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SANASA INSURANCE COMPANY LTD.
   
Sanasa Insurance Company is a service support organization. Its main objective is to provide micro insurance services to Sanasa society members and clients of other organizations affiliated to the Sanasa movement, particularly the Sanasa Development Bank.



The process of formation of the Sanasa Insurance Company took place in 1989, when a NGO called 'Forum on Development' (FOD) conducted a survey to identify the more popular voluntary organizations in the area of Warakapola in the Kegalle district. It was a project designed to promote development skills of voluntary organizations.



The main findings covered in the study were how villagers were organized into voluntary organizations and how funds were built and administrated to help people in need. It was revealed in the survey that Funeral Aid Societies (FAS) were most popular and active organizations at the village level with a high degree of participation due to their need based approach of providing assistance, when there is a family calamity such as death of the breadwinner of the family or the caretaker of children and elderly persons in the family. It was further revealed, that FAS were strong with well built funds.

In the light of this information, representatives of FAS agreed to design and implement an insurance scheme of their own. The insurance scheme designed by them was named "Ahethuka Wipath Awaranaya" (risk coverage against unfortunate perils).

Benefits under this scheme included death cover and disability caused by road accidents, occupational hazards, falling from heights and trees, poisoning, fire and lighting, floods and snakes bites, which were considered as common perils faced by the poor.
 
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