In a world where technology is reshaping industries, the insurance and Takaful sectors in Pakistan are on the brink of a transformative era. The recent “Directive for Sale of Life Insurance Savings Products through Technology-Based Distribution Channels, 2025”, introduced by the Securities and Exchange Commission of Pakistan (SECP), is a game-changer for the industry. But it’s not just insurance and Takaful companies that stand to benefit—Insurtech platforms like Tidal Waves are perfectly positioned to help these companies embrace this digital future and connect with more customers than ever before.
At Tidal Waves, we’re not just a technology provider; we’re a partner in innovation. Our mission is to empower insurance and Takaful companies with cutting-edge digital solutions that make insurance simpler, smarter, and more accessible. This new directive aligns perfectly with our vision, and here’s how we’re helping companies leverage it to grow and thrive.
- Enabling Digital Distribution for Wider Reach
The directive allows insurers and Takaful operators to distribute products through websites, mobile apps, and digital platforms. But building these platforms from scratch can be a daunting task. That’s where Tidal Waves comes in.
Seamless Integration: Our insurtech platform enables insurance and Takaful companies to quickly set up digital distribution channels, reaching customers wherever they are—whether in urban centers or remote villages.
Category A and B Products: We help companies design and launch products that fit the new regulatory categories, ensuring they can cater to a wide range of customer needs. From simple, affordable plans (Category A) to comprehensive solutions (Category B), our platform supports it all.
- Simplifying Insurance with User-Friendly Tools
One of the key requirements of the directive is to make insurance easier to understand. At Tidal Waves, we specialize in creating user-friendly interfaces and tools that simplify the customer journey.
Simplified Illustrations: We provide tools for generating clear, straightforward policy illustrations that comply with regulatory requirements. No more confusion—just transparency and clarity.
- Streamlining Operations with Digital Solutions
The directive emphasizes the need for insurers to digitize their operations, from customer onboarding to claim processing. Tidal Waves offers a comprehensive suite of digital tools to make this transition seamless.
Automated Processes: Our platform automates routine tasks like policy issuance, premium collection, and claim processing, reducing manual errors and improving efficiency.
Data Security: We prioritize the safety of customer data, offering robust cybersecurity measures to protect sensitive information and ensure compliance with regulatory standards.
- Personalizing Customer Experiences with Data Insights
The directive encourages insurers to use data for risk profiling and personalized offerings. Tidal Waves provides the technology to make this possible.
Data Integration: Our platform integrates with Mobile Network Operators (MNOs), banks, and mobile wallets, enabling insurers to access valuable customer insights and tailor their products accordingly.
- Building Trust Through Transparency
Trust is crucial in the insurance industry, and the directive highlights the importance of transparency. Tidal Waves helps insurers meet these requirements with ease.
Mandatory Call Backs: Our platform includes features for automated call-back confirmations, ensuring customers understand their policies and feel supported throughout their journey.
E-Policies: We enable insurers to issue e-policies in both English and Urdu, making it easy for customers to access and understand their policy documents.
- Promoting Financial Inclusion
The directive opens the door for insurers to reach underserved communities through branchless banking accounts and mobile wallets. Tidal Waves is here to help make this vision a reality.
Low-Cost Distribution: Our platform reduces the cost of distribution, making it feasible for insurers to offer affordable plans to low-income segments.
Wider Accessibility: By enabling digital sales through mobile phones, we help insurers reach customers in remote areas who previously had limited access to insurance.
Partnering for a Digital Future
The “Directive for Sale of Life Insurance Savings Products through Technology-Based Distribution Channels, 2025 is a call to action for the insurance and Takaful industry to embrace digital transformation. At Tidal Waves, we’re ready to be your partner in this journey. Our insurtech platform is designed to help you navigate the new regulatory landscape, connect with more customers, and deliver exceptional experiences.
For insurance and Takaful companies, this is an opportunity to innovate, grow, and make a lasting impact. And for Tidal Waves, it’s a chance to continue driving the industry forward with technology that empowers and inspires.
Ready to Elevate Your Insurance Business?
At Tidal Waves, we’re dedicated to helping insurance providers embrace the future of the industry. With the ever-evolving landscape and new regulations in place, our insurtech platform is designed to streamline your operations, ensure compliance with the latest directives, and expand your reach to more customers.
Discover how our innovative solutions can simplify your workflow and drive growth. Let’s work together to navigate the digital transformation in insurance and build a brighter future for your business.
Learn more about how Tidal Waves can transform your insurance operations today!
