A Problem and Prospets of Insurance Business in Bangladesh and Ways to Overcoming the Problem.

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BANGLADESH UNIVERSITY of BUSINESS & TECHNOLOGY
Report on
A problem and prospets of insurance business in Bangladesh and ways to overcoming the problem.

Prepared For……………..
Md. Amdadul Hoque
Lecturer, School of Business
BUBT

Prepared by…………………
Id Md. Maher Hasan 08092101-346

Md. Mazharul Islam 08092101-347

Md. Tohinur Rahman 08092101-355

Date of submission 16th March , 2009 Letter of Transmittal 16th March , 2009

Md. Amdadul Hoque
Faculty, Banking & Insurance
School of Business
BUBT
Subject: Report submission.
Sir,
We are pleased to submit the report about “A problem and prospets of insurance business in Bangladesh and ways to overcoming the problem.” Our main incentive was to prepare this report according to your guideline and what we have most relevant and logical. We appreciate the opportunity that you have given us and thankful to you for your help throughout the making of this report. Sincerely yours,

Md. Maher Hasan 08092101-346
Md. Mazharul Islam 08092101-347
Md. Tohinur Rahman 08092101-355

Acknowledgement

We really enjoyed working on this report . At the time of completing different parts of the report like collecting information from different source and working with the group members and then compile different parts of the report and so on. This report is a required term paper of our “Banking & Insurance” course and our honorable course faculty, Mr. Md. Amdadul Hoque is the person who has guided us throughout preparing the report . We are thankful to him and we have tried to make this report as his instruction. We would like to thank all mighty Allah for keeping everything on right track. Finally, we would like to thank our parents and friends without whose support it was impossible for us to complete the report.

OBJECT OF REPORT …………………………………………………………………………... 05 BACKGROUND OF THE INSURANCE BUSINESS IN BANGLADESH…………………… 06 INSURANCE COMPANIES IN BANGLADESH

Genarel insurance companies in our country…………………………………………… 07

Life Insurance companies in Bangladesh ………………………………………………… 08 PROBLEMS OF INSURANCE BUSINESS IN BANGLADESH
1.1) Lack of trustworthiness……………………………………………………………………………… 09 1.2) Low income of the people………………………………………………………………………… 09 1.3)Unattractive offerings………………………………………………………………………… 09 1.4)Lack of information about the insurance companies…………………………………. 09 1.5)High service processing cost………………………………………………………. 09 1.6) Less convincing sales people…………………………………………………….. 09 1.7) Lengthy process to get payment after incidents…………………………… 09

PROSPECTS OF INSURANCE BUSINESS IN BANGLADESH……………………………… 10 CONCLUSION AND RECOMMENDATIONS…………………………………………………... 11&12 BIBLIOGRAPHY ………………………………………………………………………………….. 13

OBJECT OF REPORT
This study addresses the findings of the prolem of insurance companies in public and private sectors in Bangladesh and to suggest policy measures for improving insurance services delivery process in Bangladesh. The following research questions were addressed: what are the ways of overcoming the problems of Insurance business in...
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