Neem, a leading embedded finance platform, has partnered with EFU Life Assurance Ltd., one of Pakistan’s premier life insurance providers, to revolutionize the insurance landscape through embedded payments. This strategic collaboration aims to make insurance more accessible, affordable, and seamless for underbanked and digitally native populations.
Neem and EFU Life have partnered to transform the insurance landscape in Pakistan through the integration of embedded digital payments. By leveraging Neem’s low-code, scalable infrastructure, EFU Life has digitized its premium collection process, making it faster, more secure, and more accessible for customers.
This collaboration is not only improving operational efficiency but also laying the groundwork for a more inclusive insurance experience. A key focus of the partnership is integrating EFU Life’s Takaful (Islamic insurance) offerings into Neem Paymenow, a Shariah-compliant earned wage access platform, allowing salaried individuals to conveniently access and pay for life, health, and accident coverage at the point of salary disbursement.
The initiative addresses longstanding industry challenges, such as low insurance penetration and reliance on cash-based systems, by embedding a digital payments layer that simplifies how premiums are collected and claims are paid. EFU Life’s adoption of Neem’s Payment Button has enabled digital payments via cards, wallets, bank transfers, and 1Bill outlets, along with tools like smart payment links and real-time insights for agents and teams.
Additionally, the two companies are building a white-labeled wallet system to support premium payments, top-ups, claims disbursement, and loyalty rewards. Together, Neem and EFU Life are pioneering a customer-centric, digitally enabled insurance ecosystem, with ambitions to expand these innovations across Pakistan’s broader insurance sector.