Karachi: ASA Microfinance Bank (Pakistan) Ltd. and Turaco Agency Ltd. have signed a strategic partnership to introduce embedded insurance solutions for microfinance customers across Pakistan.
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The agreement aims to integrate affordable insurance directly into ASA Pakistan’s lending process, allowing borrowers to access financial protection against risks such as illness, accidents, and income loss.
According to ASA Pakistan President & CEO Naazer Minhaj, the initiative reflects the institution’s commitment to supporting customers beyond credit access. He said combining loans with insurance will help strengthen financial resilience for low-income households.
Turaco Co-Founder and CEO Ted Pantone said the partnership is part of a broader mission to expand insurance access in underserved markets, adding that the collaboration brings the company closer to its goal of insuring one billion people globally.
ASA Microfinance Bank, which operates more than 400 branches and serves over 750,000 customers nationwide, is part of the ASA International Group. Turaco focuses on delivering simple, technology-driven microinsurance solutions in emerging markets.
The partners said the initiative will help address the long-standing protection gap in Pakistan’s low-income segments, where many individuals remain uninsured despite being active borrowers. By embedding insurance into lending products, the model aims to provide a more comprehensive financial safety net.
