The JazzCash InsurTech award at Money20/20 USA 2026 confirms what many in Pakistan’s fintech sector have long argued: local digital finance innovation can compete at the highest global level. JazzCash, Pakistan’s leading digital financial services platform and a subsidiary of VEON Ltd. (NASDAQ: VEON), has won the Silver Award in the Banking InsurTech category at Money20/20 USA 2026. The ceremony took place in Las Vegas on October 18, 2026.
What the JazzCash InsurTech Award Is For
The award recognises Sehat+, JazzCash’s health-protection platform, for its innovation in insurtech and its role in bringing affordable, accessible health insurance to Pakistan’s informal workforce, daily-wage earners, small traders and first-time insurance buyers, for the first time.
This is not a token recognition for a developing-market player. This year’s winners were selected from a highly competitive field of entries from across the world and represent some of the most impactful and forward-thinking organisations shaping the future of money, from breakthrough startups and fast-growing fintechs to established financial institutions. This year’s winners span 8 countries across 4 continents, with work from Bangladesh, Colombia, Cyprus, Pakistan, Singapore, South Korea, UK and USA.
Sehat+ by the Numbers
The scale of what Sehat+ has built is what makes this JazzCash InsurTech award meaningful beyond a trophy. Sehat+ now serves 2.38 million active unique insurance customers and has issued 27.7 million policies to date, embedding insurance into everyday transactions and paying claims without the paperwork that has traditionally kept coverage out of reach for informal workers.
Think about that figure for a moment. Pakistan’s formal insurance penetration rate has historically hovered below one percent of GDP. Most daily-wage earners, rickshaw drivers, small shopkeepers and home-based workers have never owned a single insurance policy. Sehat+ has handed 27.7 million of those policies to people who were previously shut out of the system entirely.
Insurance has traditionally been built around people who already had a safety net, a steady job, a bank account, or savings. This award recognises JazzCash’s innovative approach in reimagining that model by embedding insurance into the everyday transactions people already make.
Two Years in a Row at Money20/20
This marks JazzCash’s second consecutive year winning a Silver Award at Money20/20 USA, having won in Banking for its ReadyCash lending platform in 2025. That consistency matters. A single win could be luck or a well-written entry. Back-to-back Silver Awards in two different categories, lending and then insurance, signals a company that keeps building real products that hold up under expert scrutiny.
For more background on how JazzCash reached the finalist stage earlier this year, see our earlier coverage of JazzCash making the Money Awards 2026 finalist list in two categories.
Kaan Terzioglu, Group CEO of VEON, said JazzCash’s recognition for a second consecutive year is testament to the consistency of its work expanding financial access across Pakistan, adding that JazzCash is a strong example of embedded finance in action, from credit to insurance built directly into everyday transactions, delivered at scale in one of the world’s most populous countries.
Beyond InsurTech: The BISP Finalist Nod
The insurtech win is not the only recognition JazzCash picked up in Las Vegas. JazzCash was also named a finalist at Money20/20 USA 2026 in the Strategic Alliance and Partnership category for ‘Paid with Dignity’, recognising its role as a disbursement partner to the Benazir Income Support Programme (BISP) and other government welfare initiatives.
This detail gets less attention in most coverage but it matters a great deal for Pakistan. BISP supports millions of the country’s most economically vulnerable families. JazzCash digitising that disbursement means fewer lost payments, less travel to collection points, and more dignity for recipients. That a global fintech jury recognised this partnership is a signal that welfare-tech built for low-income populations is becoming a serious category worldwide.
What Embedded Insurance Actually Means for Pakistani Users
The term ’embedded insurance’ sounds technical but the idea is simple. Instead of asking someone to walk into an office, fill in forms and pay a separate premium, JazzCash wraps a small insurance product around a transaction the person is already making, such as loading mobile credit, making a payment or receiving a transfer. The cover activates automatically.
For a daily-wage worker in Lahore or a small trader in Faisalabad, this removes every traditional barrier: no branch visit, no paperwork, no large upfront premium and no claim process that takes weeks. Sehat+ pays claims quickly, which is the part that actually changes behaviour and builds trust.
This model could reshape how Pakistan thinks about insurance regulation, product design and distribution. If 27.7 million policies can be issued through a mobile wallet, the argument for keeping insurance tied to traditional agents and paper forms becomes very hard to make. The JazzCash InsurTech award from a global jury gives regulators and industry peers a credible external benchmark to point to.
Pakistan’s broader push into digital finance is gathering pace. The Mastercard and BankIslami partnership is another example of how digital payments infrastructure is expanding deeper into Pakistan, creating the rails on which products like Sehat+ can ride.
What Comes Next
JazzCash’s CEO Murtaza Ali has signalled that the company is not stopping at lending and insurance. He said the real measure of the work at JazzCash is impact, whether a microentrepreneur gets credit when they need it or a family’s health claim gets paid without delay, and that the same approach is now being brought to savings and investment so more Pakistanis can build toward their future.
Now in its second year, The Money Awards have been established as a global benchmark for excellence across fintech, banking, payments and financial innovation. For Pakistan, having a home-grown platform win here two years running changes the narrative. Pakistani fintech is no longer just catching up. In embedded insurance for informal workers, it appears to be setting a standard others are watching.
Frequently Asked Questions
What did JazzCash win at Money20/20 USA 2026?
JazzCash won the Silver Award in the Banking InsurTech category at The Money Awards 2026, held at Money20/20 USA in Las Vegas on October 18, 2026. The award was for Sehat+, its embedded health-insurance platform for Pakistan’s informal workforce.
What is Sehat+ and how many people use it?
Sehat+ is JazzCash’s health-protection platform that embeds affordable insurance into everyday mobile transactions. It has 2.38 million active unique insurance customers and has issued a total of 27.7 million policies, mainly to daily-wage earners and first-time insurance buyers.
Has JazzCash won at Money20/20 before?
Yes. JazzCash won a Silver Award at Money20/20 USA 2025 for its ReadyCash lending platform, making 2026 the second consecutive year it has taken Silver at the world’s leading fintech show.
What is Money20/20 and why does the award matter?
Money20/20 is the world’s largest annual gathering for the payments, banking and fintech industry. Its Money Awards are judged by a global panel of senior executives from banks, payments companies and investment firms, making a win a credible, independent validation of real-world impact rather than a self-nominated prize.
