The Dhaka Times Desk A meeting between BASIS and Insurance Development and Regulatory Authority (IDRA) was held at IDRA office.
The meeting discussed various issues related to the advancement of insurtech and creation of a regulatory framework.
The BASIS Standing Committee on FinTech and Digital Payments presented a draft guideline for these insurtech companies and proposed to finalize the draft guideline within 60 days.
In the meeting, Insurance Development and Regulatory Authority Chairman Mohammad Zainul Bari said that the management of our insurance companies is outdated. In order to modernize the insurance companies, improve the quality of services and increase public awareness about insurance, the use of information technology in the insurance sector should be ensured. He also promised to finalize draft guidelines within 60 days considering the role and potential of insurtech companies in building Smart Bangladesh.
In the meeting, Basis President Russell T Ahmed highlighted the importance of insurtech companies for the progress of the insurance sector and called for the need to create a regulatory framework for insurtech companies to conduct business smoothly. He highlighted the role and potential of insurtech companies in building a smart Bangladesh. In order to ensure the maximum utilization of the potential sector like insurtech in building a smart Bangladesh, we need a regulatory framework for insurance companies as well as insurtech companies, through which these insurtech companies can work specifically.
Faheem Mashroor, Chairman of BASIS Standing Committee on FinTech and Digital Payments and CEO of BD Jobs said, “The regulatory structure of insurtech companies must be industry-friendly, so that we can act as partners to insurance companies rather than being technology providers to them. In this case, insurance companies must ensure the use of technology.
Fida Haque, Co-Chairman of BASIS Standing Committee on FinTech and Digital Payments said, “Bangladesh is an emerging economy and insurtech is a promising sector, so many foreign investors are interested in investing in this sector. Many of the insurtech companies operating in Bangladesh are operating illegally or quasi-legally due to the lack of a specific control structure. That is why foreign investors are not encouraged to invest in the companies of our country. Therefore, proper regulatory framework of insurtech companies is essential for us to receive these foreign investments and to run the business smoothly.
It is to be noted that Bimafai CEO Alvi Nizam Nafi, InstaShire Managing Director Rafael Kabir, GBL Fintech Managing Director Mohammad Saifur Rahman, Chaya.xyz Shaun Shahriar were also present in the event. News bulletins.
Things to do to prevent Corona virus
# try to stay at home all the time.
# Follow the rules and use mask when going out for emergency.
# three-layer cloth mask can be washed if desired.
# wash clothes after coming home from outside. Or hang it without shaking for at least four hours.
# Wash hands thoroughly (for at least 20 seconds) with soap or liquid before coming outside.
# plastic PPE or eyes, face, head must be washed thoroughly with detergent and dried after one use.
# Wear PPE made of cloth or clean as described.
# Use a head cap that completely covers the hair.
# Those who have sneeze cough should follow all the rules promulgated by the government. Also, wash hands as directed before and after handling food items, keys, switches, mice, remote controls, mobiles, watches, computer desks, TVs, etc. and after using the bathroom. Those who have dry hands use Moisture after washing their hands. Soap or hand liquid can be used. Why can this virus remain in the crackle (cracked part) of dry hands? Avoid using highly alkaline soaps or detergents.
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