EFU Life Assurance Ltd., the leading private life insurance provider in the country, has been conferred with ‘CSR Award 2024’ in the category of ‘Social Impact’ at the 13th Annual Corporate Social Responsibility Summit & Awards, organized by The Professionals Network and Ethical Business Update (EBU). The award is the first and only registered CSR Award of Pakistan registered with IPO Government of Pakistan.

Mr. Jalal H. Curmally, Deputy General Manager Human Resources, EFU Life Assurance Ltd., received the award on behalf of the Company. The award recognizes Company’s efforts towards social development and sustainability initiatives in the country.

EFU Life has been in the forefront of promoting and contributing to the causes of healthcare, education and 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 better and prosperous Pakistan.

Another Step Towards Financial Inclusion: EFU Life and Jazz debut Takaful in Hifazat Program

ISLAMABAD, February 22, 2024: Jazz, Pakistan’s leading digital operator, has collaborated with EFU Life Assurance Ltd., the nation’s leading insurance company, to introduce the industry’s first Takaful (Shariah Complaint) offering for its subscribers.

Through this collaboration, Jazz subscribers can opt for low-cost Takaful products with unique benefits including health wallet, cancer protection, and coverage for female major medical illnesses. In addition, the customer’s entire family will be able to utilize virtual healthcare benefits.

Sharing his thoughts on the development, Kazim Mujtaba, Chief Commercial Officer at Jazz, said, “We are excited to partner with EFU Life to include a full suite of industry’s first Shariah Complaint products within a single program. Looking ahead, our goal is to further enrich this initiative by introducing additional products tailored to meet the diverse needs of our valued customers, especially those who need protection and support the most.”

Also speaking about this development, Mohammed Ali Ahmed, CEO & MD, EFU Life, said, “EFU Life remains steadfast in its commitment to advancing financial inclusion initiatives that make a tangible difference in the lives of millions. Our collaboration with Jazz represents a pivotal stride in this journey, aligning with our shared vision to empower individuals and communities through accessible and impactful financial solutions.”.

Aamir Khan, Commissioner Insurance, Securities and Exchange Commission of Pakistan (SECP), congratulated Jazz and EFU Life Pakistan for their initiative. He highlighted the significance of introducing Takaful Products through the telco segment, emphasizing that this innovative approach aligns well with the mass market’s higher acceptance of Takaful. Mr. Khan expressed SECP’s full support for the insurance industry’s digital and inclusive insurance initiatives.

The collaboration aims to increase the country’s insurance penetration and raise awareness of the benefits associated with education and health insurance. The program also seeks to create a visible social impact through financial inclusion and is in line with the Government’s National Financial Inclusion Strategy.

The new Takaful offering is an extension of Jazz’s ongoing engagement with EFU Life which began with the launch of the ‘Hifazat Program’ in 2021. The Takaful program offers various plans serving the varying takaful needs of customers, with payments seamlessly deducted on a daily basis from the customer’s airtime balance, ensuring a hassle-free process.

Karachi: Mindshare has partnered with EFU Life, a leading life insurance and family takaful provider, to drive the brand’s digital marketing strategy. This collaboration aims to introduce a data-driven media approach that communicates the benefits and importance of life insurance and financial well-being.

Mr. Mohammed Ali Ahmed, CEO & MD EFU Life, expressing his thoughts on the partnership said, ‘Leveraging on all digital channels for engaging with potential and existing customers, and tapping into new segments is a key part of EFU Life’s strategy. With this partnership, our goal is to leverage the media expertise of Mindshare to curate effective communication and use data to enhance the impact of our outreach.”

Amna Khatib Paracha, CDO of GroupM & MD of Mindshare, added, ‘At GroupM, we believe in bringing data upfront into our strategies and tailoring the communication based on the needs of businesses and audiences. With EFU’s market approach and Mindshare’s media expertise, we aim to elevate the online presence of the insurance industry.”

Mindshare operates as an agency under the umbrella of GroupM Pakistan, renowned for its digital and media services provided to businesses across Pakistan. GroupM Pakistan serves as a regional entity of GroupM Global, operational in regions including Asia, Australia, the Middle East, and Europe.

EFU Life Assurance Limited, leading life insurance provider in the country, has been honored with ‘Certificate of Merit’ for Best Presented Annual Report 2022 in the category of ‘Life Insurance’ by South Asian Federation of Accountants (SAFA). The awards ceremony was recently held in Kaushambi, U.P., India on 22nd December 2023.

The awards were conferred on the basis of Improvement in Transparency, Accountability & Governance pertaining to annual reports of organizations from South Asian countries.

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, Sri Lanka, and Afghanistan.

