A new research initiative has been launched to assess the current condition of Bangladesh’s insurance industry, identify its key challenges and explore possible policy directions for 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 comprehensive study, titled “Insurance Sector of Bangladesh: Reality, Challenges and Way Forward”.
The research will provide an evidence-based assessment of the country’s insurance industry, examining its structure, growth, performance and contribution to the economy. Both life and non-life insurance markets will be covered as part of the study.
Researchers will examine several areas that directly affect the development and reach of insurance services. These will include insurance penetration and density, product development, distribution channels and the process of claims settlement. The study is also expected to provide a broader picture of how insurance products are being developed and delivered to customers.
Governance, regulatory arrangements and institutional issues will form another major part of the research. The study will also examine challenges associated with technology and human resources, two areas that have become increasingly relevant to the delivery and management of financial services.
Consumer confidence and service quality will also receive attention. The researchers will assess public awareness of insurance and consider its relationship with financial inclusion. These areas are significant to understanding how effectively insurance services can reach individuals and businesses and how the industry can contribute to wider access to financial protection.
The research will draw on both primary and secondary data. Consultations with relevant stakeholders will also be undertaken to incorporate practical perspectives from those connected with the sector. This approach is intended to combine documentary and statistical evidence with industry experience.
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 be responsible for maintaining academic independence and research integrity throughout the study.
Insurance News BD will serve as the sponsoring and collaborating partner. Its role will include providing financial support, relevant industry data and documents, investigative materials and sector-specific expertise. The organisation will also facilitate engagement with relevant stakeholders where possible.
The MoU places particular emphasis on maintaining the independence of the research. While 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.
The initiative is intended to strengthen the connection between academic research and practical knowledge of the insurance industry. The study will also examine 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 subsequently be presented in a final research report, covering the sector’s present condition, major challenges and possible policy directions for its future development.
