Nepal’s microinsurance push still missing its target communities

english.clickmandu.com · 2 days ago

Despite efforts to expand microinsurance in Nepal since 2014 and licensing dedicated companies in 2022, the sector's progress remains underwhelming, failing to reach intended underserved populations. While specialized microinsurers dominate the non-life segment, larger insurance firms hold a significant share in life microinsurance. Challenges include weak public trust, low awareness, high operating costs, and the need for tailored products and stronger government policies. The report recommends innovation, regulatory support, and improved consumer protection to achieve the mission of reaching vulnerable communities.