Instaful Solutions

📢 Excited to announce my participation at the 8th Future of Insurance Distribution Summit 2024 taking place in Singapore from May 20th to 23rd. I'll be sharing insights and lessons learned on key contemporary topics at the core of the modern insurance industry such as distribution innovation, demystifying the relationship between customer segments, proposition design and distribution models and the increasingly important concept of phygital which is pivotal during this transitional phase 🚀🌏 Don't miss this chance to hear from the top insurance leaders. For more details about the event and speakers and for registration, visit https://lnkd.in/dBgA_7sU #InsuranceDistribution #DigitalInsurance #InclusiveInsurance #Innovation #Phygital #SingaporeEvents Equip Global Pte Ltd Instaful Solutions

Iylus and Instaful Solving Home Security Problems Islamabad – Iylus Systems, Pakistan’s first provider of complete smart home and business security services, has joined forces with Instaful Solutions to offer a triple-layered approach to home and business security. Through cutting-edge IoT security equipment, rapid response capabilities and Takaful coverage, the initiative is set to revolutionize the concept of home security in Pakistan. The increasing prevalence of security concerns in Pakistan underscores the vital role technology plays in addressing these challenges. With the advent of IoT devices, smart security service have become commonplace worldwide. Recognizing the need for effective security measures, Iylus has introduced a range of smart security and smart devices that can be easily managed through the Iylus Smart App. To further enhance peace of mind for our customers, we're proud to offer innovative theft and break-in risk protection solution, powered by Instaful and underwritten by a prominent Takaful Operator in Pakistan. The signing ceremony took place at Iylus headquarters in Islamabad. Speaking at the occasion, Kashif Mueen, CIO of Iylus Systems, said: Iylus is revolutionizing home and business security, making advanced solutions like our 24/7 Alarm Monitoring, Smart Cameras, and the Iylus Panic Button easily accessible. Our goal is to ensure that every home and business in Pakistan is equipped with reliable security, offering peace of mind through the convenience of the Iylus Smart App. Similarly, Rehan Butt Founder and CEO of Instaful Solutions, emphasized the importance of simplifying insurance products and processes, stating, "In Pakistan, insurance accessibility remains a challenge due to complex products and processes. Through this initiative, we are thrilled to simplify home insurance, ensuring that its adoption aligns seamlessly with the user experience of Iylus security solutions." Iylus, Pakistan’s premier smart security service, leads the way in enhancing safety with cutting-edge solutions. Our comprehensive suite, including 24/7 Alarm Monitoring, in-app Panic Button, Smart Cameras, Door Locks, and Doorbells, is designed to fortify every home and business. With the Iylus Smart App, we make security a seamless and intuitive experience, aiming to protect and reassure our customers around the clock. Instaful Solutions, a market-creating InsurTech from Pakistan, is on a mission to debunk the belief that "insurance is always sold, never bought" by simplifying both its delivery and purchase. Founded by Rehan Butt, a trailblazer in micro, digital and inclusive insurance, the company collaborates with insurance providers and consumer brands and social impact organizations, to make insurance easy, affordable, accessible and available. For more information, contact us at:  contact@iylus.com  contact@instaful-solutions.com

We are pleased to share that B4E Insurtech | Insurance Infrastructure-as-a-Service has officially partnered with Instaful Solutions to revolutionize the Insurtech space in the GCC. Our collaboration aims to address the underwhelming insurance penetration rates and redefine industry standards. Together, we're committed to innovation, excellence, and making a significant impact. Stay tuned for groundbreaking ventures shaping the future of insurance! Raxon D'Souza Shivani Singh Romik Makavana Jashan S. Rehan Butt India Insurtech Association MENA InsurTech Association #Collaboration #InsurtechInnovation #GCCInsuranceRevolution #GCC #insurance #lifeinsurance #migrantworkers #employerinsurance #voluntaryinsurance #inclusiveinsurance #B4EInsurtech #InstafulSolutions #collaboration #innovation #excellence #Insurtech #riskmanagement #protection #uninsured #underinsured #customers #partnership #strengths #impactful #endeavors #pushingboundaries #solutions #difference #future #hashtags #LinkedIn #networking #trending #popular #2021 #followercount #AI #tool #relevant #industry #specific #thoughtleaders #engagement #content #polls #followers #connections #geolocation #groups #customers #relationships #visibility

So the story goes like this: A poor person who had diligently saved money over a long period visited their bank to deposit the sum and came out having bought an annual premium #insurance policy. After realizing the situation, the client approached different quarters and with an effort spanning over several years, was refunded the money with mark-up. We know that this is not an isolated incident and there will be more cases with similar details. While it’s tempting to blame the insurer, the bank or the sales staff but crux of the matter lies elsewhere. Mis-selling in insurance is not a new phenomenon but the key question is how you stop it from becoming a norm or a systemic issue. Let’s not forget that the current #bancassurance process involves completing an extensive bilingual application form comprising several pages covering personal and family details, customer profiling and KYC, needs analysis, declarations, undertakings, seller’s report and what-not. However, despite its length and complexity, it fails to prevent cases like the one cited above. Our perspective is that adding more questions and sections will not solve the problem; actually quite interestingly, it might even complicate matters and increase the risk of things slipping through the cracks. A more effective approach is to address the core issue by #simplifying the products and creating #lean #processes to match the understanding of the common people. This way, individuals can make more informed decisions based on their own comprehension. This is precisely what we are trying to achieve through #InclusiveBancassurance© and #NextGenBanca©. #inclusivebancassurance #nextgenbanca #inclusivebancatakaful #digitalbancassurance #inclusiveinsurance #insurtech #digitalinsurance #digitaltransformation #microinsurance #instaful Shoreline Asia Instaful Solutions