TPL Insurance Insurtech Challenge 2021

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TPL Insurance is back with another exciting opportunity “Insurtech Challenge 2021” – a chance to take part in revolutionizing Pakistan’s Insurtech industry and get win rewards.

TPL Insurance offers a wide range of personal lines and commercial lines products including but not limited to Property, Marine, Engineering, Health, Auto, Bike, Home and Travel Insurance both on conventional as well as Shariah compliant Takaful model.

It is the first insurance company in Pakistan to sell general insurance products directly to the customer through TPL Insurance Mobile App, providing a complete range of innovative insurance solutions with a single click through the Mobile App which allows customers to buy insurance hassle free and get discounts on the market place on the app. 

What’s Insurtech Challenge 2021?

TPL Insurance’s ‘Insurtech Challenge 2021” is an inter-university case study competition that allows students to come up with innovative solutions to revolutionize Pakistan’s insurtech industry.

Innovate. Create. Play

Insurtech challenge is Pakistan’s first interuniversity case study competition to attract the students to get familiar with the insurance industry and its benefits. This challenge has been put forth by TPL Insurance for the first time in Pakistan to get in touch with the student body and educate them regarding insurtech products and its benefits while engaging them in a competition with their peers to win cash rewards up to Rs. 100,000/- The prize will be distributed equally among the team members. Winners will be contacted and announced through social media posts of TPL Insurance.

The challenge is for students to come up with exciting execution ideas for “INVENT THE ECOSYSTEM FOR THE FUTURE OF INSURANCE’. The winners will be the team that shares the most innovative idea to develop a strategy to spread awareness about insurance products and the app as well as develop a channel to increase acceptance for insurance in Pakistan. Students will not only win a reward but also the chance to become a part of the pilot run of the winning project.

For year’s Insurtech Challenge applications were received from students of several universities including IBA, IoBM, Habib University, Bahria University and Sindh Madarsatul Islam. 9 teams were shortlisted for the first round of the challenge which was held on 9th Aug 2021 where students presented their ideas. To assess the students on their ideas fairly, a judges panel was present from different departments of TPL Insurance including Strategy & Innovation, Marketing and IT-Software. Ideas were evaluated on Product ideation, marketing plan execution and understanding of the app.

Insurtech Challenge 2021 Round 2 and final round is scheduled on 27th Aug 2021, 7 teams have been shortlisted from IBA, IoBM and Habib University. Each team has been assigned a mentor from TPL Insurance who has years of professional experience in Insurtech to guide the students to execute their ideas better. The judge’s panel for the final round of the challenge comprises of executives from TPL Insurance which includes Chief Operating Officer, Chief Financial Officer, Head of Corporate Brand and Head of FIG (Financial Institution Groups).

The final round of Insurtech Challenge 2021 will be live streamed on official social media platforms of TPL Insurance. Anyone can join and view the ideas and presentation through TPL Insurance official social media pages including Facebook and LinkedIn, and Live polling will also be conducted so audience can vote for the best team ideas, these votes will impact the final selection of the winner.

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