To accelerate digital payments in Pakistan, EFU life signed an agreement with National Institutional Facilitation Technologies (NIFT) and has become the first Insurance company for enabling digital payments through NIFT ePay which is the epayment gateway offered by NIFT, one of the largest payment processors in Pakistan for enabling digital payments (mobile/electronic commerce payments) through NIFT’s DFS platform.

NIFT ePay launched account based e-commerce payment platform which is gradually being adopted by leading businesses in Pakistan in several business verticals. The flexible pricing regime and the ability to customize solutions to enable payments across various use cases is a key upside for the NIFT’s epayment gateway. NIFT ePay has enabled EFU Life’s policyholders to pay their insurance/takaful premiums directly through their bank accounts or wallets on EFU Life’s website.

The agreement was signed by Mr. Haider Wahab, CEO – NIFT and Mr. Zain Ibrahim, COO – EFU Life at the head office of EFU Life. In the presence of Mr. Ashfaque Ahmed General Manager IT EFU Life, Mr. Ahmar Hasan , Senior Manager Innovations EFU Life along with Fawad Abdul Kader Head of Digital Financial Service and Mr. Imran Korai , Head of Business Development NIFT.

Speaking on the occasion, CEO of NIFT, Mr. Haider Wahab, said “EFU Life is another unique and exciting use case opening up digital payments and services going live with NIFT’s ePayment Gateway. We are happy to offer convenience of digital payments for the customers of EFU Life. We believe comprehensive and innovative digital payments benefiting all and contributing to the financial inclusion and to achieving a digital economy. This is exactly the vision that was behind NIFT ePay and it is very heartening to see its actual manifestation in the market.”

Mr. Zain Ibrahim, COO – EFU Life, stated; “We are delighted to bring NIFT onboard as our digital payments service provider. This partnership will provide crucial support to our keen focus on adopting robust technology solutions to enhance our customer’s overall experience. We will continue to lead our niche in offering convenience and hassle-free policy services, and digitizing payments is one such step enabling our clients to make and receive payments digitally. We are thus excited to reach another milestone in our innovative service journey”.

PAKISTAN, Karachi, 30th March, 2021 Faysal Bank Limited (FBL) has Launched Manzil Account, a regular saving instrument designed to encourage customers to save regularly towards achievement of their financial goals. Customers will have the flexibility to choose their saving contribution and tenor in line with their financial plans, with the option to pay on a monthly, quarterly, semi-annual or annual basis. In order to ensure that our customers achieve their financial aspirations, this account provides built-in Takaful coverage in the event of an unforeseen eventuality.

The Takaful coverage included in the proposition, has been structured in partnership with EFU Life Window Takaful operations, one of the largest private sector Takaful providers in the industry.

The signing ceremony was attended by Mr. Tahir Yaqoob Bhatti, Head Retail Banking, Faysal Bank Ltd. and Mr. Tahir G. Sachak, MD & Chief Executive Officer, EFU Life Window Takaful Operations along with the core product teams.

Speaking at the event, Mr. Tahir Yaqoob Bhatti said, “This collaboration will allow us to further expand our menu of products and offer our customers a chance to avail this unique saving proposition designed to facilitate better financial planning and a goal-oriented approach to saving.”

Speaking at the event, Mr. Tahir G. Sachak said, “EFU Life is committed in offering unique and innovative Takaful solutions to the masses of Pakistan. This partnership with Faysal Bank is important as it is linked to our vision of embedding protection through various channels, aimed to cover the financial risks of the customers in unfortunate events like death and accidents, safeguarding livelihood of their loved-ones”.

EFU Life Assurance Ltd, the leading insurance provider in the country is proud to partner with Afzaal Memorial Thalassemia Foundation (AMTF) for its PRIMUS Loyalty Program. The partnership will enable EFU Life’s high priority client base to avail various discounts and attractive offers on labs, radiology and Xray services.

