Bring insurance sector under full digital system: PM

Prime Minister Sheikh Hasina on Tuesday said the insurance sector would have to be brought under a complete automation and digitized system to render hassle free services and thus encourage the people about insurance.

“Now, we have made our country digitized--I Think, the insurance sector must be brought under a full automation and digital system,” she said.

The premier was addressing a function as the chief guest marking the observance of the ‘National Insurance Day’ at the Bangabandhu International Conference Centre (BICC), joining virtually from her official Ganobhaban residence in the city.

The Finance Ministry and the Insurance Development and Regulatory Authority (IDRA) jointly organised the function.

The day is being observed with the theme ‘Bimay Surokkito Thakle Agiye Jabo Sobai Mile’ (If protected with insurance, we will advance together’.

The prime minister said that the masses would be encouraged to do insurance policies if the process of depositing the premium alongside collecting the insurance claim can be made easier using the technology.

She asked all concerned particularly the public and private insurance companies to take effective measures to create awareness among the people about doing insurance policy using the modern technologies.

She added: “You have to make people understand what benefits they will get if they do insurance policies or what losses they will face in case of not doing the policies.”

The premier asked the insurance companies to take proper measures as confidence of the people in insurance would increase through rendering better services giving topmost priority to the clients.

Describing insurance as an amanat (deposit) of the people, she directed the insurance businessmen to handover the insurance claim and other benefits to the clients on time.

She continued: “A system has to be developed as the clients can get their insurance claim in due time without any hassle.”

The prime minister instructed the insurance companies to be more alert about false claims of insurance referring to some fire incidents in jute and RMG factories.

Sheikh Hasina called upon all concerned to have a wary eye at fraudulence in the insurance sector terming the third party insurance as an act of cheating.

The premier added: “I have asked to shun third party insurance. Now, it would have to be stopped as it is nothing but an act of fraudulence. I am also a victim of it.”

The premier greeted the insurance companies to introduce the state-of-the-art technology Unified Messaging Platform (UMP) to protect the interest of the customers along with opening ‘Bangabandhu Surokhya Bima’ policy for differently abled people from this year.

Finance Minister AHM Mustafa Kamal presided over the event virtually while Secretary of Financial Institutions Division, Ministry of Finance, Sheikh Mohammad Salim Ullah gave a welcome address.

Chairman of the IDRA Dr. M. Mosharraf Hossain and Bangladesh Insurance Association (BIA) President Sheikh Kabir Hossain, also spoke on the occasion.

On behalf of the prime minister, Sheikh Mohammad Salim Ullah handed over the ‘Bima Padak’ to five persons for their outstanding contribution to the insurance sector and ‘Bangabandhu Surokhya Bima Policy’ to two differently able children.