Prospects of financial inclusion through life insurance in Bangladesh
This internship report is submitted in a partial fulfilment of the requirements for the degree of Masters of Business Administration, 2017.
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2018
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10361-89592019-09-30T03:08:00Z Prospects of financial inclusion through life insurance in Bangladesh Jewel, Md. Salahuddin Haque, Mr. Shamim Ehsanul BRAC Business School, BRAC University Financial inclusion Life insurance Microinsurance This internship report is submitted in a partial fulfilment of the requirements for the degree of Masters of Business Administration, 2017. Cataloged from PDF version of internship report. Includes bibliographical references (page 37). Vulnerability to risk is common in the lives of poor people. From the beginning of human civilization low income persons have been particularly vulnerable to environmental risks, chronic illness, shocks of sudden or accidental death, physical disability, loss of property due to theft or fire, agricultural losses due to natural disaster, manmade and other disasters. The objective of the study is to find out the prospects of financial inclusion through insurance in Bangladesh. To find out the awareness of microinsurance among the low income group, to know about the current situation of microinsurance in Bangladesh. Also finding out the challenges of Financial Inclusion. Finally proposing some recommendations. Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Microinsurance is the protection of low-income people (those living on between approximately $1 and $4 per day) against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involved. Current understanding of the specific insurance of low income households is limited. People are reluctant to give up a portion of their hard-earned income in exchange for a potential future benefit they hope they will not need. There is a negative perception of insurance among general people. They don’t think it is useful for them. Awareness development is very crucial. It is very unfortunate that people who need insurance need most don’t realize the importance of insurance. NGO/ MFIs, Insurance companies and all the players in this industry including government should take steps to develop awareness among low income group. For building good image of the industry regulators and government has lot to do. Banks and NBFIs have better reputation among people than insurance companies. These perception needs to be changed. Otherwise financial inclusion through insurance will not be fruitful if people are not receiving it right. The NGOs/MFIs cover different types of risks related to life, health, accident and also property. In this regard, the insurance companies and NGOs/MFIs can work jointly. Moreover, the both parties can form a separate Mutual entity operated as Mutual Insurance Company to expand their Microinsurance product line. Md. Salahuddin Jewel M. Business Administration 2018-01-08T04:25:14Z 2018-01-08T04:25:14Z 2017 2017-04-23 Internship report ID 12164080 http://hdl.handle.net/10361/8959 en BRAC University Internship reports are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. 39 pages application/pdf BRAC Univeristy |
| institution |
Brac University |
| collection |
Institutional Repository |
| language |
English |
| topic |
Financial inclusion Life insurance Microinsurance |
| spellingShingle |
Financial inclusion Life insurance Microinsurance Jewel, Md. Salahuddin Prospects of financial inclusion through life insurance in Bangladesh |
| description |
This internship report is submitted in a partial fulfilment of the requirements for the degree of Masters of Business Administration, 2017. |
| author2 |
Haque, Mr. Shamim Ehsanul |
| author_facet |
Haque, Mr. Shamim Ehsanul Jewel, Md. Salahuddin |
| format |
Internship report |
| author |
Jewel, Md. Salahuddin |
| author_sort |
Jewel, Md. Salahuddin |
| title |
Prospects of financial inclusion through life insurance in Bangladesh |
| title_short |
Prospects of financial inclusion through life insurance in Bangladesh |
| title_full |
Prospects of financial inclusion through life insurance in Bangladesh |
| title_fullStr |
Prospects of financial inclusion through life insurance in Bangladesh |
| title_full_unstemmed |
Prospects of financial inclusion through life insurance in Bangladesh |
| title_sort |
prospects of financial inclusion through life insurance in bangladesh |
| publisher |
BRAC Univeristy |
| publishDate |
2018 |
| url |
http://hdl.handle.net/10361/8959 |
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AT jewelmdsalahuddin prospectsoffinancialinclusionthroughlifeinsuranceinbangladesh |
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