SECP (Security and Exchange Commission of Pakistan) has given a go-ahead for a new life insurance product that is equipped with artificial intelligence and data analytics.
This unique insurance product has been launched by a renowned name in the insurance industry in collaboration with an international technology service provider, making this the first-of-its-kind insurtech product to be launched in Pakistan.
With the unit-linked product, the insurance company will be able to track the health performance of policyholders to predetermined indicators such as heart rate, cholesterol level, glucose level etc. Furthermore, it will also provide reward points to policyholders on achievement of periodic preset targets.
Moreover, policyholders can also get integrated benefits, such as credit of premium percentage into their investment accounts on achievement of certain preset targets through the tech-based insurance product.