CDC and IAP Sign MoU for Life Insurance

A Central Depository Company of Pakistan Limited (CDC) securely holds and manages securities in electronic form, facilitating their transfer and settlement while reducing risks. It enhances efficiency in financial markets by ensuring transparent record-keeping and eliminating physical certificates. Likewise, The Insurance Association of Pakistan (IAP) represents insurers, promoting industry growth, ethical practices, and regulatory compliance while enhancing standards and stakeholder collaboration.

The Central Depository Company of Pakistan Limited (CDCPL) and the Insurance Association of Pakistan (IAP) have signed an MoU to launch the Life Insurance Policy Finder, aimed at helping policyholders and beneficiaries locate life insurance policies. Supported by SECP, driven by IAP, and powered by CDC, this initiative enhances accessibility and transparency while addressing unclaimed policies due to a lack of awareness.

Speaking on the occasion, Mr. Badiuddin Akber emphasized that this initiative is a major advancement in modernizing Pakistan’s life insurance sector. Aligned with CDC’s vision, it leverages technology to enhance customer service, improve accessibility, and streamline operations in the country’s business environment.