Secretary of the Finance Ministry Madhu Kumar Marasini has stressed the need for making the Rastriya Beema Sansthan (RBS) competitive by resolving various problems facing the state-owned non-life insurance company. There is a need to expand its business through the use of new technology, he said.
“The company should be made competitive. For this, all governmental employees and stakeholders should be committed. There is a need to spread insurance education to people at their door-steps,” he said at an event organised here today on the occasion of the 55th anniversary of the company.
The Sansthan’s acting chairperson Basanta Raj Pandey pledged to bring policies to encourage its employees by resolving problems surrounding its employees and holding its annual general meeting and getting its audit done regularly.
Likewise, preparations were underway to expand its business, bring out changes in its structure and do things relating to promotion and encouragement of insurance agents.
Established in 2034 BS with authorised capital amounting to Rs 10 million, the number of its clients has reached 638,793. In six months in the current fiscal year, 2021/22, the Sansthan collected Rs 6.5 billion in premium. While having 22 branches across the country at present, it aims to increase the figure to 28 this year.
