Key Takeaways
- SECP plans to expand insurance tribunals and introduce a centralized digital complaints system.
- The move aims to improve the resolution of insurance complaints and increase access for policyholders.
- 37,029 insurance-related complaints were received in 2025, highlighting the need for reform.
The Securities and Exchange Commission of Pakistan (SECP) has proposed a series of reforms to enhance the resolution of insurance complaints, including the expansion of insurance tribunals and the introduction of a centralized digital complaints system.
According to an SECP report, 37,029 insurance-related complaints were received through various forums in 2025, underscoring the need to strengthen the existing complaint resolution framework.
SECP Chairman Dr. Kabir Ahmed Sidhu stated that the commission aims to use technology to shorten the time required to resolve complaints and improve accountability within insurance companies.
The SECP has recommended increasing the number of insurance tribunals according to geographical requirements, with the aim of making it easier for policyholders to identify the appropriate forum for their complaints.
It has also proposed publishing a list of sessions courts designated as insurance tribunals, ensuring that policyholders can easily locate the relevant tribunal.
The commission has further recommended that the Ministry of Law and Justice ensure the timely appointment of members of insurance tribunals to expedite the resolution process.
Additionally, the SECP has proposed expanding the scope and geographical reach of committees established to resolve smaller insurance disputes, making it more accessible for policyholders to seek redress.
The report suggests allowing policyholders to submit insurance complaints and supporting documents online, aiming to establish an integrated digital system to manage complaints and reduce resolution time.
SECP has also recommended legal measures to enable complaints concerning government-owned insurance companies to be referred to the Federal Insurance Ombudsman, ensuring a comprehensive approach to addressing policyholder grievances.
The objective is to ensure that policyholders can easily access the appropriate forum for resolving their complaints.
Dr. Kabir Ahmed Sidhu, SECP Chairman
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