Development of Knowledge-Based Insurance Products and Solutions (with special reference to Bangladesh)

In order to develop innovative products and enhance market penetration,insurance companies will have to undertake enormous tasks of identifyingpresent market scenario and chalk out pragmatic plans and strategies. In thisarticle we have tried to articulate some thoughts and ideas for developing needbased, knowledge based insurance/takaful products and solutions. We havefocused on Bangladesh, which has been progressing rapidly towards a middleincome country/developing country by ۲۰۴۱. However, insurance penetration inBangladesh remains very low compared with neighboring countries.There are several specialized and conventional business lines whereinsurance/takaful companies had not addressed adequately in the past and recentpast. We have identified those areas with the aim to improve social well-being aswell as promoting insurance not as a mere business only but as part of overallrisk management scheme for individuals, organizations and the Governmentitself. This article specified the issues and areas of knowledge based productdevelopment in following sections: Insurance Market Scenario of Bangladesh Recent Market Developments in Bangladesh Required Actions for Market Development Enhancing Shariah Products Need for Social Insurance Need for Climate Risk-Related Insurance Products Need for Pandemic Risk-Related Insurance Products Need for Cyber Insurance Need for Mandatory Insurance Products Need for Policy Support Need for Rational Pricing: Improving Key Traditional Insurance Products Introducing New Technology Need for Human Capital Development

کلیدواژه ها:

Insurance ، Knowledge ، Market ، Product ، Customer ، Technology ، Social ، Risks ، Solutions