Nepal Micro Insurance Company recently concluded an orientation program on micro insurance in Pokhara. The  program aimed to inform stakeholders involved in microinsurance. During the event, the Chief Executive Officer of Nepal Micro Insurance Company, Mr. Mrigendra Rimal, shed light on the role of micro insurance in Nepal and   presented the challenges and opportunities associated with it.

Primarily attended by representatives from banks and financial institutions, the program featured a presentation by the company’s Deputy Chief Executive Officer, Mr. Anil Giri, who informed the participants about the microinsurance services offered by Nepal Micro Insurance. He emphasized that the company provides services at affordable and accessible rates.

Organized in coordination with Development Alliance Nepal, the program included remarks from the Director of Agriculture Development Bank Ltd., Gandaki Province, Mr. Ghanendra Adhikari. He highlighted the interdependent relationship between banking and insurance businesses, stating that such orientation programs are valuable for bank employees in their professional duties. Similarly, the Chief of Nepal Insurance Authority, Gandaki Province, Mr. Keshav Prasad Dahal, expressed in his remarks that the concept of microinsurance was introduced to include small and marginalized communities. He suggested that public-level orientation programs should be conducted to expand the reach of insurance.

Two years ago, seven microinsurance companies received operational licenses. Among them, Nepal Micro Insurance Company has held a leading position in expanding its business in the non-life microinsurance sector since its establishment.