EFU Life Assurance Ltd. and Oraan have joined hands for financial inclusion, awareness and inclusive insurance solutions via digital channel. As the leading life insurance company of Pakistan, EFU Life has a strategic focus on creating partnerships that enable access to formal financial services so that a larger segment of our population can avail its benefits. Oraan is a digital platform for Committee management, which enables individuals to meet their savings goals in a safe and transparent manner. EFU Life will provide financial protection to Oraan users so that their savings goals are met regardless of financial constraints caused by unfortunate events.
The agreement was signed by Mr. Mohammed Ali Ahmed, ED and Chief Strategy Officer, EFU Life, and Ms. Halima Iqbal, CEO Oraan. Speaking at the occasion, Mr. Ahmed said, “Over the last few years, EFU Life has focused on making insurance simple, accessible and affordable for the masses of Pakistan, especially women and youth, who are generally financially excluded. Our partnership with Oraan is an important step in this direction and their work is commendable. As part of our vision for mass scale inclusive insurance impact, we believe in the collaboration model and are utilizing various platforms and digital ecosystems in our country to reach out to all socio-economic segments for inclusive insurance solutions.”
Ms. Halima Iqbal said that she was excited to partner with EFU Life to bring a larger part of the population into the formal financial economy. Speaking about offering insurance as a value-added benefit to Oraan users, she said, “Many of us choose to ignore the reality of what would happen if we were to die suddenly without the proper protection; the Committee Protection Plan not only protects the entire group but also provides the safety to the family of the participant in case of un-foreseen events.”