Chairman Rajendra Malla Calls for Public-Private Partnership and Technological Reform in Nepal’s Insurance Sector
Kathmandu – Rajendra Malla, President of the Nepal Non-Life Insurance Association and outgoing President of the Nepal Chamber of Commerce, has underscored the critical need for stronger collaboration between the government and the private sector to enhance the performance and reach of Nepal’s insurance industry. Speaking on the current trajectory of the sector, Malla stressed the importance of integrating technology and implementing policy-level reforms to ensure sustainable growth.
“Future insurance should be connected to technology, which will improve both transparency and service effectiveness,” Malla said, pointing to the growing digital transformation of global financial services. He added that if Nepal’s insurance sector can be made fully technology-friendly in the coming years, it will not only strengthen the system but also boost financial transparency and public trust.
Malla, who also serves as the Chairman of Prabhu Insurance, announced that the company will distribute an 18 percent bonus for the fiscal year 2081/82. He attributed this achievement to the company’s strong commitment to service quality, operational transparency, and timely responsiveness. “We are committed to paying claims quickly and on time by being more responsible towards the insured,” he stated.
He also emphasized the practical implementation of the insurance sector’s slogan, “Let’s insure and be confident.” According to Malla, effective and timely service delivery is vital to fulfilling this promise. He reminded stakeholders that insurance plays a critical role in times of hardship, disaster, and risk, making it essential to educate the public about its value in simple and accessible language.
Upon highlighting the need to expand coverage, Malla stressed the importance of making insurance services available across all regions of the country. “We must take insurance to every village and make people understand its importance in their language,” he urged.
Chairman Malla concluded by reiterating that the joint efforts of both public and private sectors—“like two sides of the same coin”—are necessary to build a resilient, inclusive, and modern insurance ecosystem in Nepal.