EFU Life Assurance Limited, the leading private life insurance provider in the country, has been conferred with ‘Brands of the Year Award 2019’ for the Best Life Insurance Company by The Brands Foundation.

‘Brands of the Year Award’ is a distinctive and premier recognition for a brand recognized as a champion in its industry category based on current year market standing and consumer preference. It honors only that single brand in each category every year which dominantly led through all the levels of selection criteria.

The Company is committed to building on to the brand and providing comprehensive accessible and affordable insurance plans to meet the diverse needs of individuals through all stages of their life.

EFU Life Assurance Ltd., the leading private life insurance provider in the country, has been conferred with ‘International Environment Health & Safety Award’ in the category of ‘Responsibility for Health & Safety’ at the 6th International Environment Health & Safety Awards, organized by The Professionals Network and Ethical Business Update (EBU).

Ms. Evelyn D. Abrogena, Head of CSR Initiatives, EFU Life received the award on behalf of the Company. The award is a recognition of the Company’s contribution towards the health sector and its role towards the environment and safety.

EFU Life has been in the forefront of promoting and contributing to the safety and betterment of the environment and believes in playing a pivotal role in building a positive relationship with the society in which it operates. EFU Life has joined hands with numerous renowned non-governmental organizations for a safe and healthy Pakistan.

Karachi: EFU Life, Pakistan’s leading life insurance company, has recently expanded its strategic partnership with Tez Financial Services – a Planet-N Group Company, for Digital Insurance. Tez is one of the fastest growing FinTechs in Pakistan, offering digital nano-loans and is now activating its insurance vertical – Tez Bima. Through Tez Bima, Tez users will be able to instantly subscribe to small ticket insurance. The first product being launched by Tez is EFU Life’s Hospital Coverage Plan.

The partnership envisages making a visible social impact through financial inclusion of the masses at the lower end of the socio-economic pyramid and using technology as a key enabler for micro life, savings and health related insurance solutions. The agreement was signed in an online ceremony by Mr. Humza Hussain, Co-Founder at Tez Financial Services and Mr. Mohammed Ali Ahmed, Chief Strategy Officer & Executive Director at EFU Life. Speaking at the ceremony, Mr. Mohammed Ali expressed that “We are making strides in our financial inclusion and digital insurance strategy by offering sustainable life, savings and health solutions to the masses, and I am pleased to share that our partnership with Tez Financial Services is a significant step in that direction.” “This strategic alliance with EFU marks the beginning of an exciting new chapter in Tez’s journey. Our vision is enable access to financial services for the unbanked and under-banked Pakistanis by create a one stop financial solution. Affordable digital insurance services are an important part of that vision.” said Ms. Naureen Hyat, Co-Founder of Tez Financial Services

The product, which is now available within Tez’s android app, will provide a daily cash benefit to the life assured if an injury or illness results in hospitalization for more than 24 hours in any hospital throughout Pakistan. In addition, if the life assured is confined to the Intensive Care Unit (ICU), then an additional amount equal to 100% of the daily benefit will be paid by EFU Life. The subscription process is simple, instant and entirely paperless. Tez Financial Services application is available for download on Google Play Store.

EFU Life and Soneri Bank Limited have signed a landmark agreement for distributing life insurance products through Soneri Bank’s Digital and Alternative Channels. The digital signing ceremony was held at both organizations’ Head Office in Karachi. The agreement was signed by Mr. Taher G. Sachak, Managing Director & Chief Executive – EFU Life and Mr. Muhtashim Ashai, President & CEO- Soneri Bank Ltd. The ceremony was also attended by senior officials of both organizations.

EFU Life is a leading life insurance company in Pakistan and a key player in driving the inclusive insurance market for financial inclusion in Pakistan. As part of the largest insurance group in Pakistan, EFU Life protects millions of Pakistani’s through various insurance products.

Soneri Bank is one of the leading banks of Pakistan (within the medium sized bank category) and has an extensive distribution network with over 300 branches and ATMs nationwide. It continues to work towards the financial betterment of its customers and highly values to the patronage given by them.

Speaking at the occasion, Mr. Taher G. Sachak, Managing Director & Chief Executive Officer EFU Life, said “It gives an immense pleasure to have Soneri Bank on board as our strategic partner to launch a range of life insurance products. This partnership will provide both of us an opportunity to contribute towards the goal of financial inclusion through focused insurance solutions for various customer segments available at the entire Soneri Bank network. The penetration of life insurance is still too low i.e. 0.56% of total GDP and by launching such inclusive products, both organizations can work towards bringing large population of Pakistan in the financial safety net.”

Speaking at the occasion, Mr. Muhtashim Ashai, President & CEO of Soneri bank said “This partnership with EFU Life is important to the bank as it will bring an opportunity for Soneri Bank to provide one-window banking solutions to our customers as well as build propositions for long-term relationships with them. The bank is on its track to progress and such strategic alliances will result in innovative products and services for our customers.”

With this strategic alliance, EFU Life and Soneri Bank looks forward to serving its customers with top-of-the-line insurance products and cater to the needs and provide best financial solutions.