Green Delta Insurance Launches Digital Insurance

Green Delta Insurance, the leading non-life insurance company of the country, has launched Digital Insurance for the first time in Bangladesh at a launch event and press conference held at Dhaka club on 13th of September, 2018.

In alignment with Bangladesh Government’s Digital Bangladesh concept, GDIC has already transformed their business model with state of the art IT infrastructure and are working relentlessly to elevate the insurance industry digitally.

Bangladesh Insurance Industry is a largely untapped sector with huge potentials to grow. Currently, 66 insurance companies in total are operating in life and non-life category. Market penetration is less than 1% which is relatively low compared to our neighboring countries but due to the growth in the middle-income group, it is highly expected that insurance will be a sought-after product for the general people in Bangladesh. Especially proper digitization of the sector will surely help to speed up market growth. Currently, few companies are trying to bring innovation to the sector, Green Delta being at the top of the list.

With more than 80 million internet users and around 10 million smartphone users, Bangladesh will experience an upsurge in fintech and insure-tech within a very short time. Now is the right time to digitize the insurance industry and enable customers to get a better user experience.

What you need to know:

• Anyone can now buy a handful of insurance policies from Green Delta directly online including paying the premium. Simply got to www.green-delta.com and follow the instructions.
• The insurance policies that you can buy digitally, for now, are motor insurance, travel insurance, Nibedita, and people’s personal accident policy
• Green Delta aims to make other policies available digitally over the time
• This is the first time any Bangladeshi Insurance company taking insurance digital. With the growth in internet and mobile phone penetration, this should allow Green Delta to serve a segment of the customer more effectively. At the same time, done right this could entirely revolutionize insurance distribution down the line a few years.
• We have previously reported, Green Delta has been working on digital insurance initiatives for a while now and with the formal launch today, it comes to reality

Last year, Green Delta Insurance signed a Memorandum of Understanding with the Information & Communications Technology (ICT) Division of Government of Bangladesh to promote the access to insurance services and educate mass about insurance through technology. This MoU heavily supported the movement of Digital Insurance. Also, the national help desk (#999) will be integrated with Nibedita (with the panic button feature) which is a comprehensive insurance scheme for women by Green Delta Insurance.

Green Delta Insurance has already created a strong platform to make insurance payments and buy insurance policies online. This is saving customers’ valuable time, money and energy.

Currently, the customers can buy motor insurance, travel insurance, Nibedita, and people’s personal accident policy online logging in to www.green-delta.com. Gradually the other products will be brought under the Digital Insurance platform as well.

Green Delta Insurance & iPay are running a joint moneyback campaign at the moment. Customers who will buy insurance using iPay’s platform will enjoy 15% money back on their purchase.

Chairman of Insurance Development & Regulatory Authority (IDRA) Mr. Shafiqur Rahman Patwary was present as the Chief Guest of the event and Special guest was President of Bangladesh Insurance Association (BIA) Mr. Sheikh Kabir Hossain. Honorable Members and Executive Directors of IDRA were also present along with officials from BIA. From Green Delta Insurance Managing Director & CEO, Ms. Farzana Chowdhury, Advisor & Founding Managing Director Mr. Nasir A Choudhury and other high officials were present at the event.