Industrial technology of Bangladesh

1. INSURANCE INDUSTRY OF
BANGLADESH
PRESENTED BY
KASHPRIYA AKTER
ID: SN-O30-075

2. TABLE OF CONTENTS
No. Details Page1
01 Background Of Insurance Industry 03 - 05
02 Opportunities And Challenges 06 - 07
03 Lessons From This Course 08

3. BACKGROUND
Year Describe
1973 Government of Bangladesh has set up two corporations-SadharanBima
Corporation(SBC) & Jiban Bima Corporation(JBC)
1984 Private sector was allowed to conduct business
2010 The new laws formed IDRA & Insurance Act
HISTORY:

4. CURRENT SITUATION:
 Bangladesh ranks 76th in the world in it’s
insurance industry
 In private sector, life insurance has a national
income of around 62,429 to 66,879 million Taka
in 2021-22
 Non-life private insurance income from 21,038 to
22,670 million in 2021 to 2022
 No captive insurers in Bangladesh

5. CONTRIBUTION IN ECONOMY
 In the year 2021, contribution to GDP is 0.29% by Life & 0.11% by Non-life,
totaling 0.40%.
 World market share is 0.02 percent.
RULES AND REGULATION
 Insurance Development & Regulatory Authority (IDRA) In 2010
 Insurance Act 2010

6. OPPORTUNITIES AND CHALLENGES
 Increase of capital investment
 Maintenance of national wealth
 Major corruption
 Reduction of social burden
 Not knowing what customers expect
PRE-COVID19:

7. POST-COVID19:
 Transferring risks
 Providing more support to insurer
 Increase of awareness
 Sub-district branches closed
 Service-performance gap

8. LESSONS FROM THIS COURSE
 To read documents carefully and to be clear about every
term used in a contract
 Financial strength
 Maintaining standard of living
 Protecting the future child
 To verify before trusting any representative or agent
 Some new terms & meanings
THANK YOU…