Regardless of where you live or who you are, protecting your home, assets and loved ones is always a key concern. In a world full of uncertainty, it’s only human nature to protect and secure your future and be prepared for whatever is to come.
InsurTech’s gathering momentum in recent times reflects a gradual industry-wide shift from a “product-centric” to a “customer-centric” model. With an aim to cater to consumer expectations, and concurrent market and regulatory conditions, and bring them as per with tandem technological advancement, the industry’s acceptance of these new technologies has significantly accelerated developments in the last 12 months.
While many countries had started moving towards digital insurance way before the pandemic struck, post-pandemic the landscape had entirely changed. Less physical interaction meant an increase in the use of digital tools to access products and services.
The newly introduced changes in the modes of living due to the Covid-19 not only led to an increase in customers contacting their insurers to understand various terms but also increased the number of insurtech startups in the country, which helped the people find the right insurance option as per their requirements.
Though gradually, digital insurance is finally finding its place in the country. The customer interaction in digital insurance has widely increased due to new products launches that aim to offer help to individuals in case of severe issues like global pandemics.
Another great innovation through digital insurance is usage-based insurance. The premiums payable are based on the extent to which an activity is performed. Hence, a customer is charged by how often they access the service. It is advantageous for dormant insurance covers. Such viable and well-suited services have bought even those people on board with digital insurance, who were previously against or immune to such ventures.
While companies like Jubilee Life Insurance, EFU, Adamjee Insurance, Alfalah Insurance, and State Life Insurance cover life, property, fire, liability, guarantee, and social insurance, the new wave of insurtech startups have now made insurance more readily available and accessible to the common man, making it just a click away.
Insurtech startups act as a bridge between the insurance company and the people, according to the kind of insurance quote one wants and the amount they’re willing to invest, the startup connects them with the most suited insurance package, which suffices their needs. Now insurance is just a click away! We’ve carefully shortlisted a number of insurtech startups that can help you get online insurance quotes within minutes in Pakistan, without having to commute to the office or go through rigorous paperwork.
Easyinsurance: Digitizing access to insurance in Pakistan
Easyinsurance acts as a free and independent guidance platform for Insurance products.
Living up to their slogan of digitizing access to insurance in Pakistan, the venture aims to integrate technology with existing systems, to provide you with an insurance plan that is well suited to your needs.
With insurance partners like State Life, Jubilee, Efu, Adamjee insurance, Asia insurance, premier insurance, Pak Qatar insurance and many more, easyinsurance simply makes insurance easier for you. They not only help you get a personalised insurance plan but also draw comparisons between these plans that help you pick out the best one from the lot. All you have to do is go to their website, easyinsurance.com.pk enter your requirements, compare different plans and buy insurance online.
Smartchoice: Insurance made simple for you
Another digital insurance platform like easyinsurance, that allows customers to compare insurance policies, evaluate plans and buy instantly from top insurance companies in Pakistan.
Providing you with a wide range of options to choose a personalised plan from, smartchoice also provides free consultation to help you understand your insurance needs.
Visit their website smartchoice.pk, choose the kind of insurance plan you want, enter the required details and you’ll see a list of insurance plans, choose the one that best suits your needs and budget.
Salaam Takaful Limited: The only Shariah Compliant Insurtech of Pakistan
Salaam Takaful Limited is the largest dedicated general takaful operator and the 1st Shariah-compliant insurtech in Pakistan. The company has general takaful offerings backed by digitized processes. Through the Takaful online option on the company’s website salaamtakaful.com, you can choose to buy an insurance plan online according to your insurance needs.
Tez Financial Services: Get back your financial freedom
With health insurance starting from as low as Rs. 75, you might as well start an insured and stress-free life now.
Tez Bima allows you to not only get health insurance at admirably low rates but also provides you with the ease to consult with an online doctor whenever needed. However, for now, Tez Bima only provides health insurance and whether it’ll shift towards other insurance plans or not in the near future, we can’t say anything about that.