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Health Microinsurance Schemes
of 10 Micro Insurance Service
Providers in Bangladesh
Submitted to:
Afrin Sultana
Lecturer
Department of Banking & Insurance
Faculty of Business Studies
University of Dhaka
Submitted by:
Group -2
MBA 22nd batch (Insurance)
Department of Banking & Insurance
Faculty of Business Studies
University of Dhaka
Serial no Name MBA Roll
1. MD. Rizwanul Hoque 22-1100
2. MD. Mehedi Hasan 22-253
3. Mohammad Mamunur Rashid 22-255
4. Md. Khalid Hossain 22-887
5. Jannatul Naim 22-232
6. Sabbir Hossain 22-385
Group
2
MD. Mehedi Hasan ID
22-253
Topics Covered:
● Basic Concept of Microinsurance
● Features of Microinsurance
● Core Elements of Microinsurance
Basic Concept of Microinsurance
Protection of low-income people against specific perils in
exchange for premium proportionate to the risks involved.
● Looks to aid low-income families
● Offers tailored insurance plans
● coverage value is lower than the usual
● Often found in developing countries
● Insured people pay considerably
smaller premiums
Timeline of major Microinsurance projects in Bangladesh
Md. Khalid Hossain ID
22-887
Topics Covered:
● Objectives of the research
● Data collection procedure
● Data analysis procedure
● Study area of the report
● Limitations of the report
Objectives of the research
To identify the
microinsurance
facilities available to
the rural population
of Bangladesh.
To identify the
present scenario of
the microinsurance
market in the
country.
Facilities
Present
Scenario
To identify the
satisfaction level of the
customers of
microinsurance
products of Bangladesh.
Satisfaction
Research Methodology
 Primary resources
 Secondary sources
This study is linked with the
activity of multiple Private
Insurance Companies and
NGOs/MFIs. The concept of
microinsurance and health
microinsurance products
being offered are discussed.
Data Collection Data Analysis
 Quantitative Analysis
 Qualitative Analysis
Study Area Limitations
 Lack of available data
 Authenticity of available data
 Restrictions due to pandemic
 Lack of funding
Jannatul Naim ID
22-232
Topics Covered:
● Introduction to the selected organizations
● Objectives of the organizations’
Microinsurance Products
 Meghna Life Insurance Company Limited
 Pragati Life Insurance Limited
 Trust Islami Life Insurance Company
 BRAC
 Society for Social Services
Introduction to the selected organizations
 Guardian Life Insurance Limited
 Delta Life Insurance Company Limited
 Bangladesh Jiban Bima Corporation
 Sonali Life Insurance Company Limited
 Sandhani Life Insurance Company Limited
Objectives of the organizations’
Microinsurance Products
Offer insurance products to the low-income population
Assist the marginal people to manage their risks
Ensure community-wide benefits
Ensure financial stability of the marginal people
Minimize vulnerability resulting from poverty
Mohammad Mamunur Rashid ID
22-255
Topics Covered:
● Theoretical overview
● Demographic analysis
Theoretical overview
Microinsurance concept
in Bangladesh
 Insurance Company
 NGO
 MFI
Microinsurance market
of Bangladesh
Microinsurance products
in market
Micro
insurance
General
Micro
Insurance
General
Micro
Insurance
Micro
takaful
Deposit
Pension
Schemes
Age Group Demographic Analysis Marital Status
Gender Level of education
Area of residence Demographic Analysis
Profession
Monthly Income
Sabbir Hossain ID
22-385
Topics Covered:
● Infographic Analysis
Name of the
product purchased
Policy includes
healthcare support
The insurance provider provides enough information to the
existing clients (standards and features)
It is easy for you to access facilities that are
provided by your microinsurance provider
Infographic Analysis
Microinsurance providers in
Bangladesh are conducting
their business ethically
Infographic Analysis
The Microinsurance
provider provides an
affordable premium rate.
Microinsurance providers create trust among the existing
and prospective clients about the Microinsurance products.
The claim settlement process of your
microinsurance provider is simple and easy going
MD. Rizwanul Hoque ID
22-1100
Topics Covered:
● Findings
● Recommendations
● Conclusion
According to the study, present clients of the microinsurance products being
offered by the selected organizations are not quite up to the mark to fulfil the
expectations of the clients. The dissatisfaction of the present clients is
resulting in less popularity among the potential clients of this products.
The providers of these products are not properly successful in demonstrating
the standards and features of the products to the existing and potential
customers. This would result in declining engagement in the long run. Overall, it
can be said that the micro-insurance sector of Bangladesh is not very effective.
