VEON's Jazz Launches FikrFree: An AI-Powered Digital Marketplace to Unlock Affordable Insurance and Healthcare in Pakistan

Core Insights - VEON Ltd. has launched FikrFree, an AI-powered digital marketplace for insurance and healthcare in Pakistan, addressing the low insurance penetration of less than 1% of GDP [1][2][3] - The platform aims to provide accessible and affordable coverage through personalized insurance plans and healthcare services, leveraging AI for recommendations [2][3] - FikrFree is part of VEON's Digital Operator 1440 strategy, which focuses on offering a portfolio of connected services relevant for each minute of the day [2] Company Overview - VEON operates across six countries, serving nearly 160 million customers and is listed on Nasdaq and Euronext [6] - Jazz, VEON's digital operator in Pakistan, has over 71.4 million cellular subscribers and 63.3 million monthly active users (MAUs) for its digital services [6] Product Features - FikrFree offers flexible payment options, including a pay-as-you-go model and micro and nano-insurance policies, to enhance access to healthcare [4] - The platform simplifies claims processing, allowing customers to submit claims easily and receive payouts within 36 hours [4] Market Context - The launch of FikrFree is significant in a market where millions lack suitable insurance coverage and healthcare services [3] - In comparison, insurance penetration in the US and UK is over 7% and 9% of GDP, respectively, highlighting the potential growth opportunity in Pakistan [1] Related Services - VEON's other digital services include JazzCash, Pakistan's largest fintech platform with 17.7 million MAUs, and Tamasha, the leading digital entertainment platform with 18 million MAUs [4] - In Ukraine, VEON's Kyivstar is developing Helsi Ukraine, which has about 28 million registered users, and in Bangladesh, the MyBL super app serves 8.1 million MAUs [5]