Islamic Insurtech in Pakistan: Technology Adoption and Benefits
Islamic insurtech (TakafulTech) in Pakistan is rapidly transforming the traditional Takaful (Islamic insurance) sector. With digital adoption, parametric insurance models, telematics, and mobile-first services, companies are reshaping how customers access and benefit from Shariah-compliant risk protection. This article explores leading Islamic Insurtech in Pakistan, the technologies they adopt, and the operational and customer benefits.
Key Islamic Insurtech Companies in Pakistan
Salaam Takaful Limited
This company offers individual level products (Motor Takaful, Sehat Takaful, Travel Takaful, Home Takaful, Personal Accident Takaful, Pet Takaful), and corporate level products (Salaam Group Health Takaful, Crop Takaful, LiveStock Takaful, Fire Takaful, Marine Takaful).
Technology adoption:
- Mobile app with telehealth service & GPS hospital locators: Policy management and health services via a mobile app that connects customers to doctors and network hospitals.
- Digital onboarding for Sehat Takaful: Online customer registration, KYC, policy selection & customization, digital signatures, and digital payments (Easypaisa, JazzCash). Policies are issued instantly via SMS or email.
- Pay-As-You-Drive (PAYD) motor takaful: Telematics-based motor product charging customers by actual usage.
- Parametric crop takaful: Weather-index triggers and satellite data enable automatic payouts to farmers when pre-defined triggers are met.
- Data sharing & integration: Agreement with CDC Pakistan to participate in CISSII and the Centralized Insurance Repository (CIR) for cross-industry data sharing to improve risk assessment, anti-fraud, and customer verification.
Benefits:
These technologies — mobile apps, telematics, weather-index triggers, satellite monitoring, WhatsApp/email communication, online payment links, and CDC/CISSII data sharing — expedite and add transparency to claims procedures by reducing the need for lengthy field surveys and manual processes.
Conclusion
Islamic Insurtech in Pakistan like Salaam Takaful are delivering measurable benefits to both customers and operations. Insurers lower operational costs by reducing reliance on physical branches, speed customer acquisition through end-to-end digital flows, and centralize data for analytics. Customers enjoy paperless policy and claim management, faster approvals and activations, and immediate access to policy documents. The future of Takaful in Pakistan is digital, inclusive, and efficient.
