Brief preview of insurance industry of Bangladesh. Influence of life and non life insurance in personal and corporate sectors. Demographic information relating to insurance industry like insurance penetration (%) of GDP in Bangladesh. Comparing insurance penetration (%) between Bangladesh and other countries.

1. Insurance Industry of Bangladesh:
Popularity and Future
Prepared by: Group 05
1. Md. Khalid Saifullah - 10
2. Marufa Tajri - 12
3. Zohirul Islam – 30
4. Mezan Ur Rahaman – 66
5. Shadeed Mahmud – 92
6. Tausiba Rahman Prova –
100
7. Umme Kulsum Upoma – 104
8. Rafiqul Islam - 112
9. Shaila Akter Biva - 154
10.Israt Jahan Mumtarin - 156

2. Introduction
Definition of Insurance
Parties in Insurance
Insurer
Insured
Insurance Types
Life insurance
General Insurance
 Fire Insurance
Marine Insurance

3. Structure of insurance industry in Bangladesh
Ownership:
1. Public sector
2. Private sector
Services:
1. Life insurance
2. General insurance
3. Reinsurance
4. Micro-insurance
5. Takaful insurance
Regulations:
IDRA and It’s focus areas

4. Life and Other Personal Line of Insurance in
Bangladesh
Life insurance:
1.Term insurance
2.Whole life insurance
3.Endowment policies
4.Money back policy
Other Personal Line of Insurance:
1.Home insurance
2.Disability insurance
3.Auto insurance

5. Corporate Line of Insurance Business in Bangladesh
Some of the most popular corporate insurance
business policies in Bangladesh are:
 Fire and Allied Perils Insurance.
 Marine Insurance.
 Industrial All Risk Insurance.
 Business Owners Policy Insurance.
 General Liability Insurance.

6. Corporate Line of Insurance Business in Bangladesh
(Contd.)
 Workers’ Compensation Policy Insurance.
 Cyber Insurance.
 Directors and Officers Insurance Policy.

7. Demographic Information Relating to Insurance
Industry
 The insurance industry in Bangladesh is very small compared
to its economy and the number of insurance policyholders is
still not increasing satisfactorily.
 Bangladesh’s insurance sector, life insurance constitutes a
73.5% share of its insurance market and non-life insurance a
26.5% share.
 Bangladesh lacks insurance products in areas that could prove
imperative to its growing economy and population.

8. Trend of Insurance Penetration in Bangladesh
0.89%
0.77%
0.71%
0.63%
0.52% 0.53%
0.24% 0.24% 0.24% 0.22% 0.18% 0.19%
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
0.80%
0.90%
1.00%
2010 2011 2012 2013 2014 2015
Life
Non Life

9. Insurance Penetration in Bangladesh vs Other
Countries
0.57%
3.70%
2.42%
10.61%
8.86%
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%
Bangladesh
India
Vietnam
United Kingdom
Japan
Premium % in GDP
Premium % in GDP

10. 1. Lack of Transparency and Trust
2. Ignorance and Lack of Awareness
3. Lack Compulsory Insurance System
4. Vague Terms and Conditions
5. Lack of Specialized Labor Force
6. Lack of Innovation and Product Diversifications
Reasons for Low Popularity of Insurance in
Bangladesh

11. 7. Poor Economic Conditions
8. Poor Risk Management
9. Delaying in Claim Settlement
10. Lack of Information Technology
11. Centralization Policy
12. Lack of Marketing Policy
Reasons for Low Popularity of Insurance in
Bangladesh (Contd.)

12. • Building of Transparency and Trust
• Working for Creating Awareness Among People
• Adding Clear Terms and Conditions
• Making Specialized Labor Force
• Inventing New Products
• Quick Claim Settlement
• Applying New Marketing Policy
• Ensuring Government’s Monitoring and Supporting
Potential Solutions and Future Prospects of the
Industry in Our Country

13. Innovative Insurance Ideas
• Bancassurance
• Splitsurance
• Telematics Insurance
• Go-girl
• Peer-to-Peer
Bancasurance and Other Innovative Insurance Ideas
and The Potentiality of Bancassurance in Bangladesh
Initiating Bancassurance successfully
• Formal agreement between the banks and insurance
companies
• Proper guidelines are necessary
• The government and concerning authorities must pass
necessary laws.
Potentiality of Bancassurance
• Bank’s broad network
• Customer credibility in banks

14. Conclusion

15. Thank You!