Kathmandu. Now the insurance company has to mandatorily implement the e-billing system.
The Insurance Authority of Nepal has issued a circular in the name of all licensed insurance companies. The authority has made it clear that this system will be implemented with the objective of strengthening financial discipline in the insurance sector, increasing transparency of transactions, ensuring tax compliance and making service delivery technology-friendly.
The authority has directed the insurance companies to make it mandatory to issue e-bills/invoices for all types of insurance premiums, fees and other payments.
