Karachi: Jubilee Life Insurance, in collaboration with SEED Ventures, has launched the Jubilee Life Insurance University Challenge (JLIUC) at the British Deputy High Commission in Karachi. The initiative aims to spur innovation in Pakistan's insurance industry by engaging university students in the development of new insurance products. The event concluded with a competition where finalists vied for a PKR 150,000 cash prize and an internship at Jubilee Life Insurance.

According to Jubilee Life Insurance, the JLIUC was founded to identify and nurture future leaders in the insurance sector. The program, which began in January 2024, provides mentorship from industry professionals and aims to increase insurance penetration in Pakistan through innovative solutions. The challenge involved students from Karachi's leading universities, who presented their research and product designs aimed at transforming the local insurance landscape.

Mr. Farhan Faridi, Group Head at Jubilee Life Insurance, highlighted the enthusiasm and creativity of the participants, noting that such initiatives are pivotal in driving sustainable changes within the industry. The British Deputy High Commissioner, Ms. Sarah Mooney, and CEO of SEED Ventures, Ms. Shaista Ayesha, both praised the program for enhancing industry-academia collaboration and contributing to economic development.

The initiative selected 36 students from 180 applicants from institutions like IBA and SZABIST, providing them with valuable exposure and professional guidance to refine their proposals for the insurance market.