Kathmandu. A study has shown that ‘inclusive insurance’ should become the next need and priority for reducing economic risk in developing countries TAG_OPEN_span_38TAG_CLOSE_span_39 like Nepal. Dr. A study titled “Inclusive Insurance Policy: A Systematic Review” by Bharat Ram Dhungana has pointed out the need for collaboration between the government and private sectors to bring low-income and marginalized communities under the ambit of insurance .
According to the study, millions of people in Nepal are still not covered under the insurance cover against health problems, natural disasters and livelihood risks }. Especially farmers in rural areas, informal sector workers and low-income families are out of reach of insurance }. The cost of falling ill or having an accident pushes them into a vicious cycle of poverty }. Inclusive insurance aims to provide financial protection to the poor citizens by sharing these risks collectively }.
The study has proposed some effective models to take TAG_OPEN_p_50 insurance services to every village:
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Microinsurance: providing health, agriculture and animal husbandry insurance at affordable premiums through small cooperatives and microfinance institutions }.
Insurance Technology: to simplify the process of purchasing insurance policies and paying claims through mobile app and digital }.
Social Health Insurance:} To ensure the basic health rights of the citizens by making the government-run health insurance program more effective }}}.
Public-Private Partnership: } Expand the scope of insurance } with government subsidies and private companies providing technical services.
Lack of insurance literacy, high premiums and lack of trust are the main challenges in TAG_OPEN_span_14TAG_CLOSE_span_15 Nepal.Thestudy suggests that to solve these problems, the government should subsidize the insurance premium to the target group and raise awareness at the local level {}. technology-friendly and locally appropriate insurance policy can provide a secure future to every citizen of Nepal }.
