Insurers, regulators, and experts emphasise the importance of addressing and narrowing the insurance protection gap through various measures, including improving insurance awareness, transparency, digitisation, affordability, accessibility, and product innovation. They acknowledge that the fundamental challenges of the sector require engagement with stakeholders across the
Cyclone Sitrang is over and the weather is forecast to be sunny today. But for thousands of people in Bangladesh, including farmers, it is rather gloomy.
The claim settlement ratio of life insurance companies in Bangladesh plunged to its lowest level at least in a decade in 2021 as their capacity to pay out has been reduced by bad investment, excessive costs and business slowdown caused by the coronavirus pandemic.
Insurance companies in Bangladesh should begin preparing their financial statements in line with international standards with a view to ensuring transparency, said speakers yesterday.