Jubilee Life and Bank of Azad Jammu & Kashmir sign Bancassurance Agreement

Bank of Azad Jammu & Kashmir (BAJK) and Jubilee Life Insurance Company Limited have recently entered into a distribution alliance for Jubilee Life’s insurance products in order to augment the accessibility of insurance products and capitalize on the significance of financial inclusion. The signing ceremony was held at a hotel in Islamabad.

The consumers would benefit from innovative products as it renders financial security and financial well-being. Syed Rizwan Aziez, Head of Bancassurance, Jubilee Life Insurance, Mr. Khawar Saeed, President and CEO, Bank of Azad Jammu & Kashmir along with other senior executives and representatives of the company attended the signing ceremony.

Speaking at the occasion, Syed Rizwan Aziez, Head of Bancassurance, Jubilee Life Insurance said, “This Bancassurance ceremony would enhance strategic penetration of insurance products and subsequently also provide an opportunity to expand our product portfolio. We aim to complement existing bank products and also gain a foothold in potential markets. Bancassurance is ideal for the distribution of mass-market products and extend products to the clients as per their needs and values. This integration would also help in improving market presence and maximizing synergies”.

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Taking the opportunity, President and CEO of Bank of Azad Jammu & Kashmir Mr. Khawar Saeed emphasized on the importance of Bancassurance as a prominent step to serve the financial needs of its customers. He said, “Collaborating with Jubilee Life Insurance Company Limited is another step towards the expansion of our product portfolio, enhancement of our customer retention and integration of financial services tailored to the clientele’s needs. Furthermore, it will help in increasing value to our customers’ wealth management solutions and improve customer relations”.