Leading InsurTech Companies in Bangladesh
The rapidly evolving insurtech landscape of Bangladesh is witnessing several companies changing the modus operandi of insurance being offered and accessed. The following are some of the leading insurtech firms in the country:
1. GoodHope Insure
Goodhope Insure is the one innovative InsurTech platform changing the face of the insurance industry in Bangladesh. The company has a wide range of insurance from life, health, travel, car, bike, and group insurance. GoodHope uses technology to provide digital experiences through which customers access, manage and claims their policies easily.
It is user-friendly and offers quick and effective solutions so that they can easily do their insurance dealings. In line with these, and among other things, Goodhope Insure offers digital transformation to drive improvements in customer experience.
2. Green Delta Insurance PLC
Green Delta Insurance PLC (GDIC), established in 1985, heralded the introduction of technology in insurance services in Bangladesh. GDIC has developed various digital solutions maintaining its quality of customer convenience and operational efficiency. These include online policy management and claims processing.
3. Pragati Insurance Limited
Pragati Insurance Limited (PIL) was established back in 1986 and is one of the foremost private non-life insurance companies in Bangladesh. The company has undergone a digital transformation by making its service delivery online for the convenience of customers and using technology to simplify and bring customer access to various stages of the insurance process.
4. Milvik (BIMA)
Milvik-the name controversy BIMA-is a Swedish fintech that ventured into Bangladesh in 2012. Focusing on microinsurance, it uses mobile technologies to sell affordable life and health insurance for underserved masses. Their mobile application facilitates policy management and provides telemedicine services to boost accessibility for the insurance service.
5. Chhaya
Chhaya is an emerging insurtech company in Bangladesh. That aims to create a revolution in the insurance industry by providing digital solutions specially catering to the local market. Chhaya caters to the needs of the uninsured population through user-friendly platforms and innovative insurance products by making insurance accessible and affordable.
6. SBK Tech Ventures
SBK Tech Ventures is a major venture capital firm in Bangladesh. It does not operate in the InsurTech sector. But invests in early-stage tech companies, including those relevant to InsurTech. The invaluable contribution they have made towards innovation and growth is changing the insurtech startup scene in the country.
The growing diversity of the insurtechs in Bangladesh to date is evidenced by these companies that leverage technology to make insurance more accessible, affordable, and efficient.
