In a significant move toward expanding financial inclusion and digital access to insurance in Pakistan, State Life Insurance Corporation of Pakistan (SLIC), the country’s largest life and health insurer, has entered into a strategic partnership with JS Bank, one of Pakistan’s fastest growing banking institutions. This collaboration aims to deliver a broad range of insurance products to individuals and families through JS Bank’s established branch network, under a bancassurance model.
The partnership is designed to merge the scale and trust of Pakistan’s public insurance provider with the efficiency and customer-centric agility of JS Bank’s private sector operations. This synergy is expected to simplify access to insurance services, especially for customers who have traditionally remained outside the formal financial ecosystem.
Through this collaboration, JS Bank customers will now be able to access SLIC’s diverse insurance offerings directly from JS Bank branches nationwide. This move allows policyholders to not only plan and secure their financial futures more effectively but also experience greater ease and convenience when managing their insurance needs.
The official agreement was signed during a ceremony held at JS Bank’s Head Office in Karachi. On the occasion, Mr. Shahid Iqbal Baloch, Executive Director of SLIC, remarked, “This partnership unites two of Pakistan’s leading institutions with a shared commitment to financial inclusion and protection across all segments of society while advancing Pakistan’s economic resilience.”
Echoing this sentiment, Mr. Atif Malik, Chief Operating Officer at JS Bank, emphasized the importance of financial security in broader economic wellbeing. “At JS Bank, we view financial protection as an essential part of overall financial wellness. Our collaboration with State Life enables us to extend this philosophy by making insurance more accessible to the communities we serve,” he said.
This strategic initiative also aligns with JS Bank’s vision to become a holistic financial services provider, leveraging its nationwide presence and robust mobile and internet banking platforms to deliver insurance services at scale. For State Life, the partnership enables it to tap into JS Bank’s modern banking infrastructure and enhance its distribution network, reaching more customers with timely and reliable insurance solutions.
State Life brings decades of expertise and market trust to the partnership, which is further enhanced by JS Bank’s innovative service delivery approach. By offering integrated solutions that combine banking, savings, and insurance products under one umbrella, the partnership aims to bridge protection gaps and promote long-term financial security for Pakistan’s diverse population.
As the financial landscape in Pakistan continues to digitize and evolve, collaborations such as this between established insurers and forward-thinking banks will play a crucial role in ensuring that critical services like insurance are within reach for all segments of society. The State Life-JS Bank alliance is a step in that direction—toward a more inclusive, secure, and digitally enabled financial future.