There is a need for diversification of insurance products in the country, in order to attract more people to come under insurance coverage and thus contribute more to the national economy, said speakers at a programme on Sunday.
They also underscored the need for capacity-building of insurers, development of human resources in the sector and further empowerment of the regulator.
They came up with the observations at the launch of "Rupali Shashtyosheba Digital OPD" -- a virtual healthcare platform introduced by the Rupali Insurance Company Limited -- at a city hotel.
Insurance Development and Regulatory Authority of Bangladesh (IDRA) Chairman Mohammad Jainul Bari attended the function as the chief guest, while Chairman of Rupali Insurance Mostafa Golam Quddus presided over the ceremony.
In his speech, Jainul Bari said the country's insurance sector's contribution to the national economy is much lower than expected.
The lack of ethics and the shortage of skilled manpower are two of the prevailing challenges in the country's insurance sector, he observed. "Amid various challenges, the sector in the country has a potential, too."
"Develop products and services considering the tendency and the need of the new generation," he asked the insurers.
Hailing the new product, Mr Bari said it will help the people get doctors advice without any hassle.
Speaking on the occasion as a special guest, Bangladesh Insurance Association (BIA) President Sheikh Kabir Hossain said the insurance sector is going through different challenges, including unhealthy competition and malpractices.
He laid emphasis on empowering the IDRA further to check illegal practices by the imprudent insurers.
Managing Director of Janata Bank Md Abdus Salam Azad attended the event as a special guest too, while IDRA Member (Non-Life) Md Nazrul Islam as the guest of honour.
Rupali Insurance's Chief Executive Officer P K Roy, Additional Managing Director Fauzia Quamrun Tania, Independent Director Sheikh Mohammad Danial as well as senior officials and branch heads were present.
Briefing the Digital OPD, Mr Danial said Rupali Shashtyosheba is a service-based product.
The platform offers various services related to healthcare, including doctor's appointment, cloud storage for medical reports and prescription management.
In exchange for a premium of TK 1,149.00, inclusive of VAT, the policy holder and another member of his/her family will be able to enjoy medical consultation service from a panel of 200 foreign doctors 24X7, round the year, he added.
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