Kathmandu. Nepal Insurance Authority Chairman Sharad Ojha has said that the two technology-based products introduced by Suryajyoti Life Insurance Company are very important for the insurance sector.
Inaugurating the Cares Card and e-loan products launched by Suryajyoti Life in Kathmandu today, Chairman Ojha expressed this view. ‘The company has adopted the practice that many countries around the world have been doing in the past in the Nepali insurance market,’ he said, ‘The mechanism that has been started to take loans on attractive finger trips to make insurance products liquid is very good. This sends a message to the insured that if I have an instant need in the future, it will be available even if I don’t reach the insurance company.’
Chairman Ojha suggested that other companies should also start this product. ‘This will make the insurance sector more liquid and end the long process of withdrawing the amount deposited in the insurance only after some time or taking it immediately,’ he said.
Ojha said that the CARES card is more important for those with more than 5 lakhs. ‘The challenge is that you have onboarded the stakeholders,’ he said, ‘How conscious are those stakeholders about the product and the card? “You have onboarded many stakeholders across the country, please give them a card. If tomorrow when you go to the counter, the people from the relevant agencies say, ‘We are not aware of this or do not know about it,’ it will have an impact on creativity in some way,” he said. “That is why it seems that important work needs to be done to train or sensitize the stakeholders that you have unboarded.”
