While participating in the Insurance Discourse, discussions are being held across various sessions on how to advance the insurance sector at the policy level and how to expand public awareness about insurance. These discussions are expected to provide momentum to the growth of the insurance sector. The organizers have been regularly conveying the outcomes of the discourse to the government through reports, as a result of which several issues have been incorporated into policy frameworks.

There is a prevailing tendency to realize the importance of insurance only after an incident has already occurred. The damage caused by the Gen Z movement also led the government to recognize this reality. This mindset of understanding the need for insurance only after an event must change, and the Insurance Discourse will give greater priority to addressing this issue.

Traditionally, life insurance companies have focused more on selling investment-based products and are now gradually moving toward protection-oriented products. Given Nepal’s geography, insurance products often tend to be costly; however, digital solutions can offer more affordable alternatives. Discussions are needed on how to move forward in this direction.

The discourse will also deliberate on the tools used by developed countries to reduce risk and how such practices can be adopted in Nepal. At present, Nepali insurance companies have the capacity to embrace global best practices, and this discourse can serve as a milestone in that journey.

Insurance companies operate on both business and service fronts. To enhance the service aspect—particularly claim settlement—and to change public perception, an ecosystem needs to be developed. Insurance companies alone cannot deliver effective services in isolation.

Examples from developed countries show that insurance reaches customers more effectively when an ecosystem is built through collaboration with banks, security agencies, government mechanisms for data sharing, and health systems for accessing health-related information. Nepal must internalize such practices by working within an ecosystem-based approach. Strengthening the insurance sector requires the collective effort of all stakeholders, although several challenges still remain.

(Based on remarks by Paudel, CEO of Citizen Life Insurance, delivered at the Third National Insurance Discourse 2026.)