CISSII Agreement Signing Ceremony between CDC and Life Insurance Companies
The CISSII (Centralized Information Sharing Solution for Insurance Industry) participation agreement was signed on 25th April 2014 at a local hotel between CDC and EFU Life Assurance, Jubilee Life Insurance Company, MetLife Alico Pakistan, Adamjee Life Insurance Company, East West Life Insurance Company, Pak-Qatar Family Takaful and Dawood Family Takaful Limited.
The signing ceremony was attended by Mohammad Asif Arif, Commissioner Insurance Division, SECP, Muhammad Hanif Jakhura, CEO, CDC, and CEOs and other senior executives of life insurance and family takaful operators.
The objective of the directive was to promote a formal information-sharing mechanism by making membership mandatory for life insurance companies and family takaful operators.
CISSII will bring in greater efficiencies and transparency in the Insurance Industry by exchange of critical information including acceptance of claim and underwriting of hazardous risks.