A comprehensive research initiative has been launched to assess the current state of Bangladesh’s insurance industry, identify major challenges and explore possible policy directions for its future development.
The Department of Banking and Insurance at the University of Dhaka and Insurance News BD have signed a memorandum of understanding (MoU) to jointly conduct the study, titled “Insurance Sector of Bangladesh: Reality, Challenges and Way Forward”.
The research will undertake an evidence-based assessment of the insurance industry, focusing on its structure, growth, performance and contribution to the economy. Both life and non-life insurance markets will be covered, allowing the study to examine the sector from different perspectives.
Key areas of research will include insurance penetration and density, product development, distribution channels and claims settlement. These issues are central to understanding how insurance services reach customers and how effectively policyholders receive the benefits associated with their policies.
The study will also examine governance, regulatory arrangements and institutional issues within the sector. Challenges linked to technology and human resources will form another part of the research, reflecting the importance of operational capacity and technological development in the delivery of modern financial services.
Consumer confidence and service quality will also be assessed. The researchers will examine public awareness of insurance and consider the sector’s role in financial inclusion. These areas are expected to provide a broader understanding of the factors that influence people’s engagement with insurance services.
The research will draw on both primary and secondary data, supplemented by consultations with relevant stakeholders. This will allow the study to incorporate information from existing records alongside direct insights from people and organisations connected to the insurance industry.
Under the agreement, the Department of Banking and Insurance at the University of Dhaka will lead the research design, methodology and data analysis. It will also maintain responsibility for academic independence and research integrity throughout the study.
Insurance News BD will serve as the sponsoring and collaborating partner. It will provide financial support, relevant industry data and documents, investigative materials and sector-specific expertise. The organisation will also help facilitate engagement with relevant stakeholders where possible.
Research independence has been given particular emphasis in the MoU. Although Insurance News BD will contribute industry knowledge and provide input on factual accuracy and practical relevance, the university department will retain responsibility for the analysis, findings and recommendations arising from the research.
The initiative is intended to bring academic research and practical industry knowledge closer together. The study will also consider the wider role of insurance in risk management, long-term savings, financial inclusion and economic stability.
The research is scheduled to begin immediately and is expected to be completed by February 2027. Its findings will be compiled into a final research report, which will present an assessment of the sector’s current position, key challenges and possible policy directions for its future development.
