Seminar Cum Interaction Program on Nepalese Non- Life Insurance Industry: Opportunities & Challenges

Published on: 2020-05-05

Date: 15 April, 2016

Venue: Hotel Legacy, Mustang Chowk, Pokhara, Nepal

Program was organized by Study Group for Banking and Insurance, Pokhara University sponsored by Nepal Insurance Company Ltd on 15 April, 2016 in Hotel Legacy Mustang Chowk, Pokhara. There were the guest from insurance industry participants from BBA-BI, School of Business & NTHMC, Pokhara University.

The program was inaugurated by Dr. Karna Bir Paudel, Dean, Faculty of Management, Pokhara University and Dr. Rabindra Ghimire at 10:00am. After the inauguration of program Mr. Sundar Kumar Shrestha, entrepreneur & chairman at Hotel Kantipur gave a motivational speech till 11:00 am. Afterwards, there was tea break from 11:00 – 11:30 am.

After the tea break technical session of the program gets started. Dr. Rabindra Ghimire (Assistant professor, Pokhara University ) brilliantly give a presentation   on the topic “Insurance Industry: Evolution & Present  Status” over the first session. It was emphasized that after the liberalization and the formation of insurance board of Nepal many new insurance companies were established with foreign joint venture and promote the insurance industry in Nepal.

After the completion of the first session, there was an informative overview on the topic “Non-life insurance products and their features” where Mr. Deepak Raj Tiwari( Deputy Manager, Nepal Insurance Company Ltd) clearly describes about the Marine insurance, Aviation insurance, agricultural insurance, fire insurance , third party liability insurance, contracter’s all risk insurance etc.

As launch break ended at 2:30 the third session of the program gets begin on topic “Reinsurance and International Broking”. The session was handled by Mr. Ishwor Bahadur Adhikari (Branch Manager, Nepal Insurance Co Ltd, Pokhara) describing about Nepal Reinsurance Company Ltd and other reinsurance companies of the world.

Around 3:30 pm Mr. Shakti Baruwal an insurance surveyor provide a deep knowledge on the “Technical, Legal & Social Aspects of Claim Settlement Process in Nepal”. He shared his experience and the problem faced during claim settlement as being a surveyor.

As all the sessions ended with question and answer between participants and resource persons. That makes the program more fruitful where students interacted with the speakers clarifying their doubts and asking interesting questions. The program successfully ended around 5:30 pm with certificate distribution and closing remarks by SGBI president Ms. Sandhya Chhetri.

The seminar was very informative as participants got opportunity to learn enormous knowledge on opportunities & challenges of Nepalese non- life insurance industry. They loved the event as a whole.