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SECP chief highlights importance of digital transformation
ISLAMABAD: Chairman Securities and Exchange Commission of Pakistan (SECP) Dr Kabir Ahmed Sidhu has said that digital transformation is essential to expand insurance coverage, improve claim settlement and make affordable insurance products accessible to the public. Speaking at an SECP Talk Series session on the development and digitalisation of Pakistan’s insurance market on Tuesday, Dr Sidhu said the industry has assets of approximately Rs4 trillion and annual premiums of Rs708 billion, yet insurance penetration remains only 0.7 percent of GDP. “Only 0.85 percent of insurance premiums are curr...
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