Findings Of The Study
Recommendations
The government and relevant stakeholders
should be more lenient
There should be more banks to offer Microinsurance
products in the Bangladeshi market
The channels of distribution should be innovative
instead of the traditional way
Revised/routine finance structure by estimating the
overall risk of health care expenses
Interim strategies should be adopted to include mixes of
community cooperative and enterprise-based insurance
and social health insurance
Thank you
for your attention

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Health microinsurance schemes of 10 micro insurance service providers in bangladesh

  • 1. Health Microinsurance Schemes of 10 Micro Insurance Service Providers in Bangladesh
  • 2. Submitted to: Afrin Sultana Lecturer Department of Banking & Insurance Faculty of Business Studies University of Dhaka Submitted by: Group -2 MBA 22nd batch (Insurance) Department of Banking & Insurance Faculty of Business Studies University of Dhaka
  • 3. Serial no Name MBA Roll 1. MD. Rizwanul Hoque 22-1100 2. MD. Mehedi Hasan 22-253 3. Mohammad Mamunur Rashid 22-255 4. Md. Khalid Hossain 22-887 5. Jannatul Naim 22-232 6. Sabbir Hossain 22-385 Group 2
  • 4. MD. Mehedi Hasan ID 22-253 Topics Covered: ● Basic Concept of Microinsurance ● Features of Microinsurance ● Core Elements of Microinsurance
  • 5. Basic Concept of Microinsurance Protection of low-income people against specific perils in exchange for premium proportionate to the risks involved. ● Looks to aid low-income families ● Offers tailored insurance plans ● coverage value is lower than the usual ● Often found in developing countries ● Insured people pay considerably smaller premiums
  • 6. Timeline of major Microinsurance projects in Bangladesh
  • 7. Md. Khalid Hossain ID 22-887 Topics Covered: ● Objectives of the research ● Data collection procedure ● Data analysis procedure ● Study area of the report ● Limitations of the report
  • 8. Objectives of the research To identify the microinsurance facilities available to the rural population of Bangladesh. To identify the present scenario of the microinsurance market in the country. Facilities Present Scenario To identify the satisfaction level of the customers of microinsurance products of Bangladesh. Satisfaction
  • 9. Research Methodology  Primary resources  Secondary sources This study is linked with the activity of multiple Private Insurance Companies and NGOs/MFIs. The concept of microinsurance and health microinsurance products being offered are discussed. Data Collection Data Analysis  Quantitative Analysis  Qualitative Analysis Study Area Limitations  Lack of available data  Authenticity of available data  Restrictions due to pandemic  Lack of funding
  • 10. Jannatul Naim ID 22-232 Topics Covered: ● Introduction to the selected organizations ● Objectives of the organizations’ Microinsurance Products
  • 11.  Meghna Life Insurance Company Limited  Pragati Life Insurance Limited  Trust Islami Life Insurance Company  BRAC  Society for Social Services Introduction to the selected organizations  Guardian Life Insurance Limited  Delta Life Insurance Company Limited  Bangladesh Jiban Bima Corporation  Sonali Life Insurance Company Limited  Sandhani Life Insurance Company Limited
  • 12. Objectives of the organizations’ Microinsurance Products Offer insurance products to the low-income population Assist the marginal people to manage their risks Ensure community-wide benefits Ensure financial stability of the marginal people Minimize vulnerability resulting from poverty
  • 13. Mohammad Mamunur Rashid ID 22-255 Topics Covered: ● Theoretical overview ● Demographic analysis
  • 14. Theoretical overview Microinsurance concept in Bangladesh  Insurance Company  NGO  MFI Microinsurance market of Bangladesh Microinsurance products in market
  • 16. Age Group Demographic Analysis Marital Status Gender Level of education
  • 17. Area of residence Demographic Analysis Profession Monthly Income
  • 18. Sabbir Hossain ID 22-385 Topics Covered: ● Infographic Analysis
  • 19. Name of the product purchased Policy includes healthcare support The insurance provider provides enough information to the existing clients (standards and features) It is easy for you to access facilities that are provided by your microinsurance provider Infographic Analysis
  • 20. Microinsurance providers in Bangladesh are conducting their business ethically Infographic Analysis The Microinsurance provider provides an affordable premium rate. Microinsurance providers create trust among the existing and prospective clients about the Microinsurance products. The claim settlement process of your microinsurance provider is simple and easy going
  • 21. MD. Rizwanul Hoque ID 22-1100 Topics Covered: ● Findings ● Recommendations ● Conclusion
  • 22. According to the study, present clients of the microinsurance products being offered by the selected organizations are not quite up to the mark to fulfil the expectations of the clients. The dissatisfaction of the present clients is resulting in less popularity among the potential clients of this products. The providers of these products are not properly successful in demonstrating the standards and features of the products to the existing and potential customers. This would result in declining engagement in the long run. Overall, it can be said that the micro-insurance sector of Bangladesh is not very effective. Findings Of The Study
  • 23. Recommendations The government and relevant stakeholders should be more lenient There should be more banks to offer Microinsurance products in the Bangladeshi market The channels of distribution should be innovative instead of the traditional way Revised/routine finance structure by estimating the overall risk of health care expenses Interim strategies should be adopted to include mixes of community cooperative and enterprise-based insurance and social health insurance
  • 24. Thank you for your attention