FBCCI The Federation of Bangladesh Chambers of Commerce and Industries has stated regaining customer trust is a must for the insurance sector to boost its growth.
At a meeting of its standing committee on insurance on Thursday (12 January) in Dhaka, FBCCI President Md Jashim Uddin said: “Insurance is one of the important sectors of the country’s economy. However, a big challenge for this sector is a lack of confidence in it.”
“We have to find a way out of this situation. All the stakeholders of this sector should play an active role to change customers’ negative perceptions of it,” he added.
“Also, we have not been able to use the potential of this sector; there is no alternative to developing a skilled workforce for future growth of the sector,” the FBCCI president said.
FBCCI Vice-President MA Momen said, “It is very important now to go for the modernization of the insurance sector as the time has changed.”
Mohammad Mahfuzul Hoque, secretary general of FBCCI and former managing director of Life Insurance Corporation, said it is important to have actuaries for the development of the insurance sector. “If the sector comes under automation, many of the existing problems will be solved.”
