EFU Life and HABIBMETRO Bank jointly launch new product— to promote Female Financial Inclusion

F.P. Report

KARACHI: EFU Life Assurance Ltd, the leading private life insurance provider in the country further strengthened its partnership with, HABIBMETRO Bank – a leading commercial bank – by launching various key initiatives including the launch of “EFU Ladies Insurance & Investment Plan”. This plan is designed for HABIBMETRO Ladies account holders and is a unit-linked protection and savings plan bundled with micro-critical illness cover and a new paperless distribution channel “Telesales”.

The signing ceremony was attended by Mr. Ahmed Shah DurranI, Group Executive Retail Bank & Chief Digital Officer and Ms Sarah Irfan, Head – Liabilities & Bancassurance from HABIBMETRO, while Mr Mohammed Ali Ahmed, Deputy Managing Director, Ms Nilofer Sohail, Head Channel Strategy & Execution of EFU Life attended from EFU along with other senior officials from both organizations.

Speaking on this occasion Mr Mohammed Ali Ahmed mentioned, “In recent years, there has been a growing focus on addressing the unique needs and challenges faced by women, particularly in financial security. In addition to saving and insurance coverage, this plan also provides a cover for female-related critical illnesses.

Additionally, I also congratulate the bank on the launch of the Telesales channel for protection products which will help the bank to reach a wider audience through an entirely paperless model.”

Also commenting at the event, Mr Ahmed Shah Durrani, Group Executive Retail Bank & Chief Digital Officer of HABIBMETRO emphasized the importance of launching financial products and services tailored to the specific needs of women. He said, “Women are the largest underserved group of customers when it comes to insurance and investment products. Despite playing an increasingly influential role as everyday decision makers, their financial needs are not being met sufficiently.

Through this collaboration, HABIBMETRO has moved one step closer towards its goal of serving our female customers and providing them with products that will secure them financially.”

EFU Life is one of the leading life insurers in the private sector of Pakistan. Having started operations in 1992 as the first private sector life insurance company, over a span of 30 years, EFU Life has established itself as a trusted brand name in providing all types of financial planning solutions. The Company markets its business through three main distribution channels – Sales Force, Bancassurance/Bancatakaful, and Group Benefits. A comprehensive range of retail products are available targeting low-income persons up to high-net-worth individuals. In addition, tailor made solutions are offered to the corporate sector through group life schemes.

HABIBMETRO Bank was incorporated in Pakistan as a Public Listed Company in 1992. HABIBMETRO is a leading trade finance bank that currently operates with 500+ branches (including 60+ dedicated Islamic branches, 240+ Islamic windows and one offshore banking unit in Karachi Export Processing Zone) in 190+ plus cities across Pakistan. The Bank serves its customers within retail, corporate, commercial and Islamic segments through a dynamic suite of technology-led financial solutions, including round-the-clock banking facilities such as mobile and internet banking as well as a network of 500+ ATMs across the country.