Writing a new page in the history, Softlogic Life, Sri Lanka’s largest life insurance company with the largest customer base, became the first country to be among the top five winners of the world’s largest private hackathon, “Microsoft Global Hackathon 2024”. Competing among 70,000 participants from 85 countries, Softlogic Life received this recognition for its earth-friendly idea called ‘Gluke-Guard’ in the social impact space.
Microsoft Global Hackathon 2024, hosted by its Chief Technology Officer Kevin Scott, is the world’s largest annual private hackathon and attracts some of the world’s most renowned organizations, including tech giants, multinationals, startups, and industry disruptors. These companies leverage their expertise in areas such as artificial intelligence, data analytics, blockchain, and software development to create, innovate, and hack ideas in a variety of fields, from education and responsible AI to transportation, healthcare, and diversity and inclusion. Despite competing against seasoned tech innovators and pioneers in the social impact space, Softlogic Life’s idea emerged as a standout solution.
Commenting on another huge achievement, Ashok Pathirage, Chairman, Softlogic Life, said, “Innovation at Softlogic Life is not just about moving forward – it’s about making a difference. Being ranked among the top five in the 2024 Microsoft Global Hackathon is a testament to our commitment to harnessing technology for meaningful social impact. Like everything else we do, our idea represents our vision of addressing pressing social challenges with cutting-edge solutions to make a difference in people’s lives. Therefore, for us, insurance penetration is never just about achieving our revenue numbers, but also finding ways to serve those in need through distribution, technology or product innovation. It is because of these qualities that we are where we are today as a life insurance company protecting the largest customer base in Sri Lanka. I am truly proud of our team who represented Softlogic Life in the competition to put Sri Lanka on the global map and prove that this island can do great things. We look forward to launching this concept in the near future and believe it will have a meaningful impact, benefiting communities in Sri Lanka and around the world.
In addition to this milestone, Microsoft Sri Lanka has extended its support by providing the necessary resources to bring Softlogic Life’s winning idea to life. This collaboration further emphasizes the importance of the project and its potential to redefine how technology meets critical social needs. This milestone highlights the power of innovation to create meaningful change and reinforces the importance of partnerships in delivering impactful solutions.
“We have always seen Softlogic Life lead the way in innovation and market disruption within and outside their industry. This recognition is further testament to their unwavering commitment to creating a positive healthcare impact in Sri Lanka through technology. “The Microsoft Global Hackathon brings together brilliant minds to create solutions that inspire and address real-world challenges. The Softlogic Life project stood out, highlighting their commitment to harnessing AI for social impact. This was the first time the Global Hackathon was open to Sri Lanka, and we are incredibly proud of the team’s efforts and the innovative solutions developed by the company. The company will build on this momentum and look forward to even greater achievements in the future. Our heartfelt congratulations on this exceptional achievement, as we look forward to funding this project and working with Softlogic Life to bring this socially impactful idea to life,” said Harsha Randeni, Country Manager for Microsoft Sri Lanka and Maldives.
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 daily hospitalization claims settlement, a fully digitalized sales platform, automated policy issuance and innovative mobile-based micro-products. Continuing its journey of driving the industry forward with innovation, Softlogic Life is steadfast in its mission to enhance the quality of life of its customers through transformative digital initiatives. Sri Lanka’s first-ever Artificial Intelligence (AI)-powered claims settlement is the company’s latest achievement, demonstrating its pioneering spirit and commitment to providing unparalleled customer convenience. Leveraging cutting-edge AI technologies, Softlogic Life is revolutionizing process efficiency, significantly improving operational performance.
