It is the combination of all Insurance related issue...

2. Table of Contents
Background
About Insurance
Types of Insurance
Perspectives of Insurance
Economic Situation of Insurance in Bangladesh
Scenario of Bangladesh
Problems of insurance
Ways of Successful
Recommendation
References

3. BACKGROUND…
Bangladesh insurance history traced back to
British rule.
Insurance company act in 1973 by Presidential
Order No. 95.
New insurance act in 2010, to modernize the
sector.
65 Insurance company, 1 public (life), 1 public
(non-life), 18 private (life), 45 private (non-life).

4. WHAT IS
INSURANCE …
Economic institution
Two parties contract
Written Agreement
Distributes the risks
Legal Agreement
Assumes the Risk

5. TYPES OF INSURANCE

6. WHAT IS LIFE
INSURANCE?

7. LIFE INSURANCE…
• A contract where insurer
promises to pay beneficiary
sum of money in exchange of
premium upon the death of
insured person.

8. CONSIDERATION
OF LIFE
INSURANCE …
Age
Gender
Height & Weight
Medical record
Personal habits (smoker, drinker, drug use)
Occupation
**Amount of coverage required**

9. PROPERTY INSURANCE…
It provides protection against most
risks to property.
such as fire, theft and some
weather damage.

10. TYPES OF
PROPERTY
INSURANCE…
Earthquake
insurance
Fire
insurance
Boiler
insurance
Flood
insurance
Home
insurance

11. FIRE INSURANCE…
• Insurance taken out to cover the cost
of damage caused by fire.

12. MARINE INSURANCE…
• It covers the loss or damage of ships, cargo,
terminal which transfer product from origin
point to final destination.
• Two types-
o Marine Cargo Insurance
o Marine Hull Insurance

13. MOTOR INSURANCE…
• It is insurance for cars, trucks, motorcycles,
and other road vehicles in case of accident
or theft.

14. PERSPECTIVE
OF
INSURANCE…
All insurance company mainly
depends on three
perspective. These are-
 Economic perspective
• Security and safety.
• Promote financial stability.
• Facilitate trade and commerce.
• Encourages loss mitigation.
• Helps mobilized savings.
• Development of social sectors.
• Enable risk to be managed more
effectively.

15. PERSPECTIVE OF
INSURANCE(CONT’D)…
• Compensates of certain losses only up to the insured
interest.
• Does not have the right of recovery from the party who
caused the injury.
• Honesty and fairness.
• Similar obligations.
Legal perspective
• Employee requirement, retention and wellness.
• Employment practices liability insurance.
• Protection against consumers lawsuits and
liabilities.
• Commercial property and casualty insurance.
Business perspective

16. ECONOMIC
SITUATION OF
INSURANCE
COMPANY IN
BANGLADESH…
Formation of capital & increase of investment: receive
premiums from insured persons, increase national capitals,
national productions increase.
Distribution of risks: deal with lots of insured people.
Provide safety and security: financial support and
reduce uncertainties in business and human life.
Generates financial resources: generate funds by
collecting premium.
Life insurance encourages savings: a mode of
investment.
Medical support: essential in managing risk in health.

17. SCENARIO OF
INSURANCE IN
BANGLADESH…
insurance sector in Bangladesh has grown up substantially and
deepened remarkably with number of companies in both life and
general segments
Act 1990 provides that fifty percent of all insurance business
relating to any public property shall be placed with the SBC and
the remaining fifty percent of such business may be placed with
this corporation or with any other insurers in Bangladesh.
50% of that business is distributed among the existing 45 private
general insurance companies equally under National Co-insurance
Scheme
1.The company’s place 100% of their reinsurance business with
the SBC.

18. PROBLEMS OF INSURANCE BUSINESS IN BANGLADESH…
In Bangladesh insurance has a great role but the insurance business in our country is not
satisfactory. For some major reasons these happened. The major reasons are-
 Social Issues
 Less Public Awareness
 Centralization
 Economic Issues
 Weak Economy
 Weakness in Industrial Sector
 Higher cost of business
 Political issues
 Political instability
 Lack of supervision from the government
 Problem of planning and administration

19. PROBLEMS OF
INSURANCE
BUSINESS IN
BANGLADESH
(CONT’D)…
• Too much complexity
Legal Issues
• Lack of capital
• Lack of skilled staff
• Lack of training
• Insufficient service
• Lack of advertisement
• Lack of information technology
• Lack of confidence
• Lower rate of savings
• Low return
• Shortage of fund
• Absence of business ethics (etc.)
Other Issues

20. HOW INSURANCE
COMPANIES IN
BANGLADESH CAN BE
MORE SUCCESSFUL ?
Try to better insurance education
Should practice more marketing strategies
Should expand their target customer
Importance to economic development
Enhance training facility
Development of management
Try to earn trust and raise awareness
Collected premiums should be invested into large and
beneficial sectors
Companies must modify their recruitment policy

21. RECOMMENDATION…
In these current era insurance is very important for business or individual . Every company serves
same type of services that’s why the competition increases. We see that Bangladesh face many
problems in these sector; to develop in these sector we have try to solve the problems. And a
insurance company can progress if the economic condition is good. So, if we develop our
economic condition and solve the problems it will help us to progress in insurance business in
Bangladesh.

22. REFERENCES . . .
en.wikipedia.org/wiki/insurance
Sector wise company list/
insurance company
Google.com/search-insurance
definition
slideshare.net