Group "B" presented on Jiban Bima Corporation (JBC), the state-owned life insurance company in Bangladesh. JBC was established in 1973 following nationalization of the insurance industry. It has a presence across Bangladesh with various offices and provides over 30 insurance schemes. JBC's vision is to cover risks and offer profits to improve standards of living. While growth has fallen, JBC plans strategic initiatives like new products and international offices to achieve targeted annual growth of 11%. As the sole provider of life insurance in Bangladesh, JBC impacts the economy by encouraging savings, investment and employment.

1. Group Presentation
Of Group “B”

2.  Akhund Manzurul Alam_2741
 Md. Abdur Rakib_2738.
 Md. Saddam Hossain_2745.
 Sharmin Ara_2736.
 Kazi Afsana Rahman Niti_2749.
 Md. Redwan Islam_2417.

3.  What is insurance and life insurance ?
 Evolution of Insurance
 Introducing Jiban bima Corporation
 Objectives of JBC
 Mission & Vision of JBC
 Location
 Services JBC provides
 Existing schemes of JBC
 Premium Calculator of JBC
 Business target of JBC
 Financial analysis of JBC
 Future business plan of JBC
 Impact of JBC on Economy
 Conclusion

4. What is Life insurance ?
It is different from other forms of insurance, the subject matter
of this insurance is life, of a human being where the insurer will
pay the fixed amount of insurance at the time of death or expiry
of certain period.
Insurance can be defined as a co operative device to spread the
loss caused by a particular risk over a number of person who are
exposed to it and who agree to ensure themselves against the
risk

5. “If a child, a spouse, a life partner, or a parent
depends on you and your income, you need
life insurance”
Suze Orman
American author, financial advisor, motivational speaker, and television host.

6. After Partition of
India 1947
1.Eastern Federal Union Insurance company Ltd.
2.Muslim Insurance Company Ltd.
2.Habib Insurance Company Ltd.
Prudential Assurance Company Limited
Evolution of insurance :
4.American Life Insurance Company Limited
1951
13
1961
17
1971
75
The total number of
insurers (life and general)
registered in Pakistan
with in (1951-1971)

7. Foreign Companies
in 1971
1.Norwich Union Life Assurance Society
2.Pearl Assurance Company Ltd.
3.Prudential Assurance Company Ltd.
Evolution of insurance (continued ):
4.American Life Insurance Company Limited

8. Following the independence of Bangladesh in 1971, both life and general
insurance business in the country was nationalized under the Bangladesh
Insurance Order 1972 except foreign insurance companies. Five
corporations were established to absorb, own and control the businesses of
the 75 existing insurance companies, they were :
1.Bangladesh Jatiya Bima Corporation.
2.Karnafuli Bima Corporation.
3.Tista Bima Corporation.
4.Surma Jiban Bima Corporation.
5.Rupsa Jiban Bima Corporation.

9. 1.Karnafuli Bima Corporation.
2.Tista Bima Corporation.
1.Surma Jiban Bima Corporation.
2.Rupsa Jiban Bima Corporation.
Sadharan Bima Corporation.
Jiban Bima Corporation.
On 14, May 1973

11. The Jiban Bima Corporation (JBC) is the lone state-owned life
Insurance company in Bangladesh, which started its maiden journey
on May 14,1973.
JBCs Board of directors:
 M. Shamsul Alam _ Chairman and Director.
 Al-haj Muhammad Azizur Rahman Bachchu _ Director.
 Khondoker Rashidul Huq _ Director.
 Sk. Abdur Rafique _ Director.
 Amalendu Mukherjee _ Director.
 Parikshit Datta Choudhury _ Managing Director.
( Additional Secretary), Jiban Bima Corporation.

12.  Provide life insurance benefit to the people at a
competitive cost.
 Mobilize savings through various schemes and create
funds for economic development of the country.
 Offer products for maximum returns at minimum cost.
 Create awareness among the people to develop savings
habits.
 Develop suitable schemes to meet the need of all
classes of people.

13. Vision :
“A business organization that covers risks and
offers profits to make life a matter.”
Mission:
“To help people improve their standard of
livings with a saving content and create funds
for nation’s economic development.”

15.  Online Services
 Online Premium Payment
 Bonus Information
 Tax Benefits / Rebates
Special Service:
Jiban Bima Corporation has launched Banglalink
Insurance Pay Service to collect Insurance Premium
through Banglalink.

16.  Whole life assurance.
 Endowment assurance.
 Child protection policy.
 Children endowment.
 Anticipated
endowment assurance.
 Pension scheme policy.
 Single payment policy.
 Group term insurance
policy.
 Group endowment
policy.
 Group variable
endowment policy.
 Group pension policy.
 Grameen bima policy.
 Joint life endowment
policy, and many more.
The JBC offers 31 different types of life insurance
schemes, some of those are :

18. During the last five years JBC’s growth rate fell
down substantially. An aggressive plan is urgent to
keep the organization in profitable track. To
achieve the above objective, JBC has planned to
make extensive future business plan in the
following areas stipulating new business target and
increasing number of clients at the proposed
growth rate of11% annually.

20.  Jibon bima Bank
 Jibon bima housing finance and investment
 New Schemes
 planning to allow overseas agencies in 1.London,
2. New York, 3. Los Angeles 4. UAE,
5. Saudi Arabia 6. Malaysia, 7. South Korea and
8. Italy

21.  Life insurance provides security and safety.
 Life insurance brings peace of mind.
 Eliminates dependency .
 Life insurance encourages saving.
 Provides profitable investment.
 Life insurance fulfils the needs of a person.
 Provides employment
As JBC provides only life insurance so the impact of life insurance on
economy is the same of JBC and they are as follows:

22. Jibon Bima Corporation ( JBC ) has the largest network all over the
country with 7 regional, 9 zonal, 68 sales and 354 branch offices and
being the only government life insurance provider JBC has done its
role profoundly over the years.