KARACHI: The Securities and Exchange Commission of Pakistan (SECP) is launching a web-based insurance surveyors' licensing and registration system, named eSInsuranceSurveyors will be effective from March 23.
An official said on Monday that the SECP will not accept paper-based applications for the registration and licensing of insurance sector surveyors after the launch of eSInsuranceSurveyors system i.e. March 23, 2013.
SECP has developed an in-house web-based application for automating the surveyors' licensing and registration process.
It allows the surveyors and authorized surveying officers to file their applications for the grant of licenses and registrations over the internet.
To use the system, each applicant/surveyor (the user) will be required to have a valid eServices Login ID and Password coupled with a valid digital signature. Digital signatures can be obtained from the National Institutional Facilitation Technologies (NIFT).
eSInsuranceSurveyors will not only eliminate paper-based application, but also the licensing and registration system will be more cost effective, efficient and speedier.
In order to provide a better understanding of the system, the Insurance Division of SECP is organizing an orientation workshop in Karachi and in Lahore to highlight the features of eServices Online Surveyors' Licensing & Registration System.
This orientation workshop will take place prior to the launching of the system, in which live demonstration of the processes of the system will also be given for the purpose of developing a thorough understanding of the system and its requirements.
The Graphical User Interface (GUI) of the system is similar to that of the eServices application, and most of the companies that fall under the purview of the SECP are already aware of it and are actively using this application for their respective regulatory filings.
The SECP further seeks active support and cooperation from all the stakeholders in order to make this system a great success.
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