Transactional insurance: EFU Life & General partners with easypaisa

KARACHI: easypaisa, has partnered with EFU Life, and EFU General, to introduce transactional insurance. 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, 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.”

Copyright Business Recorder, 2024