Internet of Things (IoT) Timeline in Pakistan and Insurance Sector

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The Internet of Things (IoT) has been gaining momentum in Pakistan in recent years, with several initiatives and projects being launched. Here is a brief timeline of IoT in Pakistan:

 

2016: Pakistan's first IoT Lab was established in Lahore by the Punjab Information Technology Board (PITB). The lab aimed to provide a platform for students, entrepreneurs, and startups to work on IoT projects.

 

2017: The Karachi Smart City Project was launched, with the aim of transforming Karachi into a smart and sustainable city using IoT and other advanced technologies.

 

2018: The IoT Forum Pakistan was established to promote IoT technology and its adoption in Pakistan. The forum organized several events and workshops to create awareness about the potential of IoT in various sectors.

 

2019: The Ministry of Information Technology and Telecommunication (MoITT) launched the IoT-based National Incubation Center (NIC) in Islamabad. The NIC aimed to provide startups with state-of-the-art facilities and resources to develop IoT-based products and services.

 

2020: The COVID-19 pandemic led to an increased focus on IoT-based solutions in Pakistan. Several startups and companies launched IoT-based solutions such as temperature monitoring devices, contact tracing apps, and remote healthcare systems.

 

2021: The government of Pakistan announced the National IoT Strategy, which aimed to promote the development and adoption of IoT in various sectors. The strategy focused on creating a conducive ecosystem for IoT startups, developing IoT skills in the workforce, and promoting research and development in IoT.

 

Overall, the IoT ecosystem in Pakistan is still in its early stages, but there is significant potential for growth and development in the coming years.

 

Telematics
Telematics

The insurance industry in Pakistan has also started to adopt IoT technology in recent years, with several initiatives and projects being launched. Here is a brief timeline of IoT in Pakistan's insurance industry:

 

2018: TPL Insurance partnered with Pakistan's first IoT Lab to develop IoT-based insurance solutions. The partnership aimed to use IoT devices such as telematics to collect data on driver behavior and offer customized insurance plans to customers.

 

2019: Jubilee Insurance launched an IoT-based health insurance product, called "Smart Health." The product included wearable devices that collected data on the customer's health and offered personalized health plans.

 

2020: The COVID-19 pandemic led to an increased demand for digital insurance solutions in Pakistan. Several insurance companies launched IoT-based solutions such as remote health monitoring devices, contact tracing apps, and digital claims processing systems.

 

2021: TPL Insurance launched an IoT-based car insurance product, called "TPL Drive." The product used telematics devices to collect data on driver behavior and offered customized insurance plans to customers.

 

2022: EFU Life Assurance launched an IoT-based life insurance product, called "SmartLife." The product included wearable devices that collected data on the customer's health and offered personalized life insurance plans.

 

Overall, the adoption of IoT technology in Pakistan's insurance industry is still in its early stages, but there is significant potential for growth and development in the coming years. IoT-based insurance solutions can help insurance companies to offer customized plans and improve their risk management practices, while also providing customers with more personalized and cost-effective insurance options.


Author

 Maryam Saeed Dogar

 For more article, kindly read blogs by visiting at https://ihf12.blogspot.com/.

 For more videos, kindly visit our two YouTube channels

 https://www.youtube.com/@imspakistan7268

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