Read the latest edition of AIR and MEIR as an Interactive e-book

Jan 2021

Bangladesh: Strong insurers urged to lead in life market transformation

Source: Asia Insurance Review | Nov 2019

There needs to be serious thinking about enabling newer insurance distribution channels, incentivising agents to take up a long-term career in insurance, product innovation and revisiting existing regulations, in order to tap opportunities in the life insurance sector in Bangladesh.
Financially strong insurers with long-term visibility need to take the lead; and with the help of the regulatory bodies, these insurers can make a difference to the overall landscape of the life insurance market Delta Life Insurance CEO Adeeba Rahman told Dhaka Tribune.
At present, almost 90% of gross life insurance premiums is generated by the top 10 players, leaving the remaining 22 players only 10% of the market.
Ms Rahman says that factors promoting life insurance growth include increasing per capita income, higher life expectancy, a large young working population and a current insurance penetration rate of less than 1%.
She says that the life sector needs to attract young talents who can build a career in insurance, because youths today are conversant with modern technology and are willing to experiment with new things to bring fast-paced results. A 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.