Islamabad : easypaisa, Pakistan’s leading digital financial services platform has partnered with EFU Life, a top life insurance and family takaful operator, and EFU General, a premier non-life/general insurance and takaful service provider, to introduce transactional insurance.
This unique product offering, integrated within the easypaisa app, combines the benefits of both general and life insurance, addressing the pressing need for comprehensive financial protection for underserved communities and providing them with enhanced convenience and autonomy.
The introduction of transactional insurance aims to safeguard financial transactions, offering enhanced protection beyond traditional customer indemnity. In collaboration with EFU Life, easypaisa is providing accidental death benefits, ensuring complete financial security, which can be obtained through the payment of a defined amount in the event of a customer’s accidental death.
Sharing his remarks on this collaboration, Jahanzeb Khan, President & CEO, Telenor Microfinance Bank/easypaisa, said, “This landmark collaboration with EFU Life & General represents a pivotal moment for easypaisa, as we redefine the insurance landscape with innovative use cases that deliver an unparalleled customer experience. Strategic alliances with like-minded industry players are integral to easypaisa’s mission of creating a financially inclusive Pakistan. As we transition toward establishing a digital retail bank, pending regulatory approvals, these partnerships magnify the significance of developing an ecosystem that serves the diverse financial needs of millions of Pakistanis with ease and convenience.”
Sharing his thoughts, Mr. Mohammed Ali Ahmed, Managing Director & CEO, EFU Life, expressed his enthusiasm, stating, “As a prominent insurance provider on easypaisa, we are thrilled to strengthen our partnership with easypaisa. This collaboration allows us to offer top-tier insurance coverages, including transactional insurance, to their customers. Our proposition provides comprehensive protection through innovative general and life insurance available on the easypaisa app. This initiative underscores EFU Life’s commitment to digital transformation, moving from traditional manual processes to automated, high-precision systems.”
Syed Salman Rashid, Deputy Managing Director, EFU General, commented, “Our collaboration with easypaisa represents a pivotal step towards redefining financial protection in Pakistan. By offering transactional insurance through the easypaisa platform, we leverage digital technology to provide seamless and comprehensive insurance solutions. This initiative enhances the security of financial transactions and reflects EFU General’s dedication to innovation and customer-centric services. We are excited to be part of this digital transformation journey, bringing top-tier insurance services directly to the fingertips of our customers.”
With over 45 million registered users and counting, easypaisa continues to lead Pakistan’s digital financial services landscape, dedicated to fostering financial inclusion through technological innovation.
