4th June 2025, Kathmandu
Nepal Micro Insurance and Machhapuchchhre Bank have signed an agreement to work together in the insurance sector. The partnership focuses on expanding microinsurance access and improving services for everyday people, especially underserved communities.
Machhapuchchhre Nepal Micro Insurance Partner
MoU Signed At Bank’s Central Office
The agreement was signed at Machhapuchchhre Bank’s central office. Kumar Gyawali, Head of the Research and Business Portfolio Department at the bank, and Anil Raj Giri, Deputy Chief Executive Officer (DCEO) of Nepal Micro Insurance, represented their organizations.
Both parties expressed a commitment to developing practical and inclusive insurance services. The partnership sets the foundation for innovation, wider coverage, and simpler delivery systems.
Goals of the Partnership
The collaboration will support several goals. First, both institutions aim to create new insurance products tailored for individuals and small businesses. These products will be affordable and easy to understand.
Second, they will launch joint marketing campaigns. These campaigns will raise awareness about the benefits of microinsurance and help build trust among the public.
Third, they want to make insurance services faster, easier, and more accessible. By improving service delivery, customers can get the help they need without delays or complications.
Making Insurance Inclusive
This agreement is a big step toward inclusive financial services. Nepal Micro Insurance brings experience in designing micro insurance schemes. Meanwhile, Machhapuchchhre Bank has a wide customer base and branch network across the country.
Combining these strengths, the partners will focus on reaching low-income and rural populations. These groups often face difficulties accessing insurance, especially non-life policies that protect against accidents, property loss, and other risks.
Statements From Leaders
Speaking at the signing event, Anil Raj Giri, DCEO of Nepal Micro Insurance, called the agreement a gateway to new possibilities. He said, “This cooperation will open new avenues to expand non-life micro insurance services across the country.”
Giri believes this partnership will help protect individuals and small businesses from sudden losses. Many people still lack insurance coverage in Nepal, especially in rural and semi-urban areas. With this partnership, those gaps may start to close.
He added, “We aim to use our micro insurance experience together with the bank’s outreach to create real impact.” Giri also highlighted that their joint efforts will focus on developing innovative products, simplifying services, and promoting awareness among the target audience.
Reaching The Margins
One of the core missions of this collaboration is to empower marginalized communities. These are often the people left behind in traditional insurance systems. By making insurance more accessible, both institutions aim to reduce financial vulnerability.
Together, they want to help families and small enterprises manage risks better. When people have insurance, they can recover from losses without falling into debt or poverty. This is especially important in a country like Nepal, where natural disasters and health emergencies are common.
A Step Toward Financial Inclusion
This partnership reflects a growing trend in Nepal’s financial sector. More banks and insurance companies are looking to work together to bring services to the grassroots level.
With this agreement, Machhapuchchhre Bank and Nepal Micro Insurance have shown leadership. They are setting an example of how public-private collaboration can improve financial inclusion.
Both organizations have said they will continue exploring new models, technologies, and delivery methods to reach more people.
Looking Ahead
This is not just a one-time project. The agreement creates a long-term framework for cooperation. As they roll out new services, the partners plan to monitor progress, gather feedback, and adapt based on customer needs.
They believe that sustainable growth in the micro insurance sector depends on trust, transparency, and ease of access. By focusing on these values, the partnership could have a lasting impact on the way Nepalis view and use insurance.
Conclusion
In summary, the partnership between Nepal Micro Insurance and Machhapuchchhre Bank is a major step forward. It brings together expertise, resources, and a shared mission to make insurance services more available and useful.
By working together, the two institutions aim to reduce risk, support economic resilience, and strengthen Nepal’s financial system—one community at a time.
For more: Machhapuchchhre Nepal Micro Insurance Partner