Discuss (a) claim settlement ratio

The liberalisation's frame: the pre-liberalisation world — the state-dominated market (the Rastriya Beema Sansthan's-and-the-few-companies' era; the controlled market's faces); the 1990s' turn (the economy's opening — the Insurance Act 2049's liberal-licensing framework; the private- and-foreign-investment faces — the joint-venture companies' entry); the liberalisation's logic (the competition's benefits: the choice's expansion, the price's efficiency, the service's quality; the market's deepening — the penetration's rise). The Nepal's liberalisation timeline: the 2049 Act's licensing (the companies' proliferation — the 1990s'-2000s' new-entries); the sector's maturation (the consolidation's-and-regulation's era); the 2019-2079 modernisation (the Insurance Act 2079's regime — the capital's enhancement: the merger-and-consolidation wave's statutory push); the current market (the dozens-of-life-and-non-life companies + the national reinsurer — the structural picture).