Impact on Himalayan General Insurance Co. Limited after COVID-19

Citation

Baidawar, Anusha. (2020). Impact on Himalayan General Insurance Co. Limited after COVID-19. (Cooperative Education). Bangkok: Siam University.

Abstract

This cooperative report entitled “Impact on Himalayan General Insurance Co. Limited after COVID-19” has the goal to identify the impacts and response of pandemic on the organization on basis of practical observation and work experience. Objective of the study includes: (1) To understand the COVID insurance policy and its process (2) To understand the operational activities of underwriting, claim, and human resource department in HGI (3) To know how the company executes crisis management, business continuity plan, and adjust to new normal (4) To gain knowledge on insurance rules and regulation of Nepal (5) To get working experience. With rising COVID cases, the COVID insurance regulation went under multiple amendments in Nepal which had an impact on the organization as well as the insurance sector. To adapt with this sudden impact, the organization has been updating and amending its business continuity plan rigorously and has created separate department to deal with COVID issues. Crisis management has been working full-fledged from day one to resolve every operational, workforce, customer, safety, and digital issues. Upon the completion of the internship, it was found that the impact of pandemic will have change in business plans, products, and digitization depending on the response of the organization.

Keywords: COVID Insurance, Regulation, Impact, Crisis Management

Impact on Himalayan General Insurance Co. Limited after COVID-19

Faculty of Business Administration, Siam University, Bangkok, Thailand