Pakistan - New insurtech-based life insurance product
Wednesday, 10 31 2018, Category: Technology, Country: Asia
The SECP has approved a new life insurance product, which is equipped with insurance technology features such as artificial intelligence and data analytics. The product is first of its kind in Pakistan and has been introduced by the relevant insurance company in partnership with an international technology service provider. Through this unit-linked product, the insurance company will be able to track the health performance of policyholders in respect of predetermined indicators, i.e. heart rate, cholesterol level, glucose level etc. and provide reward points to policyholder on achievement of periodic preset targets. The policyholders can also get integrated benefits, such as, credit of percentage of premium into their investment account on achievement of certain preset targets.
Source: Pakistan Observer