EFU Life Assurance Limited, the leading private life insurance provider in the country, has been conferred with ‘Brand of the Year Award 2022’ for the Best Life Insurance Company by The Brands Foundation. The Company has been awarded this title 11 times. The award was received by Mr. Mohammed Ali Ahmed – Managing Director & Chief Executive Officer, EFU Life.

The ‘Brand of the Year Award’ is a distinctive and premier recognition for the brand recognized as a champion in the industry on current market position and consumer preference. It honors a single brand in each category every year which has excelled across all selection criteria.

The Company is committed to building the brand and is actively working towards increasing the insurance penetration in Pakistan, in line with its vision of ‘no household should remain uninsured’, by offering comprehensive and affordable financial planning solutions.

Karachi/Pakistan and Zurich/Switzerland – May 16, 2023 – EFU Life Assurance Ltd, Pakistan’s leading private life insurance Company has partnered with dacadoo, a Switzerland based Company and one of the world’s leading healthtechs and insurtechs to launch its digital health and wellness program.

EFU Life’s selection of dacadoo was the result of a rigorous evaluation process of several global digital health and wellness technology providers. dacadoo ranked highly on user-friendly design, secure handling of sensitive data, and its ability to scale its solution to meet changing user needs. A combination of these factors further validated the trust many global insurers have placed in dacadoo and made it a clear choice for EFU Life.

dacadoo specializes in supporting the digital transformation of its customers, including EFU Life through digital health engagement platforms, and its technology is built on over 300 million person-years of scientific data. dacadoo has partnered with large life and health insurance carriers all across the world and is driving the digital revolution in the health and wellness industry. The award-winning technology platform aggregates principles from seven different areas, including measuring physical and mental health, resulting in an overall health score. dacadoo’s platform is backed by stringent security measures to protect personal and health data.

Mr. Taher G Sachak, MD & CEO, EFU Life speaking on the occasion said, “We are pleased to have found a strong technology partner in dacadoo for our Wellness Program. Pakistan’s 230 million population with 60% under 30 years, presents a significant opportunity for us in the health and wellness space. By leveraging dacadoo’s expertise in these areas, we are confident of delivering an exceptional experience to our customers and help them achieve not only their financial goals but also improve their quality of life in their wellness journey, ensuring their physical and mental well-being.”

Peter Ohnemus, President and CEO of dacadoo added: “We are delighted to enter this partnership with EFU Life, our first client in Pakistan, and we’re proud to provide our technology to work around the clock to make their digital health engagement platform a success among clients. In close collaboration with EFU Life, we are introducing exciting new features in our core platform that will enhance the wellness experience of clients. We look forward to a great continuation of this successful partnership.”

About EFU Life Assurance Ltd.:
EFU Life is a leading private sector life insurance Company of Pakistan offering financial planning solutions under conventional insurance and takaful lines of business. The Company started operations in 1992 as the first private sector life insurance Company in Pakistan. Over a span of 30 years EFU Life has established itself as a significant player in the life insurance landscape of the country. EFU Life offers a comprehensive range of retail products targeting low-income persons up to high-net-worth individuals. In addition, tailor made solutions are offered to the corporate sector

through group life schemes. The Company has a widespread distribution network with branches in all parts of the Country as well as partnerships with all major banks, digital platforms, insurtechs, microfinance banks and lending institutions. EFU Life has an insurance financial strength rating of AA++ by VIS Credit Rating Company and is also ISO 9001 certified.

About dacadoo:
dacadoo is a Swiss-based tech Company that develops technology solutions for digital health engagement and health risk quantification. Our Enterprise SaaS based digital health engagement platform (DHEP) is a mobile-first solution that leverages behavioural science, artificial intelligence, and gamification to help end-users improve their health outcomes while helping clients from many industry segments improve customer engagement and loyalty through personalization. This platform is available in over 18 languages and can be licensed as a white label offering or through APIs to develop/enhance custom solutions. Our award-winning Health Score and Risk Engine are also available for license through APIs. dacadoo’s 85 global employees are committed to making the world a healthier place. We strongly value security and privacy, with an Information Security and Privacy Management System certified to ISO 27001 and ISO 27701 standards.

Karachi:EFU Life Assurance Limited, leading private sector life insurance provider in Pakistan, has been recognized in the ‘Top 25 Companies for the Year 2021’. This is the third time that EFU Life has been conferred with this award. The Companies recognized have outperformed others in the spheres of corporate governance, financial performance and have added to shareholder value.

Every year, the Pakistan Stock Exchange announces the names of the twenty-five (25) leading, publicly traded companies based on specific quantitative criteria such as profitability ratios, liquidity ratio, turnover of shares and corporate governance, to name a few of the factors against which the companies are selected.

