EFU Life is 1st Life Insurer in the world to launch a biometrically enabled policy acquisition system
Karachi (PR): Keeping up with the tradition of technological breakthrough initiatives, EFU Life has become the first life insurance company in the world to offer BLISS – a biometrically enabled, entirely digital, instant savings-cum-protection policy acquisition system.
BLISS allows a life insurance savings-cum-protection contract to be validated and created using biometric thumb-impression, which is verified instantaneously using Biometric Verification Services offered by the Government of Pakistan’s National Database & Registration Authority (NADRA). The system offers a fully digital, paperless experience. No physical or digital signatures on the app or paper, no hassles of paper forms, no physical copies of underwriting documents required, ever!
Speaking on the launch, Mr. Zain Ibrahim, Chief Operations Officer, EFU Life said “As a customer-centric insurer, we take our customer’s needs as the ultimate guide to decision making. As more and more of our customers demand real-time engagement, we are enthusiastically embracing the shift from the old paper-oriented sales process to a new, truly cohesive, digital ecosystem that eliminates the need for any manual intervention.
Ten minutes! It will take just ten minutes for a customer to buy a biometrically enabled savings-cum-protection product at a place of their convenience. No cumbersome paper forms needed to be filled and signed, no paper documents required to be submitted, and the best part is that the customer will receive digital Policy Documents immediately.
This new project is another testament to our resolve to make buying a savings-cum-protection life insurance policy an easy, hassle-free and pleasurable experience for our clients.
Ground-breaking initiatives like these are only possible if the regulator shares a similar vision of digitalization. We remain thankful to SECP for their tremendous support in this venture.”
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