ECONOMYEXT – Sri Lanka is launching a digital insurance card, in place of the current plastic one, with the aim of bringing 2.8 million vehicles without any insurance into the system, the Insurance Regulatory Commission of Sri Lanka chief said.
“Sri Lanka has 8.8 million vehicles registered with RMV but only about 6 million are insured,” Ajith Raveendra De Mel, Chairman of the Insurance Regulatory Commission of Sri Lanka told reporters.
“There’s 2.8 million that are uninsured.”
These were either vehicles that were not considered roadworthy, vehicles seized by leasing companies, and vehicles belonging to state institutions, he said.
“Several state-owned institutions run vehicles without insurance.”
Anyone registering a vehicle will now be sent a link with a QR code, he said, with the Police equipped with a digital system to verify the new digital card.
“The Insurance Regulatory Commission and all 14 GI companies decided on the new digital card, which is being introduced from May 1.”
Another advantage of the digital card is that its information is updated in real time, as opposed to the plastic card, which may have obsolete data, he said.
“We give 60 days for payment to be made, and if it hasn’t been made, the police cannot see this with a plastic card. This was a discipline issue with people using a card that was not valid. This meant a large amount of money due to the industry was not coming in.”
There was an advantage to the consumer too he said, as in some cases when even after payment is made and insurance companies have not received it, if the vehicle met with an accident insurance companies refusing to pay on the basis that payment was not made.
Policy holders can now check if their policy is active.
The digital card will also help cutdown plastic waste, he pointed out, in addition to cutting cost of producing 6 million cards annually.
An Insurance Crib, or a national motor vehicle insurance database has also been created, he said. (Colombo/May25/2026)