The objective of PSX Top 25 Companies Awards is not only to reward and recognize the listed companies meeting criteria of excellent performance, but also to set an example and benchmark for other listed companies to follow.

The PSX Top 25 Companies Awards is a touchstone for all companies to follow and achieve. The listed companies who win these awards are not only amongst the best performing companies in Pakistan but are also comparable to the best performing companies internationally.

Karachi: EFU Life Assurance Limited, leading private sector life insurance provider in Pakistan, has been honored with the prestigious ‘Consumers Demand Award 2022’ for Best Life Insurance Company at the 16th Consumers Choice Award 2021-22. Mr. Zain Ibrahim, Senior Executive Director and Chief Operations Officer, EFU Life received the award on behalf of the Company from Mr. Asadullah Larik, Additional Collector –Customs Pakistan and Guest of Honor for the event.

This is the 13th consecutive year that EFU Life has been conferred with Consumers Choice Award. The award reflects the company’s customer – centric approach, innovative products catering to the evolving needs of customers and the latest practices it adopts for providing superior services.

Consumers Association of Pakistan is a non-government, non-profit organization set up in 2000 to protect and educate consumers. It aims to safeguard the interest of consumers while ensuring that their needs are given a higher priority.

Roshan Digital Account is a major initiative of the State Bank of Pakistan, which provides banking solutions for non-resident Pakistanis, and resident Pakistanis with declared assets held abroad. BOP is the first bank in the industry to offer both conventional and Islamic variants of this product for customers to open and operate digitally. In addition to other banking services, RDA customers can make investments in Pakistan, and avail house loan and auto loans.

To enhance lifestyle offerings for RDA customers, EFU Life and BOP have taken the initiative and signed a unique insurance solution for RDA customers and their loved ones. Customers can opt for insurance/Takaful plans according to their needs, enabling them to mitigate financial risks associated with unfortunate events of death, accidental death, and permanent total disability. In addition, the health risks of customers’ family members (spouse and kids) residing in Pakistan are also being taken care of. The entire family can also avail a virtual health care benefit, an essential addition in these Covid times.

A ceremony to mark this event was held at EFU Head Office Karachi which was attended by Mr. Zahid Mustafa, Group Chief Consumer & Digital Banking-BOP, Mr. Mohammad Ali Ahmed, Deputy Managing Director – EFUL Life, Mr. Nofel Daud, Group Head Retail Banking-BOP, Ms. Nilofer Sohail, AGM and Head of Channel Strategy and Execution and other senior officials from both organizations were also present at the event.

Speaking on occasion, Mr. Mohammad Ali Ahmed, DMD EFU Life, said “We congratulate BOP for launching this initiative. With the launch of these technology-based insurance solutions, BOP will be able to serve RDA customers more effectively. This will further augment the RDA proposition of the bank.” Group Chief C & DB Mr. Zahid Mustafa reaffirmed bank’s vision and said, “BOP, is one of the fastest-growing banks in the industry with a vast network of 661 branches all over the country and a reach of close to 2 million customer base. Identifying and catering to the needs of overseas Pakistanis under the RDA banner remains a primary objective of BOP”.

Bykea, Pakistan’s popular superapp for mobility, commerce, and payments, has partnered with the country’s leading life insurance company EFU Life Assurance Ltd., to offer In-Ride Takaful Protection to the customers and driver-partners of Bykea.

Through this partnership, Bykea expands the safety blanket for its driver-partners and customers through Takaful to offer hospitalization and life protection. The customers and driver-partners are covered through a unique and innovative Takaful partnership with EFU Life.

The customers and driver-partners can now opt for an optional Takaful-coverage feature with a nominal charge and get coverage during Bykea rides. The customers and driver-partners, through this option, will be protected in case of any misfortune due to a road incident to cover for hospitalization or demise. In case of road injury, the customer and driver-partner will be secured for hospitalization or healthcare expenses up to PKR 25,000. In case of an unfortunate fatality, the family of the affected customer or driver-partner will be offered PKR 500,000 to facilitate them through the immediate difficult times.

Rafiq Malik, Chief Operating Officer at Bykea, mentioned that “Bykea has always been conscious of the safety of its driver-partners and customers and is deliberately working towards safeguarding their valuable lives. Now, our customers and driver-partners can opt-in for Takaful during the rides with nominal charges. Through this Takaful feature, we are restating our mission to make bike rides safer for everyone using Bykea.”
Mohammad Ali Ahmed, Deputy Managing Director at EFU Life Assurance, expressed that “EFU Life, as part of its long-term strategy, continues to focus on financial inclusion propositions creating a positive impact in the lives of millions. Our Partnership with Bykea is yet another step where takaful coverage is embedded seamlessly in the digital journey to provide convenience to the riders and customers to activate their takaful cover which can be instrumental in the moment of need.”