Kathmandu – Acting Governor of Nepal Rastra Bank, Neelam Dhungana, has called on the banking and insurance sectors to work collaboratively and channel more investment into productive areas. Speaking at the 57th anniversary celebration of the Nepal Insurance Authority, she emphasized the growing need to safeguard investments and promote entrepreneurship.
Dhungana highlighted that the integration of technology would play a transformative role in the growth of Nepal’s insurance sector. She urged insurance companies to adopt digital platforms, mobile apps, and artificial intelligence to streamline processes such as claims management, premium collection, customer service, and risk assessment.
“Technology plays an extremely impactful role in developing the insurance sector,” said Dhungana. “By adopting digital platforms, mobile applications, and AI, insurers can make their services more efficient, faster, transparent, accessible, and trustworthy.”
She stressed the responsibility of regulatory bodies like the Insurance Authority to ensure greater protection in insurance-related matters. Timely settlement of insurance claims, she said, is essential to build public trust. “If people receive claim payments on time during accidents or natural disasters, it sends a positive message and encourages others to seek insurance coverage,” she noted.
Dhungana also pointed out the importance of insurance education, promotion of insurance business, and the protection of policyholders’ rights and interests. These, she said, are key to strengthening insurance services and expanding their reach in Nepal.
