Pragati Life Insurance Limited signed a memorandum of understanding (MoU) with Instasure to develop new Insurance Products under the Insurance Regulatory Sandbox in the country’s life insurance industry on October 26.
Md Jalalul Azim, Managing Director and CEO of Pragati Life Insurance Limited and Engineer Rafel Kabir, Managing Director of Instasure Limited signed the MoU on behalf of their respective organizations, read a press release.
Under this MoU, Pragati Life Insurance and Instasure Limited will work together to develop and market new insurance products using innovative approaches through technologies. This will help to make insurance more accessible and affordable for everyone.
Jalalul Azim said, "We are excited to be the first life insurance company in Bangladesh to partner with Instasure company under the InsurTech Regulatory Sandbox. This partnership will allow us to leverage Instasure's expertise in technology to develop new and innovative insurance products for customers. We believe that this will help us to achieve our mission of making insurance more accessible and affordable for everyone in Bangladesh."
Additional Managing Director Chandra Shekhar Das, FCA and Head of ADC Sajadul Haque of Pragati Life Insurance and senior officials of both organizations were also present at the ceremony.
