Crescent Star Insurance group company begins operations in AI, software and InsurTech

Crescent Star Insurance Limited has told the Pakistan Stock Exchange that its group company, Crescent Star Technologies (Pvt) Limited, has started operating. The disclosure, submitted on Tuesday, lists IT, AI, software creation and digital services among the new unit's areas of work. Profit by Pakistan Today reported that the subsidiary is referred to as CST in the notice.

According to the notice, CST plans to build tech-driven offerings for companies and organisations, especially those in insurance and financial services. The company also intends to pursue opportunities created by the growth of the digital economy. Crescent Star Insurance said the announcement was made to keep shareholders and market participants informed about the launch.

The filing did not state how much money has been committed to the venture. It also gave no expected revenue figures or any estimate of the financial contribution from the new operations. The filing therefore gives shareholders no measure of the venture's size.