KATHMANDU: Sagarmatha Insurance Co Ltd has launched a new insurance product for the first time in Nepal to capitalise on the fast growing Nepali insurance industry.  The event was inaugurated jointly by Fatta Bahadur KC, chairman of Insurance Board and Ram Krishna Manandhar, chairman of SIC, where Chunky Chhetry, CEO of SIC  described their new product offering ‘Sagarmatha VIP on the Spot’, as a fabulous addition to their existing line of credible products, as per a media release issued on Tuesday. Sagarmatha VIP on the Spot is a new product (service) that simplifies the claim settlement procedure for its customers. It facilitates on-the-spot claim settlement for customers as the name suggests. The customers will benefit from hassle-free claim processing with less paperwork and immediate relief from financial burden. In order to provide fast and reliable services, SIC pledges dedicated customer service around the clock 24/7 through a separate department devoted to Sagarmatha VIP on the spot, the release adds.