InsurTech to be a milestone in building Smart Bangladesh

 
If all stakeholders related to InsurTech including BASIS, IDRA and Bangladesh Insurance Association work together, the insurTech sector will serve as a new milestone in implementing Smart Bangladesh said Planning Minister MA Mannan on Tuesday.He was addressing a programme titled 'InsurTech - A New Milestone Towards Smart Bangladesh' organized by Bangladesh Association of Software and Information Services (BASIS) at a city hotel . 

At the programme, Planning Minister MA Mannan was present as the chief guest. Mohammad Zainul Bari, Chairman of the Insurance Development and Regulatory Authority (IDRA) was present as special guest in the programme and Sheikh Kabir Hossain, President of Bangladesh Insurance Association (BIA) was present as guest of honour. BASIS President Russell T. Ahmed presided over the programme.  

Abu Daud Khan, Vice-President (Admin) of BASIS addressed the welcome speech and Fida Haq, Co-Chairman of BASIS Standing Committee on FinTech & Digital Payment, presented the keynote at the programme.Planning Minister MA Mannan said, "We have seen the development of this country in the last 15 years under the leadership of Prime Minister Sheikh Hasina, which has brought a tide to the country's economy overall. Insurance services in India contribute much more to GDP than ours"

IDRA Chairman Mohammad Zainul Bari said, "People have lost confidence in this sector due to limited knowledge about insurance and non-receipt of insurance claims on time. The insurance sector has a lot of potential so the use of technology can restore confidence."Bangladesh Insurance Association President Sheikh Kabir Hossain said, "Insurance, Bangabandhu and liberation war are closely related. Insurance sector is the most neglected sector. Reliance on insurance company information and premiums is important when making budget proposals in developed countries".BASIS president Russell T. Ahmed said, "InsurTech will play an important role in implementing Smart Citizen and Smart Society, the two pillars of Smart Bangladesh. ICT is important from the centre to the edge of the country. To build Smart Bangladesh, it has to be smart in all areas and in this case ICT will act as the nucleus."