ISLAMABAD
\nPak-Qatar Family Takaful and Instaful Solutions have entered into a strategic partnership to introduce Inclusive BancaTakaful, a first-of-its-kind initiative in the country.
\nBancaTakaful, an innovative distribution model, involves offering Takaful products to bank customers, primarily to depositors.
\nUnlike traditional BancaTakaful which typically targets a subgroup of wealthier individuals with higher deposit amounts, this new initiative aims to address the needs of the majority, middle- or low-net-worth individuals, comprising 60-70 percent of total bank depositors.
\nThese customers are exposed to host of savings, investment and protection needs which largely remain unserved under current model. Recognizing the changing landscape influenced by enhanced digitalization, Pak-Qatar Family Takaful and Instaful believe that leveraging technology is key to scaling Takaful products beyond a limited niche to a mass clientele.
\nThe concept of Inclusive BancaTakaful is in essence Digital BancaTakaful and revolves around offering a range of innovative products and solutions to the currently ignored middle segment of banks through the use of technology.
\nTo commemorate the signing of this transformative partnership, a ceremony took place at the Pak-Qatar Family Takaful headquarters in Karachi and was attended by senior leadership from both organizations.
\nSpeaking at the occasion, Mr. Azeem Pirani, CEO of Pak-Qatar Family Takaful, expressed enthusiasm about this collaboration, stating, \u201cOur partnership with Instaful aligns with our commitment to delivering innovative, customer-centric solutions. Through this collaboration, we aim to redefine the Takaful landscape, making it more accessible, convenient, and transparent for our valued customers.\u201d Also present at the occasion was Mr. Farhan Shaukat (CEO \u2013 Pak-Qatar Asset Management) and Mr Zeeshan Haider (Head of ADC) from Pak-Qatar Family Takaful
\nRehan Butt, Founder & CEO of Instaful Solutions, expressed his excitement, saying, \u201cPakistani Takaful market must shift its focus beyond a small niche and adopt market-creating strategies to support the SECP\u2019s Journey to for financial inclusion in Pakistan. We are thrilled to join hands with Pak-Qatar Family Takaful in this exciting journey to introduce Inclusive and Digital Banca Takaful products meeting the needs of ordinary Pakistanis.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Pak-Qatar Family Takaful and Instaful Solutions have entered into a strategic partnership to introduce Inclusive BancaTakaful, a first-of-its-kind initiative in the country. BancaTakaful, an innovative distribution model, involves offering Takaful products to bank customers, primarily to depositors. Unlike traditional BancaTakaful which typically targets a subgroup of wealthier individuals with higher deposit amounts, this new […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-374514","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"yoast_head":"\n