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Green Delta’s Digital Insurance Ambition

Green Delta Insurance Company Limited Additional Managing Director and Company Secretary Syed Moinuddin Ahmed said in an interview with Future Startup that Green Insurance Company, country’s largest non-life insurance company, aims to lead the digital insurance movement in the country.

He said, Green Delta sees a huge growth opportunity in digital insurance space and has already started an internal initiative to materialize its long-term strategy in the space.

“In my opinion, technology and the young generation are two important forces that will drive insurance businesses in the coming days,” Mr. Ahmed said. “At Green Delta, we are paying a lot of attention to these two factors. In order to address this new reality, we have to upgrade our infrastructure and make our services technologically up-to-date so that it matches the expectations of the future generation.”

Mr. Ahmed said the company has a solid strategy in place to deal with digital insurance and it has already started working on it.

“This year, we have launched a 3-year plan under the digital insurance initiative. During this period, we want Green Delta to pioneer in the technology adaptation,” Mr. Ahmed said. “We aim to introduce InsureTech with internal or external funding by 2020. All of these strategies are to make sure that our company is ready to greet the millennials, who will be the majority decision-makers and consumers in the country by then.

We are working on a few areas. For instance, we already have an app for women which is Nibedita. We are working on an overall platform. We are making investments both in software and hardware part of it.”

Ruhul Kader is a technology and business analyst based in Dhaka, Bangladesh. He is also the co-founder and CEO of Future Startup and author of Rethinking Failure: A short guide to living an entrepreneurial life. He writes about internet business, strategy, technology, technology policy, and society. He can be reached at [email protected]

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