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It is a great privilege for EFU General Insurance Limited
that it not only plays a major role in the corporate world of
Pakistan but its senior executives also play a vital role in
the educational sector of Pakistan. One of these examples
can be seen when Mohammad Ali Jinnah University
(MAJU) invited, Mr. Saifuddin N. Zoomkawala,
Managing Director, to be the chief guest at a seminar on Non-Life Insurance. MAJU has been playing a great role in human resource
development for the country, with over 3,500 students currently enrolled.
1550
1600
Marine
1650
1700
1750
1800
1850
1900
1950
2000
To begin with the origin of Non-Life insurance business, Mr. Saifuddin N.
Zoomkawala informed the students that the concept of insurance was more
ancient than the existence of the Romans, but Lloyd's of London was the
pioneer of modern insurance. Lloyd's was the most famous insurance
market, which started marine insurance and shipping newspaper from
Lloyd's Coffee House, situated at Tower Street, London.
Fire
Then he explained the principles of Insurance, which are common to all
types of NonMiscellaneous
Life insurance.
He described the
1550 1600 1650 1700 1750 1800 1850 1900 1950 2000
development of
main types of
Insurance i.e. Marine, Fire, Motor and Miscellaneous from the year 1550
to 2000. This included information of their sub-classes, emerging
solutions, growth, promulgation of Insurance Act and other regulatory
frameworks.
Motor
After explaining the major classes: Marine, Fire, Motor and Miscellaneous
insurance with their nature, definitions and the procedure of their covers, he
talked about employment opportunities in the insurance sector.
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Introduction of a new career fascinated the students and introduced them to
yet another profession not really talked about. In the end he gave a brief
introduction of EFU Group which is Pakistan's largest insurance Group.
This worth learning and authentic presentation was the golden opportunity
for the students of MAJU, which they attended with serious attention,
concentrated on each and every point of the presentation and asked a lot of
questions to improve their knowledge about non-life Insurance. Ms. Sadia
Quddus masters finalist, Mr. M. Haseeb, BS finalist and Mr. M. Waqas
Khan, BBA (Hons.) final students of MAJU, described this syndicate
activity of Professor Wahab as informative and EFU's Chief Zoomkawala
as a versatile speaker.
Dr. Abdul Wahab, President, MAJU and host of the event said, “We have
tried to duplicate the facilities and resources available to American students
at our campuses for the students in a friendly and ethical environment.
Information technology and computer science will play a vital role in the
future advancement of mankind. The future of our country depends on it”.
THE BUYERS
(The Insured)
COMMERCE
MAJU has launched a 'Social Program' to reduce poverty and to provide
education to poor children. The University is bearing all educational
expenses for the students of social program. Before the seminar
Mr. Saifuddin along with Dr. Wahab visited the classes and lauded the
efforts of MAJU in the social sector.
THE SELLERS
THE INTERMEDIARIES
LLOYD’S BROKERS
INSURERS
REINSURERS
LLOYD’S
BROKERS
INDUSTRY
AGENTS
THE PUBLIC
CONSULTANTS
ORDINARY LIFE
AND GENERAL
COMPANIES
REINSURANCE COMPANIES
SELF INSURANCE
THE STATE