easypaisa partners with IGI Life & IGI General to enhance insurance-based offerings

KARACHI: Telenor Microfinance Bank has signed an agreement with IGI Life and IGI General, laying the foundation for digital distribution of various insurance-based products, ensuring provision of ease and convenience to millions of Pakistanis.

The signing ceremony was attended by senior management of Telenor Microfinance Bank (TMB)/easypaisa & IGI General & IGI Life. As part of the collaboration with IGI Life, easypaisa users will be able to avail Vitality Rewards, providing weekly rewards based on customer activity and health status, monitored through the Vitality App connected to their smartwatches, along with natural death cover ranging from Rs500,000 to Rs2,000,000.

With IGI General, easypaisa will be launching car and travel insurance products with an end-to-end digital journey on its Miniapps platform, allowing customers to insure their vehicle or obtain travel insurance with one tap. The insurance covers various aspects including accidental death, emergency evacuation, and emergency dental care. For car insurance, easypaisa employees along with their spouses and easypaisa customers will be able to avail market-competitive and affordable rates.

Remarking on the strategic alliance with IGI Life & IGI General, Kashif Ahmed, Acting President & CEO, TMB/easypaisa stated, This transformative partnership underscores our unwavering dedication to elevating every facet of the customer journey for our insurance-based product offerings, symbolizing our relentless pursuit of seamless convenience and unparalleled user experience. As we transition toward establishing a digital retail bank pending regulatory approvals, these strategic alliances magnify the significance of our vision to become Pakistan leading digital bank, serving the diverse digital financial needs of millions of Pakistanis with ease and convenience.

Commenting on the collaboration with easypaisa, Ali Nadim CEO, IGI Life Insurance said, This collaboration will help improve financial inclusion and access to simple and affordable products by enabling a fully digital journey.

Faisal Khan CEO, IGI General stated, Traditionally general insurance has had a lengthy enrolment process; with this innovation, we will provide a completely digital on boarding journey for customers that will bring unmatched convenience to our customers.

With over 40 million registered mobile accounts and counting, easypaisa continues to lead Pakistan digital financial services landscape, dedicated to fostering financial inclusion through the power of collaboration and technology.

Copyright Business Recorder, 2024