Pakistan’s largest life insurance company, State Life Insurance Corporation of Pakistan (SLIC), will formally join the Centralized Information Sharing Solution for the Insurance Industry (CISSII), a venture introduced by the Central Depository Company of Pakistan Limited (CDC). The signing ceremony between the two institutions took place at CDC House on 12th March, 2015.
CISSII was launched by CDC in April 2014 as a central database through which all stakeholders of the insurance industry can access pertinent information greatly reducing the risks associated with management of filed claims.
The launch of CISSII is the first phase in the implementation of an Insurance Repository, moving towards complete dematerialization of historical records which will ensure a high level of transparency and efficiency in the insurance industry. The induction of State Life in CISSII will be a major move towards this endeavor and CDC’s innovative resolutions for the financial sector can materialize this possibility.