SECP Wins Global Award For Women’s Inclusive Insurance Policy

For context, the Securities and Exchange Commission of Pakistan has received an international award for its proposed comprehensive insurance policy aimed at improving women's access to insurance.

Key points

• The SECP received the Outstanding Policy Award at the Women's World Banking program held at Oxford University, where teams from 16 countries participated.
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• Pakistan has regarding 117 million women, representing a significant potential market for the insurance industry.
• The proposed policy focuses on developing insurance products specifically for women and expanding access through digital channels.

For context, the SECP received the Outstanding Policy Award at the Women's World Banking program held at Oxford University, where teams from 16 countries participated. The award recognizes the regulator's proposed policy to expand insurance access for women in Pakistan.

For context, the proposed policy focuses on developing insurance products specifically for women and expanding access through digital channels. The SECP has proposed that insurance firms introduce at least two dedicated products for women as part of efforts to rise their participation in the insurance market.

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Pakistan has regarding 117 million women, representing a significant potential market for the insurance industry. While broader measures would seek to bring more women into the insurance system, the proposed policy is projected to initially benefit around 1.5 million women who already hold life insurance policies.

SECP Chairman Dr. Kabir Ahmed Sidhu remarked the international recognition validates the regulator's policy direction. He remarked improving women's access to insurance and ensuring effective consumer protection remain key priorities for the SECP.

Notably, the initiative is aimed at addressing the limited access to formal insurance services among women by encouraging insurers to develop suitable products and employ digital channels to produce insurance more accessible. Stay Connected with ProPakistani.

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Taken together, the developments around SECP Wins Global Award For Women's Inclusive Insurance Policy point to a situation that is still moving, and the coming days should bring more clarity.