Document background
The Insurance Service Level Agreement is a crucial document used to establish and maintain clear service standards in insurance operations within Pakistan's regulatory framework. It is typically implemented when an insurance provider enters into a significant insurance arrangement with a client organization, particularly for corporate or institutional clients requiring specific service levels. The agreement encompasses detailed performance metrics, compliance requirements with Pakistani insurance laws and SECP regulations, and operational procedures for insurance service delivery. It addresses both conventional insurance and Takaful operations, incorporating necessary provisions for digital service delivery, claim processing timeframes, customer service standards, and reporting requirements. This document is essential for ensuring accountability, measuring performance, and maintaining service quality in insurance operations while providing legal protection for all parties involved.
