Kathmandu. The Actuarial Society of Nepal, in collaboration with the Insurance Authority of Nepal and the Institute and Faculty of Actuaries (IFOA), a UK-based actuarial organization, has organized an interactive program on the development of actuarial expertise in the insurance sector of Nepal in Lalitpur today.
The interactive program was organized between the Insurance Authority of Nepal, IFOA, Global Actuarial Initiative, BIMAK, Actuarial Society of Nepal and actuarial analysts with the aim of discussing and receiving suggestions on the development of actuarial expertise in Nepal.
Addressing the program, Chairman of the Insurance Authority of Nepal, Sharad Ojha, said that the role of actuaries is especially important in the insurance sector due to the nature and complexity of the business. .
Chairman Ojha mentioned that a collective effort is needed to highlight the expertise of actuaries, give further momentum to the insurance business and create an environment where the insured can feel confident.
Chairman Ojha expressed his belief that the new perspectives and ideas that will come out of the program will prove to be important in giving a new height to the actuarial profession.
Sushil Dev Subedi, Executive Director of Nepal Insurance Authority, said that the role of actuaries is important in ensuring financial stability, effectively managing risks and achieving sustainable growth in the insurance sector.
Executive Director Subedi said that the authority has taken steps to address the challenges faced due to the shortage of actuaries in Nepal. He informed that the organization has been promoting activities such as capacity building programs, international partnerships, and strengthening regulatory oversight.
IFOA President Kartina Tahir Thomson stated that the efforts made by the Nepal Insurance Authority as a facilitator for the development of actuarial expertise in Nepal are commendable and expressed her readiness to provide necessary support for this.
Quinnie Chou, Director of the Global Actuarial Initiative (GAIN), said that they are excited about the collaboration with the Authority to enhance actuarial expertise and expressed her commitment to take the initiative to further intensify such cooperation in the coming days.
In the program, Director of the Nepal Insurance Authority, Pujan Dhungel (Officer), She gave a presentation on the initiatives taken by the Authority to enhance actuarial efficiency and the achievements gained from its association with GAIN.
The program was attended by officials of the Nepal Insurance Authority, officials of IFOA, members of the Global Actuarial Initiative, officials of the United Nations Development Program, members of the Actuarial Society of Nepal, students of Actuarial Science from Tribhuvan University, and actuarial managers and actuarial analysts from insurance companies, microinsurance companies, and reinsurance companies.
