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Review of existing product lines & Insurance Distribution Network (Package No.: S-14) under Bangladesh Insurance Sector Development Project (BISDP)


MSL is responsible for the following Activities/Tasks:
  • Prepare Inception report detailing how the consultant will perform the assignment, including workplan, staffing, and timeline for completion of the tasks and deliverables.
  • Review and prepare feasibility report for all existing insurance lines/products that currently available in Bangladesh insurance market. This work also should focus to review existing products of JBC and SBC and to develop new insurance products especially health insurance policy, education policy for JBC. This work should focus to develop new insurance product/s close the protection gap (such as climate related risk products, bancassurance and investment/unit linked insurance product)
  • Review Takaful, microinsurance and recommend pricing strategy based on such review.
  • Develop at least 04 new insurance products (life &non-life).
  • Develop market conduct guidelines for effective product development that includes market needs analysis, technical pricing, effective distribution channels, clear policy wording, and fair claims handling.
  • Prepare a strategy paper on enhancing distribution strategy to reach untapped population in middle and low income in the short/medium/long term – strategy paper including reporting process to capture information, determination of regulatory changes required, new guidelines and allowances. s
  • Developing & preparing an enabling agricultural, micro insurance (micro health, micro credit etc.) product and family takaful to tap the untapped lower- and middle-income people in Bangladesh.
  • Prepare a report on online selling of insurance products and “Standardizing the Traceability & Identification involved in Internet Sales of Insurance Products'.
  • Prepare Manual/guidance on shifting to digital tools (how technology is transforming insurance distribution channels), and provide recommendations as to how regulations should be changed to encourage such development.
  • Prepare a report along with recommendations analyses and recommendations of the influence of distribution strategies on the efficiency of life and non-life insurance firms.
  • Prepare a Report on the role of distribution channels in market discipline (ICPs (Insurance Core Principles 18 and 19) for the life insurance industