TPL Life, Pakistan’s leading Insurtech, on a mission to make insurance simple, accessible and easy to buy

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Interview with Faisal Abbasi, CEO, TPL Life

  1. Tell us about yourself and your journey to being the CEO of TPL Life?

I set out to become an electrical engineer, but along the way got drawn to the Actuarial profession, due to my love for numbers. That was the turning point for me joining the life insurance industry in 1997. 

My 24 year career, so far, has been a package of diversified experiences including Actuarial Consultancy, Banking and Life Insurance.  My multifaceted experience in all critical areas of business including Distribution, Underwriting, Product Development, Marketing, Operations and Training helped me a lot in shaping up TPL Life as a trendsetting company in its domain.

The journey with TPL Life started in May 2016 as its first employee.  It has been exciting and full of action to say the least.  Being the first true Insurtech in the country comes with its own challenges.  Both consumers and service providers were used to certain type of services and practices.  Coming up with new concepts, processes and creating acceptability while disrupting the market was not an easy task.

By the grace of Almighty TPL Life is now set to become a path breaking entity which offers unique and never-experienced-before propositions for public at large.  We are here to ensure insurance protection reaches everyone and should not only be limited to a certain consumer segment.

  1. TPL Life is a relatively new Company in the Life Insurance market. What sets the Company and Services apart from the rest?

At TPL Life, we continuously strive to introduce groundbreaking customer-centric ideas and products.  This is evident from our list of ‘firsts’: an example being our Covid Protection Plan, which was the first in this market, later replicated by the competition.

Pakistan’s insurance landscape is ripe for digital solutions and diversification in retail product offerings.  TPL Life is poised to address these gaps in our market, as we love to challenge ourselves and the status quo!

  1. We’d like to know more about the premise behind TPL Life being, and I quote – ‘the easiest company to deal with’?

During the early days, we did a fair amount of consumer and market research with respect to the insurance industry.  The overwhelming response was that people wanted easier protocols and processes from their insurance companies. 

So we built TPL Life around a central ethos of being the easiest company to talk to and deal with.  We want this mindset to be an integral part of all our processes and customer dealings, breaking a general negative perception about dealing with insurance companies. 

Furthermore, technology is bridging the gap between consumers and providers.  Insurance industry also has to be up there when it comes to fulfilling expectations and have a satisfactory customer experience. 

To that end, we are continuously tweaking our digital assets with new service features giving our customers complete control over their choices.  Our in-app usage based insurance offering allows customer to turn on their insurance and switch it off as per their choice and get charged for only the time their insurance was on.

  1. With several options for insurance coverage in the market, why should one have TPL Life cover in hand?

As a consumer, if you are looking for customized life and health insurance solutions, smart operations and 24/7 availability then you should consider TPL Life as your primary service provider.

Insurance is no more a legacy product. It is getting smarter with the consumer. With instant gratification being the new norm, this generation is shifting from long term assets to short term commitments, and there’s nothing better than a short term insurance product covering those liabilities or risks. 

  1. About 52% of Pakistan’s population is under the age of 25. Why should they spend on your products and services? What advice would you give to this generation in terms of choosing insurance as a risk hedging tool.     

With passing times, unfortunately, the health profile of our population is deteriorating.  Cardiac issues, diabetes and cancer is reported to be setting in earlier than they used to be.  I have personally seen people in their 30s diagnosed with diabetic conditions leading to heart related complications.   These alarming health complications demand our youth to be vary of complications such situations bring.

So you have to have life and health insurance, starting from your late 20s or early 30s.  Timely arrangements of health and life insurance not only saves hassle later on, but also enables you to get coverage at a cheaper price.  The younger you are, the cheaper your current and future rates would be. 

  1. You recently shared that TPL Life crossed its 1 billion premium mark. What made you and the team achieve this in a short span of time, that too during a Pandemic?

With well-coordinated teamwork and dedication from our employees, we clocked our first billion in gross premium in 2020.  Ground situation was tough, retail market was literally at halt during the pandemic, but our frontend teams showed complete resolve and determination.

Being digital helped us a lot in our operations and acquisition processes. We did not stop for a second, our call center services were continuously up and operations were functioning remotely without compromising on pace. Being out there for our customers was our prime focus during the lockdown.

  1. Covid19 has changed the way people and businesses function, tell us the impact, negative and positive the pandemic brought about at your Company?

I always say that all situations are a learning opportunity, so I don’t dwell on the negatives.

But the pandemic did bring some positives. We learnt to operate remotely while maintaining the same efficiency and customer service levels. 

Developing an eye for unforeseeable events (and dealing with them quickly) was one skill which we, as leaders, were forced to develop if we wanted to survive in a pandemic hit economy. 

With enhanced coordination, we were adept at coping with all the challenges that were thrown our way.  Kudos to our team who also rose to the challenge and adapted their working style as per the requirements of time.

  1. Where do you see TPL Life in the next 5 and 10 years?

I clearly see ourselves as a frontrunner in Insurtech with a sizeable customer base, becoming a company known for its innovation, smart solutions and customer centric approach.

  1. What would you say to people who choose to stay away from insurance products?

No matter how hard you ignore or downplay insurance, at least once in your life you (or your loved ones) will feel “if we had insurance, the situation would be different’.  Trust me, that’s not a good zone to be in.  Avoid it, get insurance cover for yourself and for your loved ones. Better to have it and not need it, than to need it and not have it.

  1. What in your opinion, is TPL Life’s biggest achievement to date?

Our biggest achievement is our portfolio of more than 700k covered lives, who are now availing our services. This includes more than 150k customers belonging to segments which are traditionally overlooked, and are a focus of private and public financial inclusion programmes.

We have helped thousands of families with their medical emergencies and financial assistance when their loved ones have passed away.Nothing is more gratifying than seeing children continuing their education and a household running as usual after they are hit by a tragedy or medical situation.  We want to remain their bridge to prosperity forever.

‘Oye Moti’ tackles a growing social problem faced by Pakistani women.

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Lahore (Muhammad Yasir) Oye Moti, The series is based around the theme of the body shaming faced by Pakistani women. Each episode features a different story of a woman faced with body/fat shaming and how she overcomes the obstacles of society’s perception of her worth. It is noteworthy that each story has a female protagonist who is strong willed and achieves her goals.

The issue of fat shaming and body shaming is gaining traction as a growing social problem in Pakistan. The series aims to not only educate the audience on the issue but also normalize the acceptance of different kinds of beauty standards as opposed to a singular one.

The stellar cast includes Hina Dilpazir, Javed Sheikh, Hajra Yamin, Syed Jibran, Sabina Farooq and Muhammad Osama so far.

The show airs every Thursday at 8 pm on Express Entertainment. It is conceptualized by Mukhtar Ahmed, written by Sajjad Haider Zaidi and directed by Muhammad Iftikhar Iffi. The show is produced by Goldbridge Media.

Pakistan’s First Urdu OTT Platform ‘UrduFlix’ is Now Live!

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Lahore (Muhammad Yasir) After months of waiting and speculation, Pakistan’s first Urdu OTT platform is officially live for download for viewers on Google Play Store, Apple App Store, and Roku TV now.

‘UrduFlix’ will provide viewers with access to original Urdu films, series, documentaries, cartoons, and Urdu dubbed Turkish dramas among other exclusively made shows for the platform. The first few shows on the platform would include the Mashal Khan starter Lifafa Dayaan, Hareem Shah starrer Raaz with a lot more to come. As for the first exclusively available show going up on the platform with its launch is – ‘Dulhan Aur 1 Raat’ featuring Alizeh Shah in the lead.

The launch of UrduFlix is how Emax Media, the internationally acclaimed digital network, has forayed into the on-demand streaming segment, offering original and exclusive content in Urdu worldwide.

Likee Shares Five Easy Live Streaming Tips for Beginners

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Lahore (Muhammad Yasir) Likee, a global short video platform with headquarters in Singapore, and now one of the top five most downloaded apps in the Google Play Store shares five easy tips for beginners in Pakistan to livestream over the internet.

In the past there has been a lot of positive sentiment towards livestreaming. In fact, according to StreamElements, internet users watched 1.1 billion hours of live video in 2019 and according to Go-Global, by the end of 2020, livestreaming was expected to account for 82% of all internet traffic.

Today however, livestreaming is thriving and the number of users has increased exponentially due to video-based business communication, live entertainment, online workout sessions, training and learning courses, and much more. It opens up a wide range of opportunities and possibilities for anyone that has a phone with a camera and is connected to the internet.

In terms of opportunities, live streaming offers people the ability to connect and interact with those that have similar interests, ideas, inspirations, aspirations and more – all in real-time. This enables more authentic interaction and communication whilst giving people the opportunity to form meaningful relationships and share experiences with each other.

The tips shared by Likee are universal. It doesn’t just work on Likee, but any social media platform that offers livestreaming capabilities. However, for beginners, the following livestreaming tips will help them start their livestreaming content creation journey.

Prepare the Necessary Equipment

Before live streaming, users should prepare the equipment that supports the quality of the live stream. Likee suggests to use a tripod to hold any smartphone so it can be more stable and that content creators don’t get tired of holding it for long periods of time.

Lighting is also very important. Live streamers can use natural sunlight or even a ring light in an indoor area for suitable lighting conditions. Good lighting really affects the quality of the video captured by smartphones. In addition, Likee also suggests to make sure the lens of the smartphone camera used is clean and that the internet connection used is stable.

Select a Topic of Interest and Plan Out the Key Talking Points

To ensure that the communication flows smoothly, content creators must carefully think and determine the topic of discussion, however it needs to be something that they understand and enjoy. Likee suggests to read a variety of articles, threads on forums and discussions on various platforms to identify them.

It’s a good idea for content creators to research and find accurate information that can support the conversation. Live streamers should also not forget to write down all the important points they want to convey so that nothing is missed and that the livestream flows well.

Interact with the audience

Preferably when users start a live streaming session, they can start by greeting the audience in attendance and thank them for taking the time to watch. In the middle or towards the end of the live stream, Likee encourages live streamers to read the various comments that come in and even answer the questions asked.

As much as possible, content creators should respond as a token of appreciation to the audience who really followed the conversation. Questions can also be created for the audience to answer to make it more interactive.

Interaction with the audience is important so that the audience does not get bored or leave the live stream.

Invite Friends or Invite Other Speakers

Likee encourages content creators to collaborate with friends or other speakers on doing live streaming from time to time. In addition to being more engaging and relevant, this collaboration also opens up opportunities for mutual promotion and exposure to each other’s audience on their respective platforms.

Choosing the Right Platform

As mentioned before, there are currently a variety of platforms that allow for live streaming. Content creators should choose the platform that is right for them. Of course, there are many application characteristics that they can consider, such as the popularity and features of the platform such as ‘Beauty Filters’ or ‘Comic Filters’ that uses software to enhance visual attractiveness, create more visually stunning content and much more.

With over 100 million monthly active users worldwide, Likee is becoming the short video creation platform of choice in Pakistan. Users can create and capture their own memories and special moments on the app, with the help of its extensive range of face filters and special effects. Likee allows its users to express themselves creatively and foster meaningful connections, within a global online community.

WHO Framework Convention on Tobacco Control (FCTC) meeting

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Coalition of Asia Pacific Tobacco Harm Reduction Advocates Says WHO Recommended Ban on Vaping Will Only Create More Smokers

World Health organization Framework Convention on Tobacco Control (FCTC) meeting, delayed last year, could be the venue to push a global vape ban in November

Lahore (Muhammad Yasir) Millions of vapers across Asia could feel forced to return to smoking if a proposal from the World Health Organization (WHO) way on e-cigarettes and other smokeless products is passed by lawmakers.

