The Securities and Exchange Commission of Pakistan (SECP) has launched a Motor Insurance Repository, a centralized digital system to improve enforcement of mandatory motor third-party insurance. The new initiative aims to ensure all vehicles on Pakistan’s roads are properly insured.
The repository will store complete policy and claims data for all motor insurance customers. SECP says the system will enhance transparency, improve monitoring, and close longstanding compliance gaps in the insurance sector.
All non-life insurers and takaful operators are required to join the system and integrate their data. Companies have been given 60 days to sign an agreement with the Central Depository Company, which will manage and operate the repository.
The digital platform ensures secure storage, central validation, and controlled sharing of data with authorities strictly for verification purposes. According to SECP, the system will help track uninsured vehicles and ensure compliance with the law.
Officials say the repository will make it easier for regulators to monitor motor insurance policies, reduce fraud, and strengthen enforcement across the country. By centralizing all insurance data, authorities will be able to quickly identify gaps and take corrective action.
SECP also expects that the initiative will protect public interest by promoting accountability and fairness in the motor insurance sector. Insurers are urged to complete the integration promptly to benefit fully from the system.
The launch reflects SECP’s broader efforts to modernize Pakistan’s financial and insurance sectors through digital technology. It aims to create a more efficient and reliable system for both insurers and policyholders.
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The Motor Insurance Repository is a major step toward ensuring that every vehicle on Pakistan’s roads has valid insurance coverage. SECP believes the platform will strengthen governance, support regulatory compliance, and improve overall safety for road users.
