Tez and EFU Partner Up to Provide Digital Insurance Solutions

Tez Financial Services recently expanded its strategic partnership with EFU, Pakistan’s leading life insurance company, for Digital Insurance. Tez is one of the fastest growing FinTechs in Pakistan, offering digital nano-loans and is now activating its insurance vertical, Tez Bima. Through Tez Bima, Tez users will be able to instantly subscribe to small ticket insurance. The first product being launched by Tez is EFU Life’s Hospital Coverage Plan.

The agreement was signed in an online ceremony by Humza Hussain, Co-Founder at Tez Financial Services and Mohammed Ali Ahmed, Chief Strategy Officer & Executive Director at EFU Life. Speaking at the ceremony, Mr. Humza Hussain expressed, “This strategic alliance with EFU marks the beginning of an exciting new chapter in Tez’s journey. Our vision is to create a one stop financial solution for the 100 million unbanked and underbanked Pakistanis, and enabling access to affordable digital health care & insurance services is an important part of that vision.” Mr. Mohammed Ali added, “We are making strides in our financial inclusion and digital insurance strategy by offering sustainable life, savings and health solutions to the masses.”

The product, which is now available on Tez’s android application , will provide a daily cash benefit to the life assured if an injury or illness results in hospitalization for more than 24 hours in any hospital throughout Pakistan. In addition, if the life assured is confined to the Intensive Care Unit (ICU), then an additional amount equal to 100% of the daily benefit will be paid by EFU Life. The subscription process is simple, instant and entirely paperless.

Source: https://www.tezfinancialservices.pk/press.php