause”, said Ahmed.

COVID-19 has left many SMEs struggling to stay afloat. While two-thirds of SMEs in the country have reported a decrease in demand for their products or services, almost three quarter has reported a decrease in sales, with companies in the agriculture, manufacturing and construction sectors hit the hardest, followed by those in the services sector.

It is now that they need your help the most. Through a unique blend of creativity and disruptive innovation, Softlogic Life is known to have led many industry-first initiatives such as one-day claims settlement, worldwide cashless hospital settlement product integrating more than 60 local hospitals, offering Life insurance via mobile through a partnership with Dialog Axiata PLC, a completely paperless digital underwriting solution, and a bundle of digital first initiatives to elevate the standards of Sri Lanka by bringing together world-class solutions that improve the experience of insurance for their customers.

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