A new report published by WHO’s tobacco regulatory committee recommends nearly all vapes be banned, especially so-called ‘open’ systems. Not regulated – but banned. It also demands the same restrictions on cigarettes be applied to other emerging products, presumably so smokers can never know about them.

In the open system, which is the preferred way of vaping for many people across Asia, the consumer manually refills the liquid to be vaporized. According to the WHO, this system allows for the addition of substances which could make the product more harmful.

“The latest recommendation from WHO defies all logic,” said Nancy Loucas, the Executive Coordinator of CAPHRA. “If countries adopt the recommendation to ban open-system vapes, years of hard work by ex-smokers as well as good public policy will be rendered meaningless.”

“Let there be no doubt: vapers will then go back to cigarettes, which is the worst possible outcome.”  

“Banning any product is not the answer, nor is applying blanket cigarette rules to all emerging products. Bans encourage the black market. Bans do not allow for proper consumer protection,” Loucas said.

CAPHRA is calling on governments to adopt evidence-based, common sense regulations for all vaping products.

“Just last week, the UK’s leading health agency, Public Health England (PHE), concluded that nicotine vaping products were the most popular aid used by smokers trying to quit,” Loucas said.

“On the one hand, you have a local public health agency looking into the evidence and ways in which smokers can be encouraged to quit smoking and vape, and on the other you have a global agency stuck in their old ways of believing prohibition is the answer to everything.”

“WHO’s attitude to e-cigarettes has been devastating for millions and millions of smokers and vapers alike all around the world,” Loucas said. 

CAPHRA said it’s only through regulating products can vapers remain protected, encouraged to stop smoking, and as a result, achieve good public health outcomes.

 

Engro Foundation, PPAF to launch PKR 70 million livelihood initiative

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Engro Foundation, PPAF to launch PKR 70 million livelihood initiative under Ehsaas Amdan Program

Lahore (Muhammad Yasir)  As part of the PKR 1 billion Hussain Dawood Pledge, Engro Foundation – the social investment arm of Engro Corporation – has signed a Memorandum of Understanding (MoU) with Pakistan Poverty Alleviation Fund (PPAF) to contribute PKR 70 million to the Ehsaas Amdan Program.

As part of the commitment, Engro Foundation will be designing a livelihood program, focused on smallholder farmers in the livestock sector. This collaboration with PPAF, the lead implementing agency for the Ehsaas Amdan program, will support the Government of Pakistan’s poverty alleviation program for deserving families, whose incomes have been adversely affected by the COVID-19 pandemic.

Under the Ehsaas Amdan program, assets are given to the deserving to enable them to graduate out of poverty. These assets include livestock (goats, cows, buffaloes and poultry), agricultural inputs, body of Chingchi rickshaws, and inputs for small retail outlets and small enterprises etc. The program is being implemented in 375 union councils of 23 poorest districts across four provinces of Pakistan.

According to Ghias Khan, President & CEO of Engro Corporation and Trustee of Engro Foundation, “The economic implications of COVID-19 have pushed millions into poverty and resulted in up to 3 million job losses in Pakistan. We hope that our humble contribution and collaboration with PPAF will deliver positive change through the government’s Ehsaas program, which has been globally recognized as a model poverty reduction program.”

Qazi Azmat Isa, CEO, PPAF said “Engro’s commitment to the Ehsaas Amdan Programme is commendable, as it will improve opportunities for women in rural areas. This initiative is a steppingstone to creating sustainable income opportunities for the poorest of the poor. Hundreds of underprivileged women have already benefitted from this programme, and this joint venture will enable us to extend its outreach further.”   

