Silkbank and TPL Insurance – Launch of All In One Current Account

Karachi, 29 June 2022

As part of providing tailored solutions and unique value added features for our customers, Silkbank has launched All-in-One Current Account offering complimentary insurance coverages in collaboration with TPL Insurance as an insurance solution provider.

To mark the occasion, an MoU signing ceremony was held at the Silkbank Head Office, Karachi on 29th June 2022. Present at the ceremony from Silkbank were Vaqar Hussain Khan – Head of Banc assurance, Ali Kashif Rizvi – Head of Treasury and Financial Institutions and Arsalan Raza – Product Manager Deposits. Present from TPL Insurance were, Aurangzeb Javed Siddiqui – Head of Financial Institutions Group (FIG), and Mansoor Iqbal – Manager (FIG).

All-in-One Current Account is tailored to be an ultimate power packed current account that provides various complimentary protections and transactional benefits for their customers. Unlike most retail based banks which are not offering many value added features to its current account customers, this alliance will allow individuals maintaining an average balance of Rs. 100,000 and above with Silkbank to avail FOC value added features such as health, life and travel insurance via TPL Insurance. Being digitized, it would be the first of its kind on current accounts with fastest claim processing.

Speaking on the occasion, Mr. Aurangzeb J. Siddiqui – Head of FIG, TPL Insurance said, “Through our collaboration with Silkbank, our focus is to reach large audiences to build awareness and usage of our innovative insurance solutions. Moreover, through its Insurtech platforms, TPL Insurance intends to provide Silkbank customers with the experience of real time & hassle-free insurance and claim servicing.”

Talking about the initiative, Mr. Anwar ul Haq Majeed – Head of Branch Banking & Consumer Assets, Silkbank said, “We are excited to start this new journey with TPL Insurance by adding innovative and rewarding solutions for our customers. This collaboration will enable our customers to opt for complimentary insurance coverages while enjoying several free of charge transactional benefits. Silkbank Limited is committed to continue strengthen its retail product suit with laser sharp focus on service delivery and innovative products”

About Silkbank

Silkbank is engaged in providing financial services via 111 branches located in 29 cities throughout the country and offers a varied range of retail, consumer and corporate products. Silkbank Limited is committed to strive for a better understanding of their customer needs, offering them an array of premium, unique and innovative lifestyle products for an inspired living.

About TPL Insurance

TPL Insurance is the first insurance company in Pakistan to sell general insurance products directly to the consumer. Since its launch in 2005, the company has grown from strength-to-strength and is now the leading Insurtech player in Pakistan. TPL Insurance specializes in tech-driven innovative solutions and digitally integrated systems to provide hassle-free customer experiences and round-the-clock services to 300K+ customers. As an AA rated insurer, TPL Insurance is committed to the development of commercial and personal line portfolios by exploring new channels, expanding existing relationships, and maintaining higher risk retentions.

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