The Securities and Exchange Commission of Pakistan (SECP) has issued a report titled “Unlocking the Potential of Micro and Inclusive Insurance in Pakistan,” which provides an overview of the current landscape and vast untapped potential market for inclusive insurance.
According to a press statement issued by the SECP, the report’s draft version and synopsis were presented at the International InsureImpact Conference, 2023, held in Karachi.
This report explores inclusive insurance in Pakistan, highlighting its untapped market potential, comparing it to other jurisdictions, analyzing gaps, and proposing a future course of action.
The data collected indicates a concerning status of an inclusive insurance market in Pakistan. A total of 12.56 million insurance policies were sold through microfinance banks/institutions. Out of these, 89% are credit life insurance, indicating a primary focus on covering the underlying credit risk.
Moreover, of the 20 insurers offering inclusive insurance, only four are actively involved in digital distribution of small ticket products.
Commissioner Insurance, Aamir Khan in his message for report said that “inclusive insurance is of paramount importance for growth of the overall insurance penetration as it will assist and encourage insurers and other stakeholders in developing products and services that foster greater financial inclusivity”.
Acknowledging, the urgency of this matter, collaborative efforts are required to bridge regulatory gaps, streamline processes, enhance awareness and improve product accessibility through focusing on digital distribution.
By partnering with mobile network operators, microinsurance providers can leverage their extensive network and digital infrastructure.
The way forward to make inclusive insurance accessible to the target market is through amendments in Microinsurance Rules 2014 and leveraging technology to the fullest.
Collectively SECP, and insurance industry, along with other relevant authorities, have prioritized the development and implementation of comprehensive policies to facilitate inclusive insurance growth.
The report suggests forming a synergy group and involving insurance companies, InsureTech, and the government to ensure inclusive insurance accessibility for underserved populations.
Get your Ex-Lover Back Using Powerful Love Spell. My life become more beautiful since i contacted this real spell caster Dr Excellent for help” I was heart broken when my husband left me and moved to California to be with another woman. I felt my life was over and my kids thought they would never see their father again. I tried to be strong just for the kids but I could not control the pains that tormented my heart, my heart was filled with sorrows and pains because I was really in love with my husband. I have tried many options but he did not come back, until i met a friend that directed me to Dr.Excellent a spell caster, who helped me to bring back my husband after 11hours. Me and my husband are living happily together again, This man is powerful, Contact Dr Excellent for any kind of spiritual problems or any kind of spell or relationship problems he is capable of making things right for you with no side effect., Here his contact. WhatsApp him at: +2348084273514 “Or email him at: Excellentspellcaster @gmail. com
I Am morgan ,am from united state i Got my already programmed and blanked ATM card to withdraw the maximum of $20,000 daily for a maximum of 20 days. I am so happy about this because i got mine Just week and I have used it to get $80,000. ethicsrefinance is giving out the card just to help the poor and needy though it is illegal but it is something nice . And no one gets caught when using the card. get
yours from him.
CONTACT: (Ethicsrefinance @g mail com)
TELEGRAM: @ethicsrefinanace
You can also contact them for the service below
* Western Union Transfer
* Blank atm card
* Bank Transfer
* PayPal / Skrill Transfer
* Crypto Mining
* CashApp Transfer
* Bitcoin Loans
* Recover Stolen/Missing Crypto/Funds/Assets
cant you help me for your informatio is lazy news
HOW I FINALLY RECOVERED MY LOST BITCOIN:
Do you need help on how to recover lost or stolen Bitcoin from fake investment scammers? I lost all my Bitcoin to a fake investment scam to someone I met online. After losing my Bitcoin investments, I was determined to find a solution. I started searching for help legally to recover my funds, and I came across a lot of Testimonies about GEO COORDINATES HACKER. I am incredibly grateful for the exceptional service, and wanted to inform you all about this positive outcome. They emphasized their excellent strategy for Bitcoin recovery. In order to assist people and companies in recovering their lost or stolen cryptocurrencies. They guarantee that misplaced bitcoins have an opportunity to be recovered with their excellent services. If you or anyone you know ever finds yourselves in a similar unfortunate situation, I highly recommend reaching out to GEO COORDINATES HACKER. Contact Info Email:
( [email protected] )
Email; ( [email protected] )Telegram ( @Geocoordinateshacker )Website; https://geovcoordinateshac.wixsite.com/geo-coordinates-hack