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JazzWorld has highlighted the role of digitalisation and artificial intelligence (AI) in expanding insurance access in Pakistan.
The company shared its views during the Securities and Exchange Commission of Pakistan (SECP) Talk Series on the future of the insurance sector.
JazzWorld acquired a controlling stake in TPL Insurance in July 2026. The move forms part of its strategy to expand digital insurance and protection services across Pakistan.
Muhammad Aminuddin, CEO of TPL Insurance, said Pakistan’s non-life insurance market stands at about $1 billion.
He said the broader market opportunity could reach around $90 billion. Millions of people, vehicles and emerging assets remain uninsured, creating significant room for expansion.
Aminuddin said about 97% of registered vehicles remain without insurance coverage.
He also pointed to the rapid adoption of residential solar systems. According to him, solar installations represent another asset class with limited insurance coverage.
Changing lifestyles are also creating new risks and insurance needs. These include shifts in employment, mobility and consumption.
The changes could support new products covering health, income protection and other emerging risks.
Aminuddin said insurers need to develop products around changing consumer and business risks.
He also called for a move beyond traditional insurance distribution models.
Embedded insurance could allow customers to access protection through products and services they already use. Usage-based pricing could also help insurers develop more flexible products.
Digital distribution could further reduce barriers to accessing insurance.
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Meanwhile, AI, smart wearables and connected technologies could improve risk assessment and pricing.
These tools could also strengthen customer engagement and allow insurers to personalise products based on individual needs.
Aminuddin stressed that technology alone cannot expand insurance coverage.
He said Pakistan also needs an evolving regulatory framework that addresses data ownership, data access, liability and information sharing.
Greater transparency could also help strengthen consumer confidence.
Simpler insurance processes and fair, timely claims settlement would remain important for building trust, he added.
According to Aminuddin, stronger consumer confidence could encourage more Pakistanis to enter the formal insurance system.
The SECP session brought together senior leaders from Pakistan’s insurance industry.
Dr. Kabir Ahmed Sidhu, Chairman of SECP, attended the session. Shoaib Javed Hussain, CEO of State Life Insurance Corporation of Pakistan, and Mohammed Ali Ahmed, CEO of EFU Life Assurance, also participated.
The discussion covered several areas of the sector’s development.
These included digital insurance products, claims settlement and third-party motor insurance.
Participants also discussed AI adoption, retirement solutions and technology-driven insurance products.
The session focused on ways to increase insurance coverage while strengthening consumer protection.
TPL Insurance adds insurance services to JazzWorld’s wider digital ecosystem.
The portfolio spans connectivity, financial technology and digital platforms.
JazzWorld says its strategy uses technology, digital distribution and scale to make essential services more accessible across Pakistan.
The company describes this approach as part of its purpose of enabling a “Better Life For All.”
JazzWorld is an integrated digital ServiceCo in Pakistan. It serves more than 100 million users through a portfolio that includes connectivity through Jazz, financial services through JazzCash and Mobilink Bank, entertainment through Tamasha, and the SIMOSA ultra app.
Its portfolio also includes insurtech services through TPL Insurance and FikrFree, as well as enterprise cloud solutions through Garaj.
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