Instaful

A few months ago, a friend and senior insurance industry professional remarked that hashtag#digitalinsurance in markets like hashtag#Pakistan is a futile exercise and nothing more than a buzzword. He insisted that insurance here would continue to be conducted in the same manner it has been for decades. I couldn’t disagree…

So the story goes like this: A poor person who had diligently saved money over a long period visited their bank to deposit the sum and came out having bought an annual premium hashtag#insurance policy. After realizing the situation, the client approached different quarters and with an effort spanning over…

With changing dynamics around the world marked with the rise of FinTechs, payment and lending platforms and Covid-driven fast-tracked growth in awareness and usage of financial products and digital processes, the stage is set for insurance to be offered to the previously excluded segments of society. Taking Pakistan for example,…

Insurtech and digital insurance have become buzzwords these days and that is all for good reasons. But in the context of emerging and frontier markets, digital insurance has more to do with market-creating innovation than disruption which is normally the case with Western or developed markets with deeper insurance penetration.…

A lot has been said about low insurance penetration in Pakistan and many professionals fear that it may further deteriorate in the face of rising inflation and ongoing economic challenges. Average Pakistanis, whose earnings are roughly $4 to $30 per day, are mostly excluded from insurance, even though they are…

Several years ago, a colleague said that ‘no one wakes up in the morning to buy insurance’ in an attempt to explain the reasons for an ever-anaemic demand for insurance products. Over the years, this phrase has become popular among neo-insurers and those trying to change how insurance is traditionally…