President Arif Alvi on Thursday said that trust and confidence of people in the insurance system is a must for a stable economy and prosperity of the country. He was speaking as chief guest at a seminar titled “Role of Federal Insurance Ombudsman in provision of effective justice” organized by Federal Insurance Ombudsman at Governor House Khyber Pakhtunkhwa.
Among other distinguished participants, the seminar was attended by Speaker KP Assembly and Acting Governor, Mushtaq Ahmed Ghani and Federal Insurance Ombudsman, Dr. Muhammad Khawar Jameel. The President said that steps should be taken to increase the ratio of insurance in GDP for which educating people and building their confidence on insurance is very essential for a vibrant economy. He said that alternation dispute resolution system (ADP) is the best efficient system adopted by the Federal Insurance Ombudsman to provide quick justice to insurance policy holders and resolve their monetary disputes instantly.
He said that as a parliamentarian from 2013-2018, he worked hard to evolve ADR system for the benefit of people as tens of thousands of cases were pending in courts, adding litigation in courts is lengthy as well as costly process to get justice. President Arif Alvi said that we have to adjust our system what people want to settle their disputes. He appreciated all five federal ombudsman offices for resolving all complaints within 60 days.
He stressed the need of embracing new technology, tools and innovations to compete with other countries. Federal Insurance Ombudsman, Dr. Khawar Jamel said that his organization is playing important role in provision of justice to every citizen without hiring any lawyer and without any monetary cost. He said that under the effective guidance and patronage of President of Pakistan, the Federal Insurance Ombudsman has given monetary relief of over Rs. 2 billion to insurance policy holders in 2022 and complaints registration has increased by 300 times as compared to 2019.