Islamabad – The Securities and Exchange Commission of Pakistan (SECP) has issued a directive allowing the sale of life insurance savings products through digital channels to promote accessibility and innovation in the insurance sector.

The initiative aims to create a more flexible and consumer-friendly environment for digital distribution. SECP has introduced simplified onboarding requirements to facilitate policy purchases while ensuring transparency and added value for policyholders. The directive mandates a low charge structure and requires investments in low-risk instruments to enhance consumer protection.

Additionally, insurance companies are now required to offer at least one life insurance savings product through a website, mobile app, or independent platform within a year. The move is expected to boost insurance penetration in Pakistan by making policies more accessible and affordable.

The directive also encourages collaboration with digital banks, telecom operators, and web aggregators to expand the reach of insurance products. This step aligns with SECP’s five-year strategic plan, reinforcing its commitment to modernizing the insurance sector and improving the distribution of savings-based policies through online platforms.