EFU Life and Bykea partner to offer In-Ride Takaful Protection

EFU Life and Bykea partner to offer In-Ride Takaful Protection
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.”