Easypaisa Digital Bank has taken a significant step towards revolutionizing the insurance industry in Pakistan with the launch of its own digital insurance marketplace. This innovative platform aims to make insurance more accessible, affordable, and convenient for millions of Pakistanis, especially at a time when the country has seen a low insurance penetration rate of less than 1%. By leveraging technology, Easypaisa seeks to overcome the barriers that have traditionally hindered the widespread adoption of insurance products in Pakistan.
The new platform offers a wide array of coverage options for the Pakistani population, including health, life, mobile, income protection, vehicle insurance, domestic and international travel, as well as doctor consultations. These services are being offered in collaboration with leading insurance companies in the country, such as EFU Life, EFU General, IGI Life, IGI General, WEBDOC, and oladoc. The partnerships with these trusted industry players ensure that users have access to reliable and comprehensive insurance solutions tailored to their specific needs.
One of the key features of the insurance marketplace is the introduction of a one-month free subscription on all monthly plans, which makes insurance more affordable for users. In addition, the platform allows immediate consultations with over 25,000 specialist doctors via video, audio, and discounted clinic and lab visits. This integration of health services with insurance coverage offers a more holistic and convenient experience for users, addressing their healthcare needs while also ensuring financial protection.
The platform is powered by artificial intelligence, which enables a smarter, faster, and more efficient way of accessing insurance. With AI-driven functionalities, users can engage in real-time conversations, explore personalized insurance options based on their individual needs, and get their questions answered instantly. The entire process, from inquiry to transaction, can be completed seamlessly, making the experience of purchasing insurance more user-friendly and hassle-free.
Jahanzeb Khan, President & CEO of Easypaisa Digital Bank, expressed his enthusiasm about the launch, calling it a significant milestone in the company’s journey. “The launch of Easypaisa Digital Bank’s insurance marketplace is a significant milestone. Easypaisa has enabled digitized insurance-based products to increase the accessibility of insurance services to a wider segment of our society. This initiative reflects our unwavering commitment to enhance every aspect of the customer journey and provide millions with insurance services at their fingertips. This initiative symbolizes our relentless pursuit of enabling our customers with valuable services and protect them in times of need,” he said.
Farhan Hassan, Head of Wallet Business at Easypaisa Digital Bank, added that the platform would help break long-standing barriers in the insurance sector. “With its very own insurance marketplace, Easypaisa Digital Bank is breaking long-standing barriers in the insurance sector. Our goal is to simplify and improve insurance penetration, which stands at less than 1% across the country, making it more accessible and understandable for everyone. This aligns with Easypaisa’s broader vision of financial inclusion—empowering users with innovative solutions that enhance their financial security,” he said.
Easypaisa’s new digital insurance marketplace represents a major leap forward in the country’s digital banking and financial services landscape. As Pakistan’s first digital bank to begin commercial operations, Easypaisa is playing a crucial role in unlocking the potential of Pakistan’s emerging digital ecosystem. By expanding access to essential services like insurance, Easypaisa is not only helping to grow the financial sector but is also contributing to the broader goal of fostering economic development and creating sustainable pathways for growth in the country.
With insurance coverage being a critical part of financial security, especially in times of crisis, Easypaisa’s platform provides a much-needed solution for Pakistanis who may have previously been excluded from accessing such services due to geographic, financial, or informational barriers. By bringing insurance to users through a simple digital interface, Easypaisa is taking the next step in ensuring that millions of Pakistanis have access to the financial protection they need to safeguard their future.
