The Department of Banking and Insurance at the University of Dhaka and Insurance News BD have signed a MOU to jointly conduct a comprehensive study on the country's insurance sector.
The study titled “Insurance Sector of Bangladesh: Reality, Challenges and Way Forward,” will examine the current state of the industry and identify key challenges and possible policy directions for its future development.
Under the agreement, the two sides will undertake an evidence-based assessment of Bangladesh's insurance industry, focusing on its structure, growth, performance and contribution to the economy. The study will cover both life and non-life insurance markets, including insurance penetration and density, product development, distribution channels and claims settlement.
It will also examine governance, regulatory and institutional issues, as well as challenges related to technology and human resources. Consumer confidence, service quality, financial inclusion and public awareness of insurance will also form part of the research. The study will draw on primary and secondary data, along with consultations with relevant stakeholders.
The Department of Banking and Insurance will lead the research design, methodology and data analysis while ensuring academic independence and research integrity. Insurance News BD will act as the sponsoring and collaborating partner, providing financial support, relevant industry data and documents, investigative materials and sectoral expertise, as well as facilitating stakeholder engagement where possible.
The MoU also emphasises research independence. While Insurance News BD will provide data, industry knowledge and input on factual accuracy and practical relevance, the Department of Banking and Insurance will retain responsibility for the analysis, findings and recommendations.
The initiative seeks to bridge academic research and industry knowledge and contribute to a better understanding of Bangladesh’s insurance sector, particularly its role in risk management, long-term savings, financial inclusion and economic stability.
The research will begin immediately and is expected to be completed by February 2027, with the findings to be presented in a final research report.