AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, The Securities and Exchange Commission of Pakistan (SECP) has officially registered M/s Salaam Family Takaful Limited, marking the entry of the country’s first digital-only family takaful operator. This significant development in the insurance sector aims to enhance service delivery and accessibility through digital means.
According to Securities and Exchange Commission of Pakistan, the decision follows an amendment to the Insurance Rules, 2017, which introduced a specific registration regime for digital-only insurers and dedicated micro-insurers. This amendment is designed to promote digitalization in the insurance industry, improve customer convenience with instant service provision, and encourage the adoption of international best practices centered on customer needs.
The newly registered digital takaful operator is set to offer several innovative features, including digitized claims management, enhanced policyholder communication via online portals, and services tailored to meet specific customer needs. With digital channels currently representing less than 1% of the total industry premium, the introduction of digital family takaful is expected to positively influence the industry’s premium contributions from digital sources and boost overall insurance penetration in Pakistan.