Salaam Family Takaful Limited has partnered with CDC to participate in key information sharing initiatives.
This collaboration will see SFTL integrated into the Centralized Information Sharing Solution for the Insurance Industry (CISSII) and the Centralized Insurance Repository (CIR). Both platforms are crucial components of Pakistan’s insurance industry, fostering transparency and information exchange among stakeholders.
The agreements were signed by the CEOs of both companies – Rizwan Hussain from SFTL and Badiuddin Akber from CDC – in the presence of senior representatives.
“SFTL is committed to supporting the growth and development of the insurance industry, particularly through digitalization,” said Rizwan Hussain, CEO of SFTL. “We appreciate these initiatives by CDC and SECP (Securities and Exchange Commission of Pakistan) to promote transparency and reduce risk.”
The CISSII platform, launched in 2014, provides a structured mechanism for insurance companies to share critical information. This enhances transparency and facilitates collaboration within the industry. The CIR, established in 2020, builds upon this by offering a centralized repository for policy-related data, accessible to authorized stakeholders.
“CDC’s expertise and technological infrastructure enable these groundbreaking initiatives,” said Badiuddin Akber, CEO of CDC. “We welcome SFTL to the CISSII and CIR platforms, fostering a partnership that promotes growth and confidence in the insurance sector.”
This collaboration signifies a positive step towards a more robust and transparent insurance industry in Pakistan. SFTL’s integration with these information sharing platforms will contribute to improved efficiency and informed decision-making within the sector.
