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SECP has proposed expanding insurance tribunals and dispute-resolution committees and introducing an integrated digital complaints system to improve policyholder grievance redressal across Pakistan.
The Securities and Exchange Commission of Pakistan (SECP) has proposed a series of reforms to strengthen the mechanism for resolving insurance policyholders’ complaints, including more insurance tribunals, wider coverage of Small Dispute Resolution Committees (SDRCs) and an integrated digital complaints system.
According to Dawn, the recommendations are contained in SECP’s report, “Strengthening Insurance Grievance Redressal in Pakistan: Current Status and Strategic Way Forward,” which reviewed the country’s existing grievance-resolution mechanisms. These forums collectively received 37,029 complaints during 2025.
Associated Press of Pakistan (APP) reported that SECP has recommended increasing the number of Insurance Tribunals according to geographical requirements and publishing a list of Sessions Courts designated as Insurance Tribunals.
The regulator has also called for the timely appointment of tribunal members to improve the functioning of these forums.
For Small Dispute Resolution Committees, SECP has proposed expanding both their geographical coverage and scope. The regulator has also recommended periodic reviews of the financial thresholds governing the disputes that SDRCs can handle.
A key part of the proposed reforms is digitisation. SECP wants SDRCs to support online complaint submission and document sharing, creating a more accessible process for policyholders seeking resolution.
The regulator has also proposed a formal information-sharing mechanism involving SECP, the Federal Insurance Ombudsman, Wafaqi Mohtasib, insurance tribunals, SDRCs and insurance companies. The objective is to consolidate complaint information and provide a more comprehensive view of disputes across the insurance sector.
SECP has recommended that complaint volumes, resolution rates, disposal times and emerging trends be included in the Insurance Industry Statistics Report. This would provide regulators with data to assess how effectively complaints are being handled and identify areas requiring further action.
The report also addresses overlapping jurisdictions between different grievance forums. SECP has proposed legal and administrative measures to transfer complaints involving public-sector insurers to the Federal Insurance Ombudsman, in line with an understanding reached among relevant authorities.
SECP Chairman Dr Kabir Ahmed Sidhu said stronger coordination and technology could help improve the overall complaint-resolution process. “Through stronger coordination and technology, the SECP aims to reduce complaint-resolution times, improve accountability, and ensure every policyholder has access to an effective grievance redressal forum,” he said.
The proposed framework assigns measures to relevant stakeholders and seeks to improve access to complaint-resolution mechanisms while strengthening accountability across Pakistan’s insurance sector.
