The Securities and Exchange Commission of Pakistan (SECP) has won a global award for developing a comprehensive insurance policy aimed at enhancing women’s access to insurance services.
The SECP received the Outstanding Policy Award at the Women’s World Banking Programme held at the University of Oxford, where teams from 16 countries participated.
The proposed SECP policy focuses on expanding women’s access to insurance, developing products tailored to their specific needs and increasing outreach through digital channels.
According to the SECP, Pakistan has around 117 million women, representing significant potential for expanding insurance coverage among women.
Under the proposed policy, insurance companies have been encouraged to introduce at least two dedicated insurance products for women, aimed at addressing their specific financial protection needs.
The policy is initially expected to benefit around 1.5 million existing women life insurance policyholders, while creating opportunities to bring more women into the formal insurance system.
The proposed framework also aims to improve women’s access to insurance products through digital platforms and other accessible channels, thereby promoting greater financial inclusion and protection.
SECP Chairman Dr. Kabir Ahmed Sidhu said the international recognition was an endorsement of the Commission’s policy direction and its efforts to strengthen financial inclusion.
He said that improving women’s access to insurance and ensuring effective consumer protection remained among the SECP’s key priorities.
