The Securities and Exchange Commission of Pakistan (SECP) has granted the country’s first-ever digital-only non-life insurance license to Digi Insurance Limited, marking a major milestone in the evolution of Pakistan’s insurance sector. The license, issued under SECP’s progressive regulatory framework, reflects the Commission’s commitment to promoting innovation and expanding access to financial services through technology-led models.
Digi Insurance Limited is a homegrown insurtech company offering an end-to-end digital platform for non-life insurance products. Its business model is built on digital-first principles, with core operations—such as policy issuance, customer onboarding, and claims processing—conducted entirely through digital channels. By leveraging advanced technologies and data-driven tools, Digi Insurance aims to deliver faster claims processing, enhanced customer experience, and operational efficiency.
The digital-only license allows Digi Insurance to operate without any physical branch infrastructure, reducing overhead costs and enabling broader reach, especially in underserved and remote regions. This move supports SECP’s strategic goal of financial inclusion through responsible innovation, and promotes the adoption of customer-centric, tech-enabled insurance solutions.
This initiative is part of SECP’s broader efforts to modernize Pakistan’s regulatory landscape and encourage the growth of new market entrants that offer agile and efficient business models. The Commission expects this approval to act as a catalyst for digital transformation within the insurance industry, driving greater competition, improved service delivery, and innovation in product offerings.
SECP remains committed to supporting Pakistan’s shift toward a digitally enabled economy by fostering innovation, simplifying business processes, and strengthening the accessibility and resilience of the financial sector.
