-BIKRANT PANDEY, Insurance Expert
Kathmandu- The collectiveness of individuals forms groups while the combination of groups leads to the formation of a society and a nation. A prime reason behind is a need of safety and security on the personal and social levels. No society/nation can move ahead in the path of development and prosperity without fulling this requirement.
The well-being of any nation hinges on the level of its social security. The same notion, no doubt, applies to Nepal as well. If its citizens are duly guaranteed with health care and income, particularly in the cases of old age, unemployment, work injury, sickness, etc.
Insurance is a crucial component that should be included in the social security scheme, in my opinion. This will aid in safeguarding citizens against the loss of life and property caused by unforeseeable events such as earthquakes, accidents, and theft, among others.
It is high time the related stakeholders in the country came up together to come up with a concrete strategy on expanding the social security net by incorporating insurance.
Such a strategy should chalk out ways to leverage insurance as a viable to expedite the socio-economic transformation of the country.
