Total Cases
2291
Coronavirus in Pakistan
PUNJAB 845 BALUCHISTAN 169 Deaths 31
SINDH 743 ISLAMABAD 62
KP 276 AJK/GB 196 Recovered 107
LAST UPDATED AT: 02 Apr, 2020 - 11:07am

Government establishes Pakistan’s first-ever centralized information repository for life insurance sector

The repository will function under the regulatory control of the Securities and Exchange Commission of Pakistan (SECP) and contain essential data of life insurance programs electronically.

0

insurance

To provide a conducive business environment, the government has established the first ever-centralized information repository of Pakistan for the life insurance sector.

Securities and Exchange Commission of Pakistan (SECP)

The repository will function under the regulatory control of the Securities and Exchange Commission of Pakistan (SECP) and will contain essential data of life insurance programs electronically.

The Chairman of the SECP, Aamir Khan, said that the initiative would escalate scientific advancement in the insurance sector while guaranteeing assistance and safety of policyholders.

Khan further stated, “We, at the SECP, are very aware of our duties as a progressive regulator that needs to help the sector to progress and grow, and concurrently create connections between its regulated sectors and the actual economy.”

The Chairman further highlighted the importance of the centralized documentation of data in digitized form was critical to attaining transparency, speed and cost-efficiency.

Leading Efficiency through Automated Prowess (LEAP)

Khan said, “The SECP had already embarked on a transformational journey of digitization over its newly launched initiative ‘Leading Efficiency through Automated Prowess (LEAP)’.

LEAP will allow 100 per cent end-to-end automation, complete integration with multiple government agencies for one-time registration, digitization and storage of financial statements of companies.

What are your views on this? Share in the comments bar below.


Most viewed in last 24 hours

View More

24 گھنٹوں کے دوران 🔥

View More

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

>