Analyst Briefing Session
1
Dated: 22nd May 2025
Business Updates
Our Insurance Market
Non-life insurance penetration in Pakistan is just 0.3% versus 1.6% in Emerging Asia and 7.1% globally presenting huge potential.
Digitization has contributed to higher insurance penetration in similar markets.
A marginal 0.3% increase in penetration represents a billion-dollar addition to market.
Total Addressable Market (TAM)
Pakistan Population - 240 million
SEC A SEC B SEC C SEC D +
Population TAM Urban (97.2m) & Rural (142.8m)
Total Monthly Income Potential (PKR)
50% of average income spent on insurance in developing countries
Annual Insurance Potential of TAM in (PKR)
12m
10,500b
12,600b
12,000b
108m
84m
36m
2,970b
603b
89b
Impact Market
1,512b
2,160b
1.5% 1% 0.5% 0.25%
Serviceable Obtainable Market (SOM)
1,058b
SEC A SEC B SEC C SEC D +
Urban Insurance Potential - TAM (PKR)
252b 24b
1,750b
794b
1,944b
Digital Awareness 90% 75% 50% 30%
Potential Aware Insurance Segment
126b 7b
Potential of targeted cities - SOM
(top 10 cities of Pakistan)
71b
980b
445b
3b
Serviceable Obtainable Market
Key Focus areas for Serviceable markets
The Need: Market challenges that we want to resolve;
Reliance on intermediaries, limited cross sales and focus on customer servicing by intermediaries.
No direct-to-consumer channel; insurance remains a push product.
Manual, time consuming claims processing and settlement.
Generalized Products & Pricing penalizing low-risk customers.
Innovative Products:
Titania
Carculator
Platinum Drive
Zero Depreciation
Solar Insurance
Pet Insurance
Gap Insurance
Mobile Insurance
Motorway Insurance & others
Accessibility:
Banks
Dealerships
Digital Alliances & Integrations
Clubs & Corporate partnerships
Use of Technology:
Digital customer onboarding
Mobile app for end to end servicing
Multi channel contact center
Integrated CRM to improve customer churn
Diversification Across the Board
Channel Enrichment
Existing channels are being explored for new avenues;
Increasing number of banks & share in each bank
Expanding to Tier-II cities across all auto dealerships
Enhancing portfolios with brokers and agents
Increasing digital alliances
Channel Development
New channels being explored including;
Digital Alliances with telecoms, fintech, digital wallets, e-commerce platforms etc.
Brokers
Auto manufacturers & dealers
Travel partners
Corporate agents for commercial lines segment
Product Enrichment
New products are being introduced;
Guarantees with auto manufacturers
Travel guarantee business for travel agents
Bank assets insurance
Cyber, Director's liability, Professional Indemnity for corporate customers
Crop, Tractor & Livestock Insurance
Titania for high networth individuals
PORTFOLIO PERFORMANCE - Diversification
Premium Distribution Across Pakistan
Peshawar
16.2%
Islamabad
0.5%
Gujranwala
0.05%
Quetta
16.6%
Lahore
3.2%
Faisalabad
2.7%
Multan
58%
Karachi
1.6%
Hyderabad
1.1%
2024 Premiums Underwritten
3%
4%
1%
11%
35%
17%
29%
Non-Motor Initiatives
CYBER INSURANCE - collaborating with Cyber Security firms, developing reinsurance capacity - PKR 19m D&O LIABILITY - creating awareness and promoting the product with 13 policies - PKR 16m PROFESSIONAL INDEMNITY - worked on niche product and issued 12 policies amounting to PKR 29.6m ATM CASH WITHDRAWAL - issued to banking customers amounting to PKR 20.2m
PMEX GOLD - covered Gold Lockers for PMEX at 7 locations as lead insurer - PKR 16m MOTOR GUARANTEE - crossed 650 guarantees with 8 manufacturers - PKR 26m
PERFORMANCE BOND- a new segment for TPLI with 33 bonds issued at a premium of PKR 3.2m PRODUCT LIABILITY - a new segment for TPLI with 14 policies issued at a premium of PKR 11.7m Following key initiative are in progress;
