EFU Life Assurance Ltd., the leading private life insurance provider in the country, has been conferred with ‘CSR Award 2024’ in the category of ‘Social Impact’ at the 13th Annual Corporate Social Responsibility Summit & Awards, organized by The Professionals Network and Ethical Business Update (EBU). The award is the first and only registered CSR Award of Pakistan registered with IPO Government of Pakistan.

Mr. Jalal H. Curmally, Deputy General Manager Human Resources, EFU Life Assurance Ltd., received the award on behalf of the Company. The award recognizes Company’s efforts towards social development and sustainability initiatives in the country.

EFU Life has been in the forefront of promoting and contributing to the causes of healthcare, education and environment and believes in playing a pivotal role in building a positive relationship with the society in which it operates. EFU Life has joined hands with numerous renowned non-governmental organizations for a better and prosperous Pakistan.

Another Step Towards Financial Inclusion: EFU Life and Jazz debut Takaful in Hifazat Program

ISLAMABAD, February 22, 2024: Jazz, Pakistan’s leading digital operator, has collaborated with EFU Life Assurance Ltd., the nation’s leading insurance company, to introduce the industry’s first Takaful (Shariah Complaint) offering for its subscribers.

Through this collaboration, Jazz subscribers can opt for low-cost Takaful products with unique benefits including health wallet, cancer protection, and coverage for female major medical illnesses. In addition, the customer’s entire family will be able to utilize virtual healthcare benefits.

Sharing his thoughts on the development, Kazim Mujtaba, Chief Commercial Officer at Jazz, said, “We are excited to partner with EFU Life to include a full suite of industry’s first Shariah Complaint products within a single program. Looking ahead, our goal is to further enrich this initiative by introducing additional products tailored to meet the diverse needs of our valued customers, especially those who need protection and support the most.”

Also speaking about this development, Mohammed Ali Ahmed, CEO & MD, EFU Life, said, “EFU Life remains steadfast in its commitment to advancing financial inclusion initiatives that make a tangible difference in the lives of millions. Our collaboration with Jazz represents a pivotal stride in this journey, aligning with our shared vision to empower individuals and communities through accessible and impactful financial solutions.”.

Aamir Khan, Commissioner Insurance, Securities and Exchange Commission of Pakistan (SECP), congratulated Jazz and EFU Life Pakistan for their initiative. He highlighted the significance of introducing Takaful Products through the telco segment, emphasizing that this innovative approach aligns well with the mass market’s higher acceptance of Takaful. Mr. Khan expressed SECP’s full support for the insurance industry’s digital and inclusive insurance initiatives.

The collaboration aims to increase the country’s insurance penetration and raise awareness of the benefits associated with education and health insurance. The program also seeks to create a visible social impact through financial inclusion and is in line with the Government’s National Financial Inclusion Strategy.

The new Takaful offering is an extension of Jazz’s ongoing engagement with EFU Life which began with the launch of the ‘Hifazat Program’ in 2021. The Takaful program offers various plans serving the varying takaful needs of customers, with payments seamlessly deducted on a daily basis from the customer’s airtime balance, ensuring a hassle-free process.

Karachi: Mindshare has partnered with EFU Life, a leading life insurance and family takaful provider, to drive the brand’s digital marketing strategy. This collaboration aims to introduce a data-driven media approach that communicates the benefits and importance of life insurance and financial well-being.

Mr. Mohammed Ali Ahmed, CEO & MD EFU Life, expressing his thoughts on the partnership said, ‘Leveraging on all digital channels for engaging with potential and existing customers, and tapping into new segments is a key part of EFU Life’s strategy. With this partnership, our goal is to leverage the media expertise of Mindshare to curate effective communication and use data to enhance the impact of our outreach.”

Amna Khatib Paracha, CDO of GroupM & MD of Mindshare, added, ‘At GroupM, we believe in bringing data upfront into our strategies and tailoring the communication based on the needs of businesses and audiences. With EFU’s market approach and Mindshare’s media expertise, we aim to elevate the online presence of the insurance industry.”

Mindshare operates as an agency under the umbrella of GroupM Pakistan, renowned for its digital and media services provided to businesses across Pakistan. GroupM Pakistan serves as a regional entity of GroupM Global, operational in regions including Asia, Australia, the Middle East, and Europe.

EFU Life Assurance Limited, leading life insurance provider in the country, has been honored with ‘Certificate of Merit’ for Best Presented Annual Report 2022 in the category of ‘Life Insurance’ by South Asian Federation of Accountants (SAFA). The awards ceremony was recently held in Kaushambi, U.P., India on 22nd December 2023.

The awards were conferred on the basis of Improvement in Transparency, Accountability & Governance pertaining to annual reports of organizations from South Asian countries.

SAFA was formed in the year 1984 to serve the accountancy profession in the South Asian Region and uphold its eminence in the world of accountancy. SAFA as an IFAC network Partner represents over 3,75,000 accountants having membership of the national chartered accountancy and cost and management accountancy institutions in the South Asian countries namely Bangladesh, India, Maldives, Nepal, Pakistan, Sri Lanka, and Afghanistan.