Insured Must Understand Policy Terms to Avoid Claim Issues: CEO Gautam

Kathmandu — United Ajod Insurance Company Chief Executive Officer (CEO) Kamal Gautam has stressed that insurance claim disputes can be minimized if policyholders clearly understand the terms and conditions of their policies.

Speaking during a panel discussion on “Public Transport in Nepal: Problems and Solutions” at the NADA Auto Show in Bhrikutimandap today, Gautam said that claims often face delays not just due to insurance companies but also because of procedural requirements.

“Motor accidents happen in various parts of the country, and the claim responsibility falls on the insurance company. But before payment, we need essential documents such as the Nepal Police report, hospital report, and surveyor report,” Gautam explained.

He acknowledged that problems and delays exist in Nepal’s insurance claim process but also pointed out that some policyholders demand compensation for matters beyond the policy coverage. “The insured, too, must be aware and not spread misleading claims,” he added.

Comparing Nepal’s insurance market with Europe, Gautam remarked that Nepal still lags behind in terms of development and competitiveness. He emphasized that customer satisfaction is crucial as insurance is “one of the most competitive businesses.”

Also speaking at the program, Bagmati Province Minister for Labor, Employment and Transport, Jayaram Thapa, assured that the government is prioritizing transport and infrastructure development to address public transport challenges.