TRAVEL BROKERAGE - engaged with Tune protect to issue travel policies with international airlines - PKR 200m+ MORTGAGE FINANCE INSURANCE - engaged with PMRC to cover initial deposit financing thru banks - PKR 150m+
Claim Savings - (PKR 419m in 2024)
Motor Claim Savings -
369.97 million
Commercial Line Savings
Claims repudiated by Commercial Claims team
19.59 M 16.17 M 17.01 M 90.31 M 22.74 MMarine RS.13.5 M
Fidelity Guarantee RS.4.5 M
Rs. 18 M
This does not include the claim settlement revisions
26.89 M 12.29 M 164.98 MHealth Savings
Saved PKR. 34,550,490/- against the deductions while adjudicating the health claims in terms of room
difference, visiting charges, non-
medical item's, entitled difference etc. Deduction made in 2,604 claims
Efficiency through technology
Use of AI for Efficiency
Speech Analytics Module -Live
Conversational AI Doctor - In progress
Conversational AI Agent for -
Cross sell & Up sell
Compliant management Data entry
AI based settlements for-
Auto claims Crop claims Livestock claims
Productivity Enhancements
Project management - Jira (Live)
Integrated CRM - Hubspot (marketing, sales & service modules - in progress)
Jotforms (tool to digitize simple processes- Live)
Office 365 (for efficient work & data management - in progress)
Delivering Impact through Insurance
LIVESTOCK INSURANCE -
insured over 17,000 animals during 2024 - PKR 17m (Claims: 116: PKR 9.6m)
AREA YIELD CROP / CLIS -
insured 6,500 farmers during the year - PKR 33.6m (Claims: 16 - PKR 17.5m)
COMMUNITY HEALTH INSURANCE -
covered 13,570 lives under the program - PKR 18m TRACTOR INSURANCE -
engaged with 3 banks and covered 277 tractors - PKR 13m MOTOR GUARANTEE -
- crossed 650 guarantees with 8 manufacturers - PKR 25m BIKE INSURNACE -
2800+ bikes insured i.e. 3X growth - PKR 19m (Claims: 165 - PKR 14.2m)
MORTGAGE FINANCE INSURANCE -
engaged with PMRC to cover initial deposit financing thru banks - PKR 15m
12
Reinsurers / Re-Takaful treaty (2025)
Conventional Reinsurers | Shar e | Rating |
Hannover Re - Leader | 25 | AA - by S & P |
Sava Re | 15 | A by A.M Best |
Trust Re (BMI) | 10 | A - by A.M Best |
Labuan Re | 5 | A - by A.M Best |
Oman Re | 5 | B by A.M Best |
Pak Re | 40 | A by JCR |
Total | 100 |
Retakaful Operators | Shar e | Rating |
Labuan Re - Leader | 35 | A - by A.M Best |
Saudi Re (New Reins) | 15 | A- by S & P |
Singapore Re | 10 | A by A.M Best |
Kenya Re | 5 | B by A.M Best |
Pak Re | 35% | A by JCR |
Total | 100 |
Our 95% treaty protection is through "A" rated reinsurers, which is significantly better than the SECP directive requiring a minimum of 80% "A" rated reinsurers.
In 2025 renewals, Saudi Re (rated A by S&P) has been included in our panel.
Conventional treaty renewed on same terms and limits as last year (Fire - PKR 2.4b, Engineering - PKR 1b, Marine - 0.9b, Misc. - 50m)
Takaful treaty renewed with 1% increase in commission and 14% increase in Fire & Eng. Limits and 100% increase in Marine limits (Fire - PKR 1.4b, Eng. - PKR 0.8b, Marine - PKR 0.8b, Misc. - 100m)
Products
Products
Products
Products
TITANIA - KEY FEATURES
Your Exclusive Concierge
Dedicated Relationship Managers to handle all customer's insurance needs
Tailor-Made Protection
Personalized insurance plans covering your net worth
Luxury Meets Service
A Premium Customer Experience tailored for high net worth clients
Exclusive Rates &
Protection
Enjoy special premium rates and swift policy issuance.
Luxury Beyond Coverage
Premium onboarding , adding an extra touch of exclusivity to your Titania experience.
Marketing Updates
T I TA N IA
Motor Vehicle
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Home
(021) lT1 000 301 ' https://www.tpIinsurance.com
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