Tameer Bank and Adamjee Life Assurance on Wednesday singed a contract to formalise the partnership to launch a free life insurance plan to the Easypaisa subscribers, at a local hotel. For the first time in Pakistan, Easypaisa is set to launch a free life insurance plan to its subscribers.
The innovative service will be launched in collaboration with Adamjee Life Assurance Co Ltd, which is considered one of the most prompt and efficient settlers of claims, with state-of-the-art policy issuance and claim settlement systems. To formalize the partnership, a contract signing ceremony was held at a local hotel here on Wednesday. It was attended by senior officials of Tameer Bank and Adamjee Life Assurance. Roar Bjaerum, VP Financial Services Telenor Pakistan, said: "Research has shown that if people are able to save or hold insurance then they are better equipped to handle certain events in their lives which require immediate funds.
Our insurance product is one way of achieving Easypaisa's vision of financial inclusion for everyone. The insurance cover will help provide some financial security to the family of the insured in case of any unforeseen event, thus reducing the risk of them falling on hard times."
Fredrik de Beer, CEO of Adamjee Life Assurance in his remarks said: "It is important to protect yourself, your loved ones and other family members, and insurance makes this possible for you. In a way it is a defensive measure taken before calamity strikes. Having an insurance plan is vitally important in today's world. That is why we have collaborated with Telenor Pakistan to make it within reach of the masses. Hence this collaboration would go a long way in achieving this goal as it would allow insurance penetration in the masses."
Nadeem Hussain, President & CEO Tameer Micro Finance Bank speaking at the ceremony said: "Tameer Bank works to provide accessible financial services for socio-economic empowerment. A step in this direction is our partnership, under the Easypaisa umbrella, with Adamjee Life. This will enable us to offer an insurance component to customers, thus easing their burden of paying any premium in return for secure insurance cover."
Many people are unable to avail the benefits of insurance policies due to lengthy processes and documentation requirements of insurance companies. Easypaisa aims to do away with such procedures and instead provide hassle free and simple-to-use financial services to its subscribers. The service will be launched soon.
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