FBCCI for restoring customers' confidence in insurance sector

Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) today called upon the entrepreneurs of the insurance sector to work together for restoring customers' confidence. 

The country's apex trade body came up with this call at the first meeting of the standing committee on insurance held at the FBCCI today.

While speaking as the chief guest, FBCCI President Md. Jashim Uddin said that insurance is one of the important sectors of the country's economy, a press release said. 

"However, a big challenge for this sector is a lack of confidence. We've to find out a solution to get out of this situation. All concerned in this sector should play an active role to change customers' negative perception 
towards the insurance industry," he added.
 
Jashim also said possibilities of the sector are yet to be utilized. "There is no alternative to developing skilled manpower in the development of the insurance sector," he noted.

FBCCI vice-president MA Momen said that although times have changed, but the insurance sector remained in the traditional process. "Modernization of this sector is very important. There is a need to attract new customers by bringing striking ideas, products and services."

Vice president Md. Amin Helaly informed that if the insurance companies submit their proposals in written form in coordination with the Insurance Development and Regulatory Authority (IDRA), FBCCI will discuss them with the government.

Director-in-charge of the committee A K M Monirul Haque called for working together to utilize the possibilities of the insurance sector. Former lawmaker and Chairman of the Committee Faridunnahar Laily called for the cooperation of all the stakeholders of this sector to face the challenges.

Secretary General of the FBCCI and former Managing Director of Life Insurance Corporation Mohammad Mahfuzul Hoque commented that it is important to have actuaries for the development of the insurance sector. 

He believed that if the sector comes under automation, many of the existing problems will be solved.

FBCCI directors Bijoy Kumar Kejriwal and Hafez Harun, committee co-chairmen Mojibul Islan, Ishaque Ali Khan Panna and Jalalul Azim were present, among others, at the programme.