KARACHI – HBL, Jubilee Life, Jubilee General and MicroEnsure entered into a memorandum of understanding to provide various innovative insurance products and solutions to the HBL’s branchless banking clients.
Present at the occasion were Mr. FaiqSadiq, Head – Payment Services HBL, Mr. Javed Ahmed, MD & CEO – Jubilee Life, Mr. Tahir Ahmed, MD & CEO – Jubilee General, Mr. Rehan Butt, Country Manager – MicroEnsure Pakistan and other senior officials.
This collaboration, perceived by industry experts as one of its kind in the history of Pakistan, will provide innovative life, health and assets insurance to the hugely uninsured mass market of the country through HBL Express platform, using product innovation and strong underwriting capacity of Jubilee Life and Jubilee General along with operational support of MicroEnsure.
Speaking at the occasion, Mr. FaiqSadiqsaid that HBL is closely studying this market segment and has a keen interest in making various mass market insurance products available through such partnerships.Mr. Javed Ahmed said that Jubilee Life, the microinsurance leader in Pakistan, is fully committed towards serving this segment and is ahead of others in terms of exploring new products. Mr. Tahir Ahmed elaborated on Jubilee General’s focus is on technology and is excited to expandinsurance services to the untapped masses through this initiative. Mr. RehanButt added that this partnership will provide safety net to millions of Pakistanis through simple products andeasy processesand is a big leap towards making insurance every household’s affair in the country.