SECP Issues First Digital-Only Insurance License

Islamabad, July 22, 2025, 07:36 PM PKT — The Securities and Exchange Commission of Pakistan (SECP) has unveiled a historic breakthrough, granting the first-ever digital-only non-life insurance license to Digi Insurance Limited, a game-changing milestone in Pakistan’s insurance sector, driving modernization, innovation, and expanded financial access via tech-driven models, per official statements. As an indigenous insurtech firm, Digi Insurance offers a fully digital platform for non-life products, handling policy issuance, customer onboarding, and claims management through digital channels, harnessing advanced technologies and data solutions to streamline processes, enhance customer experience, and boost efficiency.

This branch-free license slashes operational costs and widens market reach, targeting underserved and remote populations to fuel financial inclusion, aligning with SECP’s vision for responsible innovation and customer-centric solutions. The move signals a push for digital transformation, aiming to ignite competition, improve services, and spur product development, reinforcing Pakistan’s shift to a digitally enabled economy with easier business operations and a resilient financial sector. Web context highlights fintech growth, while posts found on X show optimism—some praise progress, others question reach. Critically, the narrative of “digital revolution” may mask implementation hurdles—web data hints at past tech lags, and X sentiment suggests distrust in widespread adoption, pointing to potential challenges.