KOKO and Ceylinco Insurance have partnered to introduce a customised medical insurance offering for KOKO customers, combining digital convenience with established healthcare protection and coverage of up to $40,000.
KOKO and Ceylinco Insurance bring customised health protection to customers
The partnership brings together KOKO, a leading buy now, pay later (BNPL) platform, and Ceylinco General Insurance to create a medical protection solution designed specifically around the financial needs and digital habits of KOKO customers. The companies describe the initiative as a first for Sri Lanka’s fintech and insurance sectors.
Rather than adapting a conventional insurance product for distribution through a digital platform, the two companies have developed a customised value package intended specifically for KOKO users. The offering focuses on accessibility, affordability and ease of activation within the digital customer journey.
The policy provides medical insurance cover of up to $40,000, offering protection against hospitalisation, treatment expenses and major medical costs. The product carries the Ceylinco Suwa Sampatha name, an established hospitalisation and surgical insurance proposition offered by Ceylinco General Insurance.
Suwa Sampatha provides access to a wide hospital network and includes direct cash settlements to hospitals, alongside reimbursement of eligible hospitalisation and surgical expenses at both private and government hospitals. Through the new partnership, these established insurance capabilities are being made available to KOKO customers through a more digitally oriented customer experience.
KOKO Regional CEO Michael Sathasivam said the partnership reflects the company’s broader approach to understanding customers’ everyday requirements and developing solutions that make their financial lives simpler. He said access to healthcare protection is an important component of financial wellbeing, while traditional insurance products can sometimes appear complex or disconnected from consumers’ daily experiences.
The introduction of the new product extends KOKO’s role beyond its core payments and BNPL services. The company has built its platform around simplifying payments and providing customers with greater purchasing flexibility, and the medical insurance partnership represents an expansion into another area of everyday financial needs.
KOKO’s existing digital reach provides a foundation for that expansion. The company has approximately three million app downloads and partnerships with thousands of merchants across Sri Lanka. Its experience engaging digitally active consumers has given KOKO insight into how customers increasingly access and manage financial services.
That consumer behaviour is also influencing the development of digital insurance products. Customers are increasingly looking for financial services that are straightforward, flexible and accessible through platforms they already use. Integrating medical protection into an established digital ecosystem can reduce some of the friction traditionally associated with accessing insurance products.
For consumers, the development comes as medical insurance in Sri Lanka continues to form an important part of financial planning, particularly as medical treatment and hospitalisation can create significant unexpected expenses. By offering healthcare protection through a familiar digital platform, the partnership aims to make insurance more accessible to a wider group of digitally engaged customers.
Ceylinco General Insurance Director Roshan Ranasinghe said changing consumer expectations were creating greater demand for convenience and flexibility when accessing financial and insurance solutions. He described the partnership as a combination of the company’s insurance expertise and KOKO’s digital convenience, with the objective of making quality protection easier to access.
Ceylinco General Insurance brings extensive experience in the local insurance sector, supported by an island-wide network and established expertise in medical protection. The company was also recognised as the People’s General Insurance Brand of the Year at the 2025 SLIM-Kantar People’s Awards for the 19th consecutive year.
The collaboration therefore combines two different areas of expertise: KOKO’s understanding of digital consumers and Ceylinco General Insurance’s experience in insurance and healthcare protection. For KOKO, the partnership adds another service to its growing customer ecosystem, while for Ceylinco General Insurance, it provides a digital route to engage consumers through a platform they already use.
The initiative also highlights the broader evolution of financial technology in Sri Lanka. Digital platforms are increasingly moving beyond individual payment functions towards broader ecosystems that provide customers with access to complementary financial services.
For KOKO and Ceylinco Insurance, the medical insurance offering represents a step in that direction. By combining insurance protection with a digital-first customer experience, the partnership seeks to address a practical consumer need while demonstrating how fintech and traditional financial services can work together to develop more accessible products.
As consumers continue to place greater value on convenience, affordability and integrated financial services, partnerships of this nature could become increasingly relevant. The new offering positions healthcare protection within a digital environment familiar to KOKO customers, while retaining the insurance expertise and established infrastructure of Ceylinco General Insurance.