EFU Life Assurance Limited, leading life insurance provider in the country, has been honored with ‘Certificate of Merit’ for Best Presented Annual Report 2019 in the category of ‘Insurance Sector’ by South Asian Federation of Accountants (SAFA). The awards ceremony was recently held Colombo, Sri Lanka on 23rd December, 2020. The awards were conferred on the basis of improvement in transparency, accountability & governance pertaining to annual reports of organizations from South Asian countries. Mr. Abbas Hussain, Company Secretary, EFU Life Assurance Ltd. received the award on behalf of the Company.
SAFA was formed in the year 1984 to serve the accountancy profession in the South Asian Region and uphold its eminence in the world of accountancy. SAFA as an IFAC network Partner represents over 3,75,000 accountants having membership of the national chartered accountancy and cost and management accountancy institutions in the South Asian countries namely Bangladesh, India, Maldives, Nepal, Pakistan and Sri Lanka, Afghanistan.
Earlier this year, the organization’s Annual Report of 2019, ‘The Art of Evolution’ received the Best Corporate Report (BCR) Award in the Insurance category by Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost & Management Accountants of Pakistan (ICMAP).
EFU Life Assurance Ltd. Annual Report 2019, ‘The Art of Evolution’ ranked 2nd in the Best Corporate Report (BCR) Award 2019 in the Insurance Category including Life, Non-life and Takaful Companies.
This is the 8th consecutive year, the Company has been recognized in the BCR Awards for best presented accounts, with focus on transparency, accountability and governance.
The ranking is declared by a joint Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost & Management Accountants of Pakistan (ICMAP).
EFU Life’s Annual Report 2019 can be accessed on Company’s website www.efulife.com under ‘Investor Relations’.
EFU Life Assurance Ltd, Pakistan’s leading life insurance company, has won the ‘Best Insurance Tech of the Year’ award for its BLISS – a biometrically enabled, entirely digital, instant savings-cum-protection policy acquisition system. This is the third consecutive year that EFU Life has been recognized by Pakistan Digi Awards for its revolutionary and innovative approach towards better services. On behalf of EFU Life, the award was received by Ashfaque Ahmed, General Manager Technology and Naseer Ahmed, AGM and Head of ADMD.
‘BLISS’ is a revolutionary innovation for digitalization of insurance industry around the world. It allows a life insurance savings-cum-protection contract to be validated and created using biometric thumb-impression, which is verified instantaneously using biometric verification services offered by the Government of Pakistan’s National Database &Registration Authority (NADRA). The system offers a fully digital, paperless experience. No physical or digital signatures on the app or paper, no hassles of paper forms, no physical copies of underwriting documents required, ever!
Pakistan Digi Awards is a distinctive award that recognizes the efforts by companies and digital agencies for creating a significant impact on businesses and lives of individuals through innovative ideas and creativity.
Bank Alfalah, one of the leading banks of Pakistan has partnered with EFU Life Assurance Ltd., a leading life insurance company in the country to launch “Alfalah Mehfooz Mustaqbil Plan”, which is especially designed for the Alfalah consumer banking customers.
The signing ceremony took place at Bank Alfalah Consumer Head Office in Lahore, Pakistan, and present at the event were Head of Consumer Finance – Syed Muhammad Asif, Head of Business Development – Rafia Shafqat and Head of Cards – Zubair Asif representing Bank Alfalah. From EFU Life, present at the event were, Mohammed Ali Ahmed – ED & Chief Strategy Officer, Ali Zaidi- ED Group Benefits and Nilofer Sohail –Head Channel Strategy & Execution.
Alfalah Mehfooz Mustaqbil is an income continuation plan where in case of death or accidental permanent total disability of the Alfalah credit card holder, a fixed monthly income of up to PKR 100,000 will be provided to the beneficiaries for a period of one year.
