‘Delay and opacity of claim payment is the main challenge in Nepal’s insurance sector’
▸ Part of: Nepal's Insurance Sector Faces Challenges in Claim Payments and Technology Adoption
The claim payment process in Nepal's insurance sector remains cumbersome and traditional, hindering its development despite high market potential. A research article highlights the delay, complexity, and lack of transparency in claim payments as major challenges. The article emphasizes the essential role of technology, such as AI, blockchain, and drones, to expedite claim settlements, reduce fraud, and enhance customer trust, while acknowledging implementation challenges like poor internet connectivity and digital literacy.
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