Jubilee Life Insurance and Daewoo Express Join Hands to Introduce Insurance Protection for PassengersJuly 17, 2023
Lahore, July 17, 2023: Jubilee Life Insurance, Pakistan’s largest private sector insurance company, and Daewoo Express, the country’s premier transportation service provider, are pleased to announce a one-of-a-kind strategic partnership offering insurance coverage to Daewoo passengers.
Daewoo Express serves over 6 million passengers annually, primarily in the age range of 25 to 35 years. This insurance product is specifically designed to address the unforeseen risks associated with accidents during transit. Considering that insurance penetration in Pakistan is less than 1 per cent, this key collaboration aims to provide a sense of security and well-being to all Daewoo Express passengers. Once a ticket is issued, the insurance automatically comes into effect and remains valid throughout the passenger’s journey. The comprehensive benefits of the policy include coverage for accidental death, disability, and medical expenses.
Speaking on the occasion, Javed Ahmed, Managing Director and Chief Executive Officer, Jubilee Life Insurance said, “We are delighted to partner with Daewoo Express to introduce this innovative insurance policy for their passengers. At Jubilee Life Insurance, we believe in safeguarding lives and empowering individuals with financial protection. Through this collaboration, we aim to offer convenient and reliable insurance coverage to the passengers, ensuring their well-being during their travels across the country.”
Faisal Siddiqui, CEO – Daewoo Express, expressed his enthusiasm for the partnership, stating, “As a customer-centric organization, Daewoo has always strived to go beyond expectations in delivering superior services. We are excited to collaborate with Jubilee Life Insurance to introduce this unique insurance policy, which aligns perfectly with our commitment to passenger safety and well-being. This joint endeavor will further enhance our passengers’ experience, making their journeys more secure and worry-free.”
The signing ceremony took place in Lahore that brought together key representatives from Jubilee Life Insurance and Daewoo Express. This event marks a significant milestone in the insurance and transportation sectors, reinforcing both companies’ dedication to providing innovative solutions and enhancing customer satisfaction.