Insurance Companies — QR Tags as a Risk Reduction Partnership

The Insurance Industry's Lost Asset Problem

Pakistani insurance companies — Adamjee, Jubilee General, EFU, IGI, TPL, and others — pay out millions annually in claims for lost or stolen assets: vehicles, luggage, personal property, and commercial equipment. Every claimed asset that is instead recovered and returned is a claim not paid. QR tags systematically improve asset recovery rates — converting potential insurance claims into successful returns.

The Case for Insurance-QR Tag Partnerships

Vehicle Insurance

Vehicles with QR tags inside (dashboard, inside the door, under the seat) have a documented advantage when recovered by police: the officer or tow yard can immediately identify the owner and contact them, often resulting in return before the owner even realizes the vehicle is gone (e.g., car towed while legally parked). For insurers, this means fewer total-loss vehicle claims and faster case resolution on partial-theft cases.

QR-tagged vehicles also demonstrate proactive ownership behavior — the insured has taken steps to protect their asset. Some international insurers offer premium discounts for vehicles with GPS trackers; QR tags represent the next accessible tier of identification technology.

Travel Insurance

Travel insurance claims for lost luggage are among the most common claim types for international travel policies. QR-tagged luggage has higher return rates (when bags are lost rather than stolen) — the airline baggage handler or customs officer who finds the bag can immediately contact the owner, often before a claim is filed. Fewer claims paid = better loss ratio for insurers.

Property and Equipment Insurance

For commercial property insurance — covering business equipment, laptops, cameras, tools, and machinery — QR-tagged assets are easier to recover from wrong locations, identify when mixed up between contractors, and return when left behind. The identification eliminates the ambiguity of "who does this belong to" that prevents honest finders from initiating returns.

Partnership Program Options

Policyholder Benefit Program

Insurance companies can offer Nishaaan QR tags as a policyholder benefit: every new vehicle insurance policy comes with 2 QR vehicle tags. Every new travel insurance policy comes with 3 QR luggage tags. The tags are pre-registered with the insurance company as a secondary contact, so if an asset is found and the owner can't be reached, the insurance company can be contacted as backup. This creates a differentiated policy benefit that competitors don't offer.

Claims Reduction Partnership

Track which insured assets have QR tags vs. those that don't. Over 12–24 months, analyze whether QR-tagged assets have lower claims rates. We are confident the data will show significant claims reduction. This partnership involves sharing anonymized claims data to quantify the impact — and potentially developing Pakistan's first evidence-based QR tag insurance discount program.

Expected Impact on Claims