The Department of Banking and Insurance at the University of Dhaka and Insurance News BD have signed a memorandum of understanding (MoU) to conduct a comprehensive study of Bangladesh’s insurance industry, with the aim of identifying key challenges and possible policy directions for its future development.
Titled “Insurance Sector of Bangladesh: Reality, Challenges and Way Forward”, the study will assess the current condition of the country’s insurance sector and examine areas that could influence its long-term growth. The research will cover both life and non-life insurance markets, providing an evidence-based assessment of the industry’s structure, performance and contribution to the wider economy.
Among the issues to be examined are insurance penetration and density, product development, distribution channels and the process of settling insurance claims. These areas are closely linked to how effectively insurance services reach consumers and how much confidence policyholders place in insurance providers.
The research will also assess governance, regulatory and institutional challenges within the sector. Technology and human resources will form another part of the study, reflecting the changing requirements of financial services and the need for insurance companies to adapt to new methods of delivering services.
Consumer confidence and service quality will receive particular attention. The researchers will also examine public awareness of insurance and its relationship with financial inclusion. A broader understanding of these issues could help identify obstacles that prevent individuals and businesses from making greater use of insurance products.
The study will rely on both primary and secondary sources of information. Researchers will also consult relevant stakeholders to gather practical perspectives and obtain a broader picture of the industry’s present condition.
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 process.
Insurance News BD will serve as the sponsoring and collaborating partner. Its responsibilities 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 specifically provides for research independence. Although Insurance News BD will contribute industry information and offer input on factual accuracy and practical relevance, responsibility for the research analysis, findings and recommendations will remain with the Department of Banking and Insurance.
The initiative is intended to strengthen the connection between academic research and practical knowledge from the insurance industry. Its broader objective is to improve understanding of the sector’s role in managing financial risks, encouraging long-term savings, expanding financial inclusion and supporting economic stability.
The study 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 is expected to present an assessment of the sector’s present realities, major challenges and possible policy directions for its future development.