News of Insurance – Jagdish Khadka, the CEO of eSewa Nepal, has stated that digitalization in the insurance sector has so far been limited to policy payments. He emphasized that while the industry is gradually integrating advanced technology, only the payment process has been digitalized so far.

Speaking at the third session of the “National Insurance Discourse 2025,” titled “The Rise of Technology in Insurance: Challenges and Opportunities,” Khadka highlighted that digital wallets are currently used only for premium collection and renewal fee payments. “So far, only premium collection and policy renewal payments have gone digital,” he said.

Khadka stressed the need for insurance companies to fully digitalize their services, including policy sales and payments. If this happens, Nepal’s existing digital wallets could play a crucial role in expanding insurance accessibility.

“There are many opportunities to embed insurance into digital platforms,” he noted. “This includes both payments and policy sales. Digital wallets can play a more significant and supportive role in policy transactions.” He further emphasized that instead of companies having to push policy sales, digital adoption would naturally lead consumers to seek insurance policies themselves.

He also pointed out that insurance companies should utilize the widespread reach of payment platforms to expand their services. “Wallets already have a strong presence in digital payments. Insurance companies should leverage this network to increase their coverage,” he added.

Addressing concerns about data security, Khadka stated that digitalization reduces the risk of data theft. “Data security is a major concern, but first, we must understand the infrastructure behind it. Data does not float in the air—it is stored in data centers. Ensuring a strong infrastructure is key to securing digital transactions,” he concluded.