Karachi: EFU Life Assurance Ltd., Pakistan's premier life insurance and takaful operator, in collaboration with EFU General Insurance Ltd., has partnered with Pingup, a leading wealth tech company in Pakistan, to provide cutting-edge takaful solutions. This partnership marks another significant milestone in EFU Life's journey to expand its Digital & Inclusive Ecosystem and address the evolving needs of Pakistan’s diverse digital population.

EFU Life, spearheading this initiative with the support of EFU General, aims to deliver innovative financial protection products that cater to underserved segments of society. The collaboration focuses on providing tailored solutions, including coverage for life and health risks, with a particular emphasis on empowering women through protection against female-centric cancers and critical illnesses. This initiative reflects EFU Group’s unwavering commitment to fostering financial inclusion and addressing the unique needs of Pakistan’s digital and underserved communities

The initiative reflects our commitment to fostering financial inclusion and addressing the needs of underserved segments, particularly women, across Pakistan. By leveraging Pingup’s technology-driven approach and EFU’s expertise in insurance, this collaboration is expected to address long-standing challenges in financial inclusion.

At the launch ceremony, Mr. Mohammed Ali Ahmed, the MD and CEO of EFU Life, expressed his thoughts, “EFU Life has always been at the forefront of promoting financial literacy and protection in Pakistan, driven by our vision to assure financial security for every individual. With this partnership, we are taking another significant step toward female financial inclusion and holistic financial solutions. By offering these unique combo products, we aim to protect lives, safeguard investments, and empower individuals, especially women, to thrive with confidence”.

Mr. Syed Salman Rashid, Deputy Managing Director of EFU General, commented, "This collaboration represents a monumental step towards reshaping the future of financial protection in Pakistan. By leveraging EFU General's trusted expertise and Pingup’s innovative digital platforms, we aim to empower individuals, with a special focus on women empowerment, by providing accessible, reliable, and inclusive financial solutions. Our commitment remains steadfast in ensuring that underserved communities can access comprehensive protection and benefit from our services.”

Mr. Naseer Hasan, Director of Ping Up, expressed his remarks, “At Ping Up, we are on a mission to redefine financial empowerment for everyone, with a particular focus on inclusivity and accessibility. We believe financial literacy is not just a skill, it is a cornerstone for building a secure and prosperous society. By partnering with EFU Life and EFU General, we are taking a significant step towards offering holistic financial solutions that go beyond wealth management. With the introduction of tailored insurance products, we aim to simplify financial decisions, provide security, and empower individuals, especially women, to build a promising and secure future.”

This initiative aligns closely with the United Nations Sustainable Development Goals (SDGs), specifically SDG 3: Good Health and Well-Being, SDG 5: Gender Equality and SDG 10: Reduced Inequalities.

This collaboration with Ping Up Pakistan exemplifies the potential of combining local expertise with global innovation to redefine financial protection in the country. Both organizations look forward to continuing their efforts to create meaningful and impactful solutions for the community and reflects a commitment to fostering a culture of protection, enabling individuals and communities to thrive without the fear of unforeseen financial setbacks.