Jun 26, Kathmandu - The Nepal Insurance Authority organized a vital discussion and interactive session today at its Central Office in Kupandol, focusing on insurance-related research, data accuracy, and statistical analysis.

The program was aimed at ensuring uniformity and quality in the daily, monthly, quarterly, semi-annual, and annual data collected from insurers. It also sought to inform participants about recent changes in data reporting within IRMIS and to address issues faced in the reporting process with potential solutions.

During the event, Sushil Dev Subedi, Executive Director of the Nepal Insurance Authority, emphasized the crucial role of accurate data in insurance research and studies. He highlighted the importance of maintaining data integrity, consistency, and reliability.

Deputy Director Pushpa Kunwar expressed the Authority’s readiness to collaborate and facilitate solutions for challenges in the insurance data system. Similarly, Assistant Director Sunder Prasad Sharma shared insights into the problems, challenges, and opportunities encountered during insurance-related research conducted by the Authority.

Sharma stressed the need for the timely availability of essential data, standardization across data sets, appointing contact persons for research, prioritizing investigations, and securing necessary resources and tools. Bansant Prasad Bohara, Data Scientist at the Authority, presented on the sources and methods of data collection, recent changes in reporting systems, and the Authority’s expectations from insurers regarding data submission.

The session saw participation from key representatives of insurance companies, micro-insurance firms, and reinsurance companies’ research and information technology divisions. The program was facilitated by Kamala Ghartri, Assistant First Director at the Nepal Insurance Authority.