Jubilee Life signs MoU with PFN to sponsor three Pakistan Insurtech Summits

KARACHI: Jubilee Life Insurance, Pakistan’s largest private insurer, recently signed on MoU with the Pakistan Fintech Network (PFN) for sponsorship of the upcoming Pakistan Insurtech Summits in 2024, 2025, and 2026. The annual Pakistan Insurtech Summit aims to drive innovation in the insurance sector, bringing together the key stakeholders in the sector and focusing on how technology can transform insurance services across Pakistan.

The 2nd Pakistan Insurtech Summit will take place in November 2024, at Karachi following a theme of “Transforming Pakistan's Insurance Landscape: Synergy of Tech, Partnership and Policy” where industry professionals will come together to shed light on various pressing issues concerning the industry right now.

The third and fourth Pakistan Insurtech Summits are slated to take place in 2025 and 2026 respectively. Each summit will gather key industry players, insurers, regulators, and tech innovators to explore how digital platforms, technology and innovation can revolutionize the insurance industry. Jubilee Life’s sponsorship of the flagship event resonates with its overarching goal of facilitating improvements to the field of insurance through the use of latest technological innovations.

Farhan Faridi, Group Head-Retail Operations, Marketing, and Admin at Jubilee Life Insurance, shared his thoughts on the partnership, “Jubilee Life has always been committed to advancing innovation in the insurance sector.

Our collaboration with Pakistan Fintech Network for the Insurtech Summits demonstrated our vision of a future where technology plays a pivotal role in making insurance more accessible, efficient, and customer-centric. We are proud to be the driving force behind such an important industry event.”

Fahad Sajid, CEO of Pakistan Fintech Network, expressed his enthusiasm for the partnership, noting, “We are thrilled to have Jubilee Life Insurance on board as the title sponsor for the Pakistan Insurtech Summits.

Their involvement underscores the importance of collaboration between financial institutions and the Fintech ecosystem to drive the future of Insurtech in Pakistan. These summits will be instrumental in connecting innovators with industry leaders to create sustainable growth for the insurance sector.”

The Pakistan Insurtech Summit served as a platform to discuss emerging technologies, exchange ideas, and build collaborations that will shape the future of insurance in Pakistan. The event highlighted how digital platforms, AI, and analytics can improve efficiency, enhance customer experience, and enable better risk management across the industry.

Copyright Business Recorder, 2024