The three-tier insurance scheme uses real-time driving data to reward safer behavior, with coverage expanding from personal accident protection to family benefits.
Losses from hotels, retailers and vehicle dealers already exceed billions of rupees, raising concerns over insurers’ capital strength and Nepal Re’s capacity to absorb claims.
Industry expected to reach US$3.3bn by 2030 as vehicle sales surge, but insurers face mounting claims costs from natural disasters and increased traffic incidents.