Under the PKR 1 billion pledge made by Chairman Engro Corporation Hussain Dawood and Dawood Hercules Corporation, COVID-19 relief efforts are being supported in services, kind and cash on multiple fronts, including:

  • disease prevention, with a major focus on testing and diagnostics;
  • protecting and enabling healthcare practitioners and other key workers, who are at the frontline of the fight against this pandemic;
  • enabling patient care and facilities; and,
  • bolstering livelihoods and sustenance of the most deserving in society.

Porto Montenegro’s BOKA Place – A Pioneering Urban-Inspired Residential Neighborhood!

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Lahore (Muhammad Yasir) Following the surge of interest post the recent launch of its CBIP program in Pakistan, Porto Montenegro, one of the flagship international waterfront developments in Montenegro, is delighted to reveal their much-awaited new neighborhood, BOKA Place. Aimed at the discerning international residents, BOKA Place offers relaxed living and an exceptional Mediterranean lifestyle at one of the most sophisticated waterfront addresses in Montenegro – encompassing a thriving residential community and enticing gathering spaces in a stunning seaside location.

BOKA Place promises to be an excellent investment opportunity for Pakistanis as well as a world class holiday destination for people travelling to Europe. Spread across six buildings and designed around a central square, Boka Place will include a mix of hotel-managed and private apartments, penthouses and duplexes, catering to the needs of a variety of purchasers. This new, sought-after residential hub, located at the enviable location at the heart of Porto Montenegro, allows for an immediate access to one of the finest Mediterranean superyacht marinas and its superyachts, the striking waters of the bay of Kotor beyond (Montenegro’s hottest destination) and the vibrancy of this contemporary, urban-inspired community…

Buyers of the managed residences’ will be eligible to participate in Montenegro’s Citizenship by Investment Program me, the country’s proactive scheme to enhance future development across Montenegro and further appealing benefits to potential real estate buyers. With a minimum investment of €450,000 and a €100,000 donation to a Montenegrin government development fund, successful applicants can be granted full citizenship within six months from submitting their full application.

 “Boka Place is an exceptional and exciting new milestone within Porto Montenegro where we are dedicated to transforming the traditional concept of living by attracting people from all over the world who are united in their desire to live a life less ordinary. We designed Boka Place as a direct response to the needs of interested buyers. It provides a more affordable alternative for discerning buyers who want to be a part of the Porto Montenegro community without having to compromise on quality or amenities.  Buying a managed residence at Boka Place gives also the rare and exciting chance to participate in the scheme and gain Montenegrin citizenship” said David Margason, the General Manager of Porto Montenegro.

Situated in the UNESCO protected Bay of Kotor, Porto Montenegro houses a full-service Marina and a luxury residential village offering premium real estate, integrating into a spectacular lifestyle destination. Apart from being an outstanding holiday destination in the heart of Europe, other benefits of a Montenegrin Citizenship include: global mobility with access to 124 nations visa-free, current NATO member and candidate country for future expansion of the EU, expected by 2025.

Digital storytelling takes new turn … Now in Pakistan

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NUT Blogger (MAD)

Storytelling has different culture in different parts of the world geographically. The tradition of storytelling starts from Greek civilization where it was considered an art and the orators had special status in society at that time. The Greek mythology is full of this art.

In our land (Pakistan) we can say it started from Indo-Aryan and Iranian mythology in the shape of various folklores while in Punjab Heer Waris Shah, known for its literary and cultural value, is the notable and substantive example of storytelling art.

With the advent of IT revolution, storytelling is taking a new turn in all fields of life, especially in educational and digital world where a new generation has become compatible with click-and-call culture.

Keeping in view the above changes in our social setup, the Centre for Excellence in Journalism (CEJ) and RINSTRA Technologies have signed a MoU with Pakistan for educational and digital storytelling skills development.

The agreement would enable digital skills through interactive workshops, seminars, and courses, with RINSTRA providing its state-of-the-art platform for digital documentary film fests and theme-based video competitions.

