Kathmandu. Nepal Insurance Authority (NEA) organized an interaction programme with nepal’s development partners and international organizations at its central office, Kupandol, Lalitpur today.
The program is aimed at informing about the work being done by the NRA for the overall development and expansion of the insurance sector and collaboration with development partners and international organizations, and to carry forward the partnership and collaboration with development partners and international organizations more effectively in the coming days, including potential areas of partnership and collaboration, human resource development, expansion of insurance coverage in remote and rural areas and implementation of digitization in the insurance industry. it has been done.
On the occasion, Executive Director of Nepal Insurance Authority Sushil Dev Subedi said that collaboration and partnership with development partners and international organizations was important to advance insurance in a way that would benefit the common people by expanding the reach and development of the insurance sector.
Executive Director Subedi said that since the objective of development partners and international organizations is to support the greater interest of Nepal, regular cooperation and cooperation is expected from all concerned in exchanging expertise, knowledge and experience in order to advance insurance in a way that benefits everyone including the citizens of remote and rural areas.
Nirmal Adhikari, Director of Nepal Insurance Authority(NEA), pointed out the need for mutual coordination, partnership and collaboration to achieve maximum achievements from limited resources in the insurance sector, prevent duplication in work, reach insurance to the targeted communities and develop a new model to financially protect the new risks seen in the insurance sector.
On the occasion, officials and representatives of nepal’s development partners and international organizations said that the initiative shown by Nepal Insurance Authority in nepal regarding risk-based capital, risk-based regulation and risk-based insurance rate is commendable.
They aim to implement digitization in the insurance sector to advance the development of the insurance sector as expected, institutional arrangements for sharing knowledge and experience related to insurance, development of insurance policies to protect the financial security of damage caused by climate change, natural disasters and wildlife, creation of insurance and microinsurance articles keeping in mind the geographical condition and economic condition of the low-income group, increasing confidence in insurance by simplifying and facilitating insurance claim payment. He was of the view that nepal’s insurance sector could be further developed by providing integrated data related to insurance and establishing a separate platform to share knowledge and experience related to insurance.
They also said that they are ready to collaborate and partner with NEA in the field of digitalization in the insurance sector, development of new insurance and micro insurance policies based on geographical condition and economic condition of the citizens, training for human resources, insurance awareness enhancement and research related to insurance.
The event was attended by representatives of development partners including World Bank, Asian Development Bank, United Nations Development Programme, GIZ, WWF Nepal, IUCN, Stone Step and Practical Action, representatives of nepal-based offices of international organizations, presidents of Nepal Life Insurance Association, Nepal Insurance Association and Nepal Small Insurance Association and officials and representatives of reinsurance companies.
