JazzCash, the country’s fastest growing mobile financial services provider, has partnered with Chubb Insurance Pakistan Ltd. to come up with an innovative insurance product. The product called Child Education Plan, secures a child’s education in the case of an unfortunate event leading to disability or accidental death.
There are many Pakistanis that are vulnerable to economic shocks and this service targets them to ensure the next generation’s education is ongoing and secure.
Insurance penetration and density in Pakistan is the lowest compared to the regional average. Mobile financial services can change that.
For an affordable annual premium of only PKR 399, Chubb Insurance will provide children of the policy-holder educational coverage of up to PKR 400,000, for one year from the day of policy subscription. JazzCash mobile account customers will be able to subscribe for the Child Education Plan by simply dialing a number from their handset.
Aamer Ejaz, Chief Digital and MFS officer, Jazz said, “JazzCash looks to offer innovative products and services to not only promote usage of mobile financial services, but to offer greater convenience in times of dire need.”
“This collaboration with Jazz to provide JazzCash customers with an innovative insurance product is part of our commitment to supporting efforts around digital transformation and providing customers with peace of mind,” said Barry M Johnson, Regional Director, Accident and Health Development, Chubb Eurasia and Africa.