Kathmandu – Life is a journey of ups and downs. These are two sides of the same coin. One should not be disheartened by struggles or overly elated by success. Challenges should not deter one from dreaming of success. Many people around us have shown patience in difficult times and turned obstacles into achievements. Among them is Bishnu Sapkota, the Regional Head of the Balaju region at Citizen Life Insurance.

Sapkota spent a long time searching for a job. Born and raised in Bidur Municipality, Nuwakot, in 2044 BS (1987 AD), he completed his bachelor’s degree in Rural Development in his hometown. Later, he moved to Kathmandu in search of better opportunities. Though his initial days in the capital were challenging, he is now leading the Balaju office of an insurance company. Here is an edited excerpt from a conversation with Sapkota about his journey in the insurance sector.

How did you get into the insurance sector?

Since childhood, I was a bright student and actively participated in school events with a helping attitude. However, finding a job in my hometown was difficult, so I moved to Kathmandu. Initially, I stayed with relatives and struggled to find employment. There were times when I had to spend nights on empty hospital beds.

After much struggle, I secured a teaching job, but I had no real passion for it. Later, I came across a job opening at Prime Life Insurance. I applied, got selected, and started my career there in 2066 BS (2009 AD) as a branch head for three and a half years. In 2069 BS (2012 AD), I moved to Nepal Life Insurance as a branch head, where I worked for eight years. Since 2076 BS (2019 AD), I have been working at Citizen Life Insurance in a different leadership role.

What has been your experience leading in the insurance sector?

I oversee and supervise eight branch offices in my region. My journey in insurance has been fulfilling. I have focused on expanding insurance awareness and accessibility by conducting campaigns across different areas. Meeting people with diverse perspectives makes this field even more rewarding.

In your 15 years of experience, who needs life insurance the most?

Life insurance is essential for everyone, not just a particular class or community. While its benefits may not be immediately visible, it provides financial security, returns, and risk coverage. My experience suggests that low-income, middle-class, and high-income groups all need insurance awareness, with priority given to those who need it the most.

What benefits and achievements have you gained from insurance?

Insurance provides financial security and risk coverage for many people. Personally, I have gained both economic and social benefits from this field. My family has been supportive of my journey in insurance. I was honored as the Best Regional Head by my company in Fiscal Year 2079/80 (2022/23). Additionally, I have participated in various national and international training programs, receiving recognition that has helped me enhance my skills.

Many educated people ignore insurance, while less educated ones are unaware of its importance. Why?

This issue stems from flaws in our education system. Even degree holders struggle to fill out bank documents, while security personnel with limited formal education can do it effortlessly. This highlights the need for reforms in our education system. Assuming that educated individuals automatically understand insurance is a misconception. Some people realize its importance and invest in it, while others remain indifferent despite our awareness efforts.

Mis-selling by agents is increasing surrender cases. Doesn’t this raise questions about the competency of agents and companies?

Yes, some agents mislead people by falsely claiming that insurance doubles their money. This misinformation mostly comes from less knowledgeable agents, which is a serious issue. Since people’s understanding depends on the knowledge provided by agents, initial complaints often arise due to unrealistic expectations. Agents should educate the public honestly rather than misleading them. Mis-selling by a few agents has harmed the reputation of the insurance sector.

How can agents become more capable of handling challenges?

Insurance agents play a crucial role in this sector. If they take their responsibilities seriously, no one will question their credibility. Agents should be well-trained and competent before entering the market. Companies must provide regular capacity-building training to agents. A strong and knowledgeable agent can enhance insurance accessibility, while misinformation can harm the industry’s reputation.

Many youths believe there are no opportunities in Nepal, leading to increased migration. What message do you have for them?

Many young people are eager to go abroad as soon as their expectations are not met. There is a common perception that better financial prospects exist only outside Nepal. However, without specialized skills, achieving financial success abroad is not easy. Many believe that being educated guarantees them a job abroad, but reality proves otherwise. Instead of complaining or blaming the system, youths should focus on careers that align with their interests, which can reduce their desire to migrate.

What is the future of youth in the insurance sector?

We often associate technical jobs only with doctors and engineers, but insurance is also a highly technical field. There are many opportunities for young people in this sector. With consistency and patience, insurance can offer prestige and financial success. Even after 15 years in the industry, I am still learning. This field is a lifelong learning journey and offers financial security, stability, and personal growth.

Finally, what can be done to expand insurance accessibility?

Insurance awareness should reach all municipalities, wards, local clubs, community improvement committees, women’s groups, and agricultural groups. The regulatory bodies and insurance companies must focus on financial literacy programs. Many people misunderstand life, non-life, and health insurance as the same thing. The government should also take insurance seriously, especially after incidents like non-payment of COVID-19 insurance claims, which have impacted the sector’s credibility.