KARACHI
\nPresident Dr. Arif Alvi, on Friday urged insurance companies to expand their services in health and agriculture sectors and utilise modern technologies for enhancing outreach to masses.
\nThe quantum of insurance sector in national economy was much less than its potential and in comparison to other countries of the region, he noted and stressed upon all the stakeholders to work hard for creating their good will among the public besides imparting awareness to masses for achieving exponential growth.
\nThe president was addressing a seminar, titled \u201cRole of ombudsman in development of insurance sector\u201d organised by Federal Insurance Ombudsman secretariat here at Sindh Governor House.
\nDr. Arif Alvi said that government was providing social safety and assistance through its social safety net, public health services and in shape of compensation in case of natural calamities and accidents but more initiatives were required to cover the entire population of the country.
\nHe said that health expenditure was a major concern for people particularly the lower income group and there was a vast potential of health insurance services in the country as those services could not only bridge the existing gapes but also be of great value in time of need.
\nEmphasizing the need of insurance services for agriculture sector, the president observed that agriculture was another important sector of economy that was under served in lieu of insurance services and products while progress with regard to provision of agriculture insurance services was sluggish.
\nRapidly developing information and communication technologies should be utilised to expand the outreach and ensuring the access of masses to the services while doors must be kept open for receiving the complaints and feedback of the public, he advised and suggested that creating good will of insurance companies among the general public and mass awareness would certainly help bringing gradual change in public perception about the sector.
\nThe president appreciated the role of Federal Insurance Ombudsman in timely resolution of public complaints against insurance companies and said that it was encouraging to see that approach of dispute resolution through mediation, instead of prosecution, brought positive results.
\nEarlier, Federal Insurance Ombudsman, Dr. Muhammad Khawar Jameel, highlighting performance and achievements of the FIO secretariat informed that quantum of monetary relief provided to complainants grown to Rs 2.54 billion in the year 2022 from Rs 410 million in 2019.
\nHe said that the significant growth had been achieved due to change of policy for conflict resolution from prosecution to persuasion and mediation.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI President Dr. Arif Alvi, on Friday urged insurance companies to expand their services in health and agriculture sectors and utilise modern technologies for enhancing outreach to masses. The quantum of insurance sector in national economy was much less than its potential and in comparison to other countries of the region, he noted and stressed […]<\/p>\n","protected":false},"author":2,"featured_media":335059,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-335040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n