The agreement was signed by Mr. Shahid Abbas, Executive Director EFU Life and Dr. Asim Qidwai, Founder AMTF. They were joined by Mr. Rehan Yaseen Chief Finance Secretary AMTF, Ateeq ur Rahman, Executive Director AMTF, Ms. Aman Hussain, Head of Marketing, EFU Life and Mr. Faizan Shuja Head of Alliances, EFU Life.

Speaking on the occasion, Mr. Shahid Abbas said, ‘We are invested in adding value for our clients not only through our comprehensive financial planning solutions and world class services, but by opening to them a world of exclusivity and convenience. By partnering with AMTF, our PRIMUS clients will now have access to Pakistan’s leading state of the art medical facility for their laboratory and diagnostic services.’

Dr. Asim Qidwai added, ‘Today AMTF has further strengthened its collaboration with EFU Life. We have been partners in Thalassemia eradication and are now proud to extend our medical services to EFU Life PRIMUS Clients.”

EFU Life PRIMUS Loyalty Program gives an unparalleled advantage to clients by offering exclusive discounts at over a hundred leading brands in the country, categories including Food, Lifestyle, Wellness, Leisure, and Insurance. These offers are a few taps away on EFU Life PlanIT mobile app, available on both Android and IOS platform.

EFU Life recently held their Annual Sales Conference in Lahore. It is the flagship event of the year, recognizing the performance and achievements of the distribution channels.
Inspite of a difficult year for most businesses locally and worldwide due to the pandemic, the Company further strengthened both its top line and bottom line. This year’s conference was a tribute to the hard work and ccommitment of the sales teams that stood the test of time. It was a reminder that with courage and passion one can be unstoppable and achieve success no matter what the situation.
Speaking on the occasion, Mr.Rafique Bhimjee, Chairman EFU Life said “2020 was a challenging year not only for us and the insurance industry, but the pandemic led to a global impact where businesses have struggled to sustain themselves in these unprecedented times. We remained strong in these challenging times in our resolve to look after members of our EFU Life family and to continue to serve our clients. We further reinforce our commitment to serve our clients by providing them with diverse and affordable financial planning solutions to meet the need of every household of Pakistan.”
Today the Company has over 10,000 consultants & managers, with the largest sales force in the private life insurance industry. In 2020 the Company maintained the top ranking with 168 sales consultants qualifying for the Million Dollar Round Table (MDRT). MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business.

EFU Life and UBL Partner to Provide Protection Net in Critical Times

(Karachi): EFU Life further strengthened its partnership with UBL by launching “EFU-You Protect Plan,” a complete protection plan with both Conventional and Takaful variants designed for UBL customers. EFU- You Protect Plan provides a simple and affordable way to ensure that customers and their loved ones are financially protected in unfortunate events like hospitalization and death.

The signing ceremony was held at Marriot Hotel in Karachi and agreement was signed by Mr. Taher G. Sachak, Managing Director & Chief Executive Officer – EFU Life and Mr. Zia Ijaz, Group Executive-Branch Banking & International. The ceremony was also attended by senior officials from both organizations.

Mr. Taher G. Sachak at the event stated, “EFU Life is a pioneer in mitigating life and health risks by introducing relevant insurance and protection services for its customers, helping them sustain their financial well-being and long-term financial goals. Our relationship with UBL spans over a decade and it’s our privilege to further our commitment to financial inclusion for the masses by launching EFU- You Protect Plan a small ticket protection plan that will allow to serve the most vulnerable and unserved segment and protect them against financial uncertainties” .

Mr. Zia Ijaz further added “UBL has always been at the forefront when it comes to providing its customers with need-based products. We take pride in the initiative to reach out to every market segment with the launch of EFU – You Protect Plan, offering them protection, especially in these critical COVID times “.

This new strategic partnership will give both the organizations an opportunity to increase financial inclusion by providing customer-centric offerings to the masses through the network of UBL.