Kathmandu. The deadline given by the Nepal Insurance Authority (NIA) to implement the transparency dashboard on the business performance and status of insured services has passed. The NEA had issued a circular to all insurers on May 28 directing them to implement the transparency dashboard within 60 days. <\/p>\n
As per the directive issued by the authority, 8 life insurance companies have already implemented the scheme: Surya Jyoti Life Insurance, LIC Nepal, Sanima Life Insurance, Prabhu Life Insurance, Prabhu Life Insurance, IME Life Insurance, Reliable Nepal Life and MetLife Insurance respectively. <\/p>\n
There are 6 life insurance companies including Nepal Life Insurance, National Life Insurance, Asian Life Insurance, Himalayan Life Insurance, Sun Nepal Life Insurance and Rastriya Life Insurance. <\/p>\n
Among the non-life insurers, except NLG Insurance, others have not yet implemented the transparency dashboard. A visit to the websites of non-life insurers Shikhar Insurance, Oriental Insurance, National Insurance, Sagarmatha Lumbini Insurance, Himalayan Everest Insurance, Prabhu Insurance and Rastriya Insurance on Monday afternoon did not find the transparency dashboard. <\/p>\n
Similarly, among the micro insurers, Protective Micro Insurance and Star Micro Insurance have published transparency dashboard. Apart from this, micro insurers like Liberty Trust, Nepal Micro, Crest Micro and Guardian Micro Life are yet to publish transparency dashboard on their websites. <\/p>\n
In the transparency dashboard, the Insurance Authority had directed the insurers to publish updated details on 6 major indicators including insurance business insurance claims, insurance policy details, complaint management, financial condition and branch network. The authority believes that the publicity of such details and data will increase the transparency of the insurer as well as the accountability of the insured. <\/p>\n
The transparency dashboard also publishes statistical details of the indicators as well as comparative graphs. This makes it easier for the insured to get important information about the insurer and compare the insured. <\/p>\n
In the last fiscal year 2082. The annual policy and program of the year 83 states that the Transparency Dashboard system will be implemented in the insurers to protect the rights and interests of the insured by making the insurance service reliable, transparent, accessible and quality. <\/p>\n
The authority had directed the insurers on the issues related to the interests of the insured after the Insurance Khabar published a news report with the status of implementation of the policy and program. <\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. The deadline given by the Nepal Insurance Authority (NIA) to implement the transparency dashboard on the business performance and status of insured services has passed. The NEA had issued a circular to all insurers on May 28 directing them to implement the transparency dashboard within 60 days. As per the directive issued by the […]<\/p>\n","protected":false},"author":5,"featured_media":306091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45167,45159,45099],"tags":[],"class_list":["post-309607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-technology-en","category-news-en","category-regulatory-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=309607"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309607\/revisions"}],"predecessor-version":[{"id":309608,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309607\/revisions\/309608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/306091"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=309607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=309607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=309607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}