Nepalese Insurance Experts Unaware of International Inclusive Insurance Conference in Kathmandu

Kathmandu, Several prominent insurance experts in Nepal have expressed surprise at not being informed or participated to the upcoming International Inclusive Insurance Conference organized by Munich Re, which is set to be held in Kathmandu. The event, organized under the leadership of global reinsurance Munich Re and coordinated by the Nepal Insurance Authority, has not included key Nepalese experts in the field, raising concerns about its inclusivity and relevance to the local context.

The conference is scheduled to take place from October 21 to 25, 2024 at Hotel Yak & Yeti in Kathmandu.

Veteran insurance expert Bhojraj Sharma, who has worked extensively with the Nepal Insurance Authority, stated that he was unaware of the conference. Similarly, Dr. Rabindra Ghimire, an insurance expert and associate professor at Pokhara University, echoed Sharma’s sentiment, saying that he, too, had no knowledge of the upcoming event. This sentiment was reiterated by former chairman of the Insurance Authority and longtime professor at Tribhuvan University, Prof. Dr. Fatta Bahadur KC, who also expressed surprise at not being included in the preparations for the international conference.

The absence of invitations to local experts has raised eyebrows in the industry. Many professors and professionals related to the insurance sector told Beemapost represent that they had not been notified or included in the conference’s agenda, leading to questions about its effectiveness and local relevance.

Responding to these concerns, Insurance Authority spokesperson Sushil Dev Subedi said that invitations were still pending and that local experts would eventually be included in the program. However, he did not clarify the reasons for the initial lack of communication with Nepalese professionals.

The decision to exclude prominent local experts, especially those with a deep understanding of Nepal’s insurance policies and challenges, has cast doubt on the success of the event. The involvement of Munich Re, a global leader in reinsurance, adds to the prestige of the conference, but the non-participation of local experts raises questions about whether the discussions will adequately address Nepal’s specific insurance needs.

Critics are now wondering whether the Insurance Authority and Munich Re have fully considered the importance of including those who are most familiar with Nepal’s unique insurance landscape. The exclusion of Nepalese experts could undermine the conference’s impact, as local insights are crucial for formulating policies that address the country’s specific insurance challenges and gaps.

With the event fast approaching, the lack of communication and involvement of domestic experts has led many in the industry to question the conference’s ultimate success and justification.