Simplifying Claim Payment will Increase Credibility Towards Insurance : Chairman Silwal

Kathmandu : Chairman of Nepal Insurance Authority Surya Prasad Silwal has said that if the company’s claim payment will be simplified then the trust towards insurance will increase.He said this while speaking at the launch program of SPIL-DIG to issue insurance policies and settle claims by Siddharth Premier Insurance.He said that if the insurance claim is paid on time, it will win the trust of the insured and also help to increase the insurance market.”People insure the company only with hope and faith. When making a claim, if the company starts to make excuses about not having proper documents or similar other excuses and even shows less interest on the insured, then they will not have faith in the company, and eventually the insured will give up and give up on the claim payment,” he said.He said  that we (Insurance companies) have bought the risk of the insured so, if any incident happens to the insured who have taken the policy then we have to provide fast relief facilities. He said that the time has come for other companies to think about this issue like premium insurance. Even the authority is also bringing a plan related to online insurance and claims process. He said that the insurance business will be pushed five years back again, if the companies will still operate in the old style.I have heard many senior officials of Nepal say that insurance does not get money, that is not the case now. Insurance companies have also been instructed to pay attention to this, as insurance companies can win the heart of the insured by paying insurance claims.In addition, he also asked them to pay attention to the fact that unless you can make the product cheaper and add features to the cheaper product, you will not be able to attract the insured.