ASA Microfinance Bank (Pakistan) Ltd. and Turaco Agency Ltd. (T/A Turaco) have signed a strategic partnership to introduce embedded insurance solutions for microfinance customers across Pakistan.
The agreement marks a significant step toward expanding access to financial protection for underserved communities by integrating affordable insurance directly into ASA Pakistan’s lending journey. The signing ceremony was attended by senior leadership from both organizations.
Under the partnership, Turaco will enable insurance coverage to be seamlessly embedded within ASA Pakistan’s loan products, allowing borrowers to access protection against unforeseen risks such as illness, accidents, or loss.
“This partnership reflects our continued commitment to supporting our customers beyond access to credit,” said Naazer Minhaj, President & CEO, ASA Microfinance Bank (Pakistan) Ltd. “As an institution operating in Pakistan since 2008, we have seen firsthand the challenges our customers face. Integrating insurance into our offerings allows us to better support their financial journeys.”
Ted Pantone, Co-Founder and CEO of Turaco, added that the collaboration represents an important step in expanding access to insurance in underserved segments. “Turaco is focused on making insurance simple, affordable, and accessible. Through this partnership with ASA, we are able to extend meaningful protection to customers who have traditionally been excluded from such services. This also brings us closer to our broader vision of insuring one billion people globally.”
For millions of Pakistanis relying on microfinance to support their livelihoods, unexpected financial shocks can significantly impact household stability. Access to credit is a vital first step toward financial inclusion, but insurance serves as an equally important financial safety net: enabling individuals and families to build genuine resilience against life’s uncertainties. Together, credit and insurance form a more complete foundation for sustainable financial wellbeing. Despite this, a large proportion of low-income individuals remain uninsured. This partnership aims to address that gap by offering accessible and relevant insurance solutions at scale.
ASA Microfinance Bank (Pakistan) Limited is a microfinance institution with over 400 business locations across Pakistan, serving more than 750,000 customers nationwide. It is part of ASA International Group plc, a leading global microfinance network headquartered in Amsterdam. Turaco is part of the Turaco group, a leading microinsurance and technology company. Focused on emerging markets, Turaco designs and distributes simple and affordable insurance products. Together, the two organizations aim to expand access to inclusive financial solutions across Pakistan.