Daily Times

The Security and Exchange Commission of Pakistan (SECP) organized a roundtable on the role of Insurance Intermediaries for enhancing insurance outreach by leveraging technology. The Commissioner, SECP, Sadia Khan chaired the session, said a press release issued here by SECP. The session was designed for the insurance brokers and insurance web aggregators to deliberate on ideas to use technology-enabled solutions for enhancing insurance distribution and simplify payments systems. Sadia Khan emphasised the need of promoting digitalization in the insurance sector and stressed for providing convenient and cost-effective insurance products to meet the protection needs of the masses. The participants appreciated the initiative of SECP of engaging insurance intermediaries and shared a number of proposals for further improving insurance landscape by using digital means. The participants also highlighted some current issues impeding industry’s progress. It was also suggested to share industry-wide data, particularly claims processing to further raise the trust and confidence of the policyholders.