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Insurance industry contributes to growth

Managing Director & CEO Asia Insurance Limited


Bangladeshpost
Published : 04 Nov 2019 07:29 PM | Updated : 05 Sep 2020 11:08 PM

Non-traditional insurance services like liability insurance, micro insurance, personal accident insurance, health, travel, pension schemes are considered as strong tools for rapid expansion of non- life insurance in the country.

The insurance industry has high potential to contribute in the country's economic growth. The policy makers should adopt effective measures to make optimum utilization of opportunities and to tackle the existing threats so that healthy development and expansion of the industry is ensured. 

Integrated computer software system should be introduced from head office to field level activities of the companies for the sake of transparency, accountability and to protect the interest of customer. 

Ensuring  compulsory insurance coverage for all Comprehensive Motor insurance, all public and semipublic properties and private high-rise buildings is most significant.

IDRA team is working hard to implement National Insurance Policy phase by phase. 'BirodhNispotti Committee', formed by IDRA to resolve dispute regarding settlement of claim would work contribute significantly.

We think with the close supervision of the IDRA, life insurance sector in Bangladesh will be seen in a better look and the image crisis as prevailed in the insurance sector will be in a befitting manner as the IDRA team is working harder than before. Bangladesh Insurance Association (BIA) promotes the vital role of insurance industry and protects the interest of both of member Company and clients’ interest for the development of the sector.

The BIA mainly aims to act on behalf of its members both collectively and individually in any matter affecting their interest, to issue tariffs and regulate rating of risks, to approach the government time to time to take steps convenient for the interests of the insurance industry as a whole.