Implementation of IRMIS guidelines, The authority believes that the data of insurance companies will be transparent

Kathmandu. The regulatory body Nepal Insurance Authority has implemented the guidelines related to Insurance Regulatory Management Information System (IRMIS).

Rajuraman Paudel, Executive Director of the Authority, has informed Bimapost that the guidelines have been implemented to make data management and work of regulators and insurers efficient and transparent.

With the implementation of this rule, it is now necessary to use the IRMIS portal to exchange information and data with insurers or other relevant agencies.According to this guidance, life, non-life and reinsurance companies have to provide the information requested by the authority within the specified time.It is mentioned in the guidance that the authority will provide the login ID to the insurer and the company should enter its data in the same system.