05/10/2026
Pakistan Offers Significant Potential for Inclusive Insurance
Pakistan has significant potential to expand insurance coverage for underserved households, farmers, workers and small businesses, said Michael J. McCord, Managing Director, MicroInsurance Centre at Milliman, at the SECP Talk Series session on “Inclusive Insurance: Global Insights.”
McCord emphasised that insurance products must be affordable, easy to understand and responsive to consumers’ needs, while timely claims settlement and digital solutions are key to building trust and expanding coverage.
Commissioner Imtiaz Haider highlighted the role of microinsurance in helping low-income families, farmers and small businesses manage financial shocks and protect their livelihoods.
SECP Chairman Dr. Kabir Ahmed Sidhu said SECP is advancing insurance-market development through digitalisation, support for digital insurers, accessible products and stronger consumer protection. He noted that the Insurance Bill currently before Parliament could significantly modernise the sector’s legislative framework and support its expansion.
The session brought together insurance industry representatives, development-sector stakeholders, students and senior SECP officials.
