Telenor Microfinance Bank has recently entered into an agreement with IGI Life and IGI General, marking a significant step towards the digital distribution of various insurance-based products. This collaboration aims to provide convenience and ease to millions of people in Pakistan. The signing ceremony was attended by senior management representatives from Telenor Microfinance Bank (TMB)/easypaisa, IGI General, and IGI Life. As part of the partnership with IGI Life, easypaisa users will now have the opportunity to benefit from Vitality Rewards. These rewards are based on customer activity and health status, which are monitored through the Vitality App connected to their smartwatches. Additionally, customers will also have access to natural death cover ranging from Rs500,000 to Rs2,000,000. In collaboration with IGI General, easypaisa will be introducing car and travel insurance products on its Miniapps platform. This platform offers a seamless digital journey, allowing customers to insure their vehicles or obtain travel insurance with just one tap. The insurance coverage includes accidental death, emergency evacuation, and emergency dental care. Moreover, easypaisa employees, along with their spouses and easypaisa customers, will be able to enjoy market-competitive and affordable rates for car insurance. Kashif Ahmed, the Acting President & CEO of TMB/easypaisa, expressed his thoughts on the strategic alliance with IGI Life & IGI General. He stated that this partnership reflects their commitment to enhancing the customer journey for insurance-based products. It also signifies their dedication to providing seamless convenience and an unparalleled user experience. As Telenor Microfinance Bank moves towards establishing a digital retail bank, pending regulatory approvals, these strategic alliances further emphasize their vision of becoming Pakistan’s leading digital bank. They aim to serve the diverse digital financial needs of millions of Pakistanis with ease and convenience. Ali Nadim, the CEO of IGI Life Insurance, commented on the collaboration with easypaisa, stating that it will contribute to improving financial inclusion and access to simple and affordable products. This collaboration enables a fully digital experience, making insurance products more accessible to a wider audience.