Both the organisations will work on improving digital storytelling techniques and creative thinking in students, helping them look at issues and challenges around them from a narrative perspective.

The organizations were also agreed to create research opportunities in the space of MediaTech.

Pakistan-Rinstra joint venture will help students test their digital storytelling ideas and creative expressions with a hope to generate new ideas around social challenges and economic opportunities through content competitions and documentary film festivals. Through this collaboration, RINSTRA will create short-form storytelling techniques i e movies, dramas, music videos, theater, documentaries and videos for RINSTRA and other digital platforms. RINSTRA will be the gateway for Pakistani content and talent to the local and international media markets and digital platforms.

The state-of-the-art RINSTRA platform allows content creators to discover, create, showcase, and monetize their content creation and creative pursuits.

The organisation provides entrepreneurship opportunities to emerging and established content creators and film makers in Pakistan and beyond. RINSTRA gives content creators access to a large Pakistani community around the globe, and it has been able to create a unique platform that offers dramas and films, while enabling users to generate their own content on the same platform.

It also has a feature for Content Competition where, more than 100 academic institutions in the country are competing on various thematic areas.

The fest feature of the application has provided some of the leading Film Festivals to partner with RINSTRA for digital viewing of their films and documentaries.

This has created an unprecedented experience for viewers in the country. Creative and independent content with premier shows and films can be accessed on RINSTRA by visiting their website.

PSL 2021 postponed after six players test positive

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Lahore (NUT Desk) The Pakistan Cricket Board (PCB) has announced to postpone the sixth edition of the Pakistan Super League for an indefinite period after several players tested COVID-19 positive.

The PCB, in a statement, said that following a meeting with the team owners and considering the health and wellbeing of all participants is paramount, it has been decided to postpone the PSL 6 with immediate effect

The decision was made after seven cases were reported in the competition, which had started on 20 February.

“The PCB, as an immediate step, will focus on the safe and secure passage of all participants, and arrange repeat PCR tests, vaccines and isolation facilities to the six participating sides,” it added.

PCB Chief Executive Wasim Khan will hold a media conference at the National Stadium at 3pm to provide further updates in this regard.

COVID-19 vaccination

The PCB has made arrangement s for the vaccination of the officials and players at the hotel. According to details, Chinese Sinopharm vaccine being offered to nearly 300  officials associated with the PSL.

SOP violations

The PCB has been blamed for failing to ensure a secure environment during the tournament as there were numerous violations of the bio-secure bubble.

 

Google vows to stop tracking individual browsing for ads

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Lahore (NUT Desk) Google pledged to steer clear of tracking individual online activity when it begins implementing a new system for targeting ads without the use of so-called “cookies.”

The internet giant´s widely used Chrome browser this month will begin testing an alternative to the tracking practice that it believes could improve online privacy while still enabling advertisers to serve up relevant messages.

“We´re making explicit that once third-party cookies are phased out, we will not build alternate identifiers to track individuals as they browse across the web, nor will we use them in our products,” ads privacy and trust product management director David Temkin said in a blog post.
“Advances in aggregation, anonymization, and on-device process and other privacy-preserving technologies offer a clear path to replacing individual identifiers.”

The move comes with Google hammered by critics over user privacy, and increased scrutiny of privacy and protecting people´s data rights.

Growing fear of cookie-tracking has prompted support for internet rights legislation such as GDPR in Europe. Temkin described the new Google system as “privacy-preserving… while still delivering results for advertisers and publishers.”

Safari and Firefox browsers have already done away with third-party cookies, but they are still used at the world´s most popular browser, Chrome.

Chrome accounted for 63 percent of the global browser market last year, according to StatCounter. Last month, Google unveiled the results of tests showing an alternative to cookies called Federated Learning of Cohorts (FLoC) which identifies groups of people with common interests without individualized tracking. Some businesses have objected to the Google plan claiming it will force more advertisers into its “walled garden.”