Sharing the thoughts on the occasion, Syed Muhammad Asif from Bank Alfalah stated, “we have always looked forward towards the betterment and enriching our customer lives. Keeping up the aim, we are providing life protection solution to our credit card customers and to their families where in case of any misfortunate incident, the family of the card holder remain protected in the difficult times.” EFU Life, a pioneer in Pakistan’s insurance industry, will serve as the perfect partner for this plan.” Sharing his thoughts Mr. Mohammed Ali Ahmed from EFU Life added, “We are pleased to enhance our relationship with Bank Alfalah through the addition of an Income Continuation product in the portfolio. This is a highly relevant product, especially in the current times, in the context of financial planning for Bank Alfalah customers. Nothing can fill the void created by the loss of a loved one but the financial crisis can be mitigated through Mehfooz Mustaqbil Plan so that the family can continue to live their lives with dignity and honor.”
With both the organizations sharing the mutual aim for enriching the lives of masses and protecting the vulnerable from life and health risks, this strategic partnership between Bank Alfalah and EFU Life will open new doors of innovations and may contribute in reshaping the society for opting good financial planning and mitigating the associated risks.
EFU Life, leading life insurance company has partnered with 1LINK, Pakistan’s first fully licensed PSO/PSP to provide unparalleled value addition for PayPak cardholders through life insurance coverage for conventional account holders.
PayPak, Pakistan’s first domestic payment scheme has introduced a comprehensive loyalty program whereby all new and existing cardholders can benefit from a life coverage of PKR 100,000 in case of death (all causes). Additionally, under this program, PayPak cardholders can avail deals and discounts at 12,500+ merchants nationwide.
The signing ceremony was held at EFU Life’s head office in Karachi, Pakistan. The Agreement was signed by Mr. Taher G. Sachak – MD & CEO EFU Life and Mr. Najeeb Agrawalla – CEO 1LINK.
Mr. Taher G. Sachak stated in the event that, “EFU Life has been a catalyst for mitigating life and health risks for almost 3 decades by introducing innovative financial planning products which are designed around the needs of the various market segments. We have always remained committed to our promises and believe in continuous innovation towards the ever-changing digital landscape and customer’s needs. We congratulate 1LINK on the launch of their loyalty program and aim to add our share in the form of the insurance protection feature.”
Mr. Najeeb Agrawalla also added, “PayPak has achieved tremendous growth in a short span of time and with this partnership, we aim to further enhance the PayPak card proposition, by bringing added value for PayPak cardholders, and make PayPak the card of choice. Through PayPak Loyalty Program, we are confident that customers will reap more benefits compared to any other card scheme in Pakistan”.
This strategic partnership between the two companies will be an inclusive solution pack for Bank’s/Issuers customers by combining the expertise of both organizations into one and will open the doors to new innovations and more tailor-made solutions for next era.
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.
EFU Life Assurance Limited, the leading life insurance provider in the country, has been awarded ‘Gold’ at Effie Awards Pakistan in the category of ‘Branded Content’ for Humrahi, a digital web-series.
This category recognizes brands for efforts to effectively reach its target audience through the creation of original branded content and how it relates back to the overall brand and business goals; how effective the brand was in media planning and distribution, and how the content was shared by the audience and the results achieved for the brand and business. ‘Branded Content’ category is contested across all industries and is not limited to a specific marketing medium.
EFU Life launched ‘Humrahi’ on Digital, with a targeted approach to reaching its audience. The objective being to change the perception of life insurance among millennials, and to position it as a smart choice for youngsters who are planning their future.
The Effie Awards were launched in 1968 by the New York American Marketing Association as an awards program to honor the most effective advertising efforts. Effie Pakistan is a not-for-profit initiative between Pakistan Advertisers Society and Effie Worldwide. The annual award is presented to recognize the most significant achievement in marketing communications: ideas that work.
EFU Life had partnered with Mullen Lowe Pakistan for Creatives and Mediavest Pakistan for media strategy and execution.
Previously, Humrahi web-series was recognized internationally, with the Company being conferred multiple awards at ’Dragons of Asia’ ceremony and ‘MAA Globes 2019’.