SECP Wins Global Award for Women’s Inclusive Insurance Policy
SECP receives global recognition for advancing women’s inclusive insurance in Pakistan.
The Securities and Exchange Commission of Pakistan (SECP) has won the Outstanding Policy Award at Women’s World Banking’s Leadership Development Program for Regulators at Saïd Business School, University of Oxford.
The SECP secured first place among 26 participating pairs from 16 jurisdictions. The award recognises its efforts to create a more inclusive insurance market for women in Pakistan.
The regulator presented a policy proposal focused on women-centric insurance products, digital access, wider distribution and stronger consumer protection.
Policy Targets Women’s Insurance Needs
Director Insurance Muhammad Arshad and Assistant Director Insurance Sofia B. Rabnawaz represented the SECP at the programme.
Their proposal aims to improve women’s access to suitable insurance products. It also encourages insurers to use digital platforms and more inclusive distribution channels.
The proposed framework would require insurers to offer at least two products designed specifically for women.
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The initiative could benefit about 1.5 million existing women life insurance policyholders in the short term.
The SECP also wants insurers to strengthen consumer protection. The move could help women make better-informed decisions about insurance and financial security.
Draft Framework Awaits Public Consultation
The SECP has prepared a draft policy and is reviewing it before the next stage.
The regulator plans to release the draft for public consultation before implementation. Industry stakeholders and other interested parties will have an opportunity to provide feedback.
The consultation could help the SECP refine the framework and address practical challenges before insurers adopt the new requirements.
The policy also supports Pakistan’s wider efforts to increase financial inclusion. Better access to insurance could give women greater protection against financial risks.
SECP Chairman Welcomes International Recognition
SECP Chairman Dr. Kabir Ahmed Sidhu welcomed the global recognition.
He said the award validates the regulator’s policy direction and its efforts to unlock Pakistan’s insurance potential.
The SECP aims to achieve this through targeted products, digital distribution and stronger consumer protection.
The recognition also highlights Pakistan’s efforts to improve women’s participation in the financial system.
The regulator believes a more inclusive insurance market can create new opportunities for women while strengthening financial resilience.
The proposed reforms now move toward public consultation. If the framework receives approval, insurers could introduce more products tailored to women’s needs across Pakistan.
