Besides, to create skilled manpower, to pay the Insurance claim on time initiatives has been taken up to stop illegal commission of the companies. Initiatives have also been taken to bring 27 companies in the capital market.
Gokul Chandra Das said that there is lacking of discipline in the Insurance sector. Lack of confidence of the people is prevailing. However these lackings were not created in a day. To remove these anomalies IDR has been formed. If automation is introduced then this sector will flourish again. For this reason with the help of World Bank a project of Taka 632 crore has been taken up.
He said that there is no attractive salary in this sector like banking sector so the meritorious people do not come here for service. An attractive salary structure is under preparation. He further informed that good governance will also be established through this automation project.
He continued that directives were also given to make the condition of the policy in Bengali so that all people can understand.
To remove the ‘image crisis’ of the insurance sector several initiatives have been taken up as told by Bangladesh Insurance Association President Sheikh Kabir Hosain. Image crisis means not to pay the claim. There are many companies who do not pay claim despite the claim has become matured including causing sufferings to the customers. This is most important for image crisis. However, Sheikh Kabir is hopeful to remove the anomalies within shortest possible time. He further informed that the process of bringing 27 companies has already been started. This will help make the Insurance sector vibrant, he added.
The concerned people said that in the whole world the insurance sector is regarded as a very dignified sector. The insurance sector plays a very important role in country’s economy. While in Bangladesh this sector is considered with negative attitude. A number of irregularities, non payment of commission on time, non payment of claim without any sufferings, stopping of unethical business with commission payment and due to want of skilled man power this sector cannot stand upto expectation.
All these problems will go if the automation project of IDR can be introduced as observed by the concerned. Then the insurance sector will enter into a new era as commented by them.