Kathmandu – The second edition of ‘The National Insurance Discourse’ is set to take place on January 9 (Poush 25). The event, jointly organized by Banking News, Banking Samachar and the Nepal Insurance Authority, aims to delve into critical issues surrounding the insurance industry in Nepal.

The first edition of this discourse, held in August 2023, served as a platform to discuss the significance and needs of the insurance sector. The upcoming edition will focus on identifying challenges within the industry and exploring the potential for expanding insurance coverage to 100% of the population.

Key discussions will address regulatory shortcomings, necessary reforms, and policy-related hurdles in the insurance sector. Finance Minister Bishnu Prasad Paudel will inaugurate the event, alongside the presence of Madan Dahal, Chairperson of the Nepal Insurance Authority.

The discourse will feature four major sessions:

1. Strategies and Perspectives on the Development and Expansion of Life Insurance
2. Market Dynamics and Barriers in the Non-Life Insurance Sector
3. The Rise of Technology in Insurance: Challenges and Opportunities
4. Expanding the Boundaries of Nepal’s Reinsurance Market: Innovations for Business Growth

The event will also host notable international experts, including reinsurance specialist Atmaram Cheruvu from India and insurance expert Aman Dhall from PolicyBazaar.com.

A ‘duologue’ with former Finance Minister Dr. Prakash Sharan Mahat will wrap up the program, addressing key issues raised during the sessions. Post-event, a comprehensive report highlighting the discussions, challenges, and policy recommendations will be prepared and submitted to the Ministry of Finance, Nepal Insurance Authority, and other stakeholders.

Raju Dhungel, Managing Director of Banking News, emphasized that the discourse is aimed at promoting and sustaining the growth of Nepal’s insurance industry. He noted that the sector contributes over 7% to Nepal’s economy and provides direct and indirect employment to millions, making its sustainable development and stability a primary objective of the event.