United Bank Limited (UBL) recently became the first bank in Pakistan to be signed up by State Life Insurance Corporation (SLIC) to sell their insurance products under Bancassurance. SLIC is the leading insurance company of Pakistan with the highest market share and the largest network of outlets. GBA Services were signed on to provide the technical support including state of the art online POS System for instant coverage to the customer.
After the recent, signing ceremony, the product was formally launched on 2nd August, at the UBL Signature Lounge in Clifton. The launch ceremony was attended by Atif R. Bokhari, President& CEO, UBL and Shahid Aziz Siddiqui, Chairman, SLIC. This launch was a great success as the first policy was sold online to a UBL priority customer at the ceremony. Also in attendance were other senior executives from UBL, SLIC and GBA. Bokhari, commenting on the event said "We are proud to be associated with SLIC in this endeavour. Our association with SLIC will ensure that we reach out to customers all over the country, where traditionally insurance penetration is low".
Siddiqui remarked "We hope that this joint effort bears fruit for both organisations. This landmark launch has further opened doors for future such endeavours by SLIC and UBL." He further emphasised that customer knowledge in regard to all product features was paramount and it was essential that all features of the products be disclosed to the customer before he signs up for it. President UBL and Chairman SLIC present the UBL-SLIC Bancassurance Policy to the first customer.-PR
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