Kathmandu. Nepal Rastra Bank Kathmandu: Governor Nilam Dhungana has said that the main need of the Nepali economy is to increase production and productivity.
Addressing the 57th anniversary celebrations of Nepal Insurance Authority (INSURANCEA) here today, Dhungana said the banking and insurance sectors should work together to increase investment in the productive sector.
She said it was imperative to ensure the safety of investment and entrepreneurship. According to him, the role of technology in the development of the insurance sector is very effective, so the activities like insurance claim process, premium collection, customer service and risk assessment will be more effective in Nepali insurance companies through technologies such as digital platforms, mobile apps, artificial intelligence.
Acting Governor Dhungana said, “The role of technology in the development of the insurance sector is very effective. Nepali insurance companies should use technologies such as digital platform, mobile app, artificial intelligence. Through this, the insurance claim process, premium collection, customer service and risk assessment will be more effective. With this, the services provided by the insurance business can be made quality, quickly transparent, accessible and reliable. ’
Km Governor Dhungana said that as a regulatory body, insurance management should pay more attention to insurance related security issues. According to him, the Insurance Authority should ensure timely payment of insurance claims.
If this is done, people’s confidence in insurance will increase. Dhungana said that if the people get the claim payment on time during the crisis like accidents and natural disasters, it will send a positive message and encourage others to insure.
She stressed the need to lay more emphasis on insurance education, promotion of insurance business and protection of the rights of the insured to make the insurance business and its services more effective in Nepal. According to Dhungana, there is a need to promote beam as an integral part of every economic activity.
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