KARACHI: Pakistan’s top financial regulator has issued the country’s first-ever digital-only license to a non-life insurer, allowing Karachi-based Digi Insurance Limited to operate entirely without a physical branch network, the Securities and Exchange Commission of Pakistan (SECP) said on Tuesday.
The license enables Digi Insurance to sell general insurance products — such as motor, health and travel coverage — through a fully digital platform, with no in-person interaction or branch infrastructure required.
The approval marks a regulatory milestone for Pakistan’s insurance industry as it seeks to modernize and improve accessibility.
“This development reflects SECP’s broader objective of enabling financial inclusion through responsible innovation and encouraging customer-centric, tech-enabled insurance solutions,” the commission said in a statement.
The SECP said the approval was granted under a revised regulatory framework aimed at supporting new business models and encouraging the use of technology in insurance distribution, policy issuance and claims processing.
The Pakistani financial regulator said it expects the move to promote competition, expand access to underserved markets and encourage further innovation across the sector.
It also maintained digital models offer a scalable, cost-effective alternative that could help close Pakistan’s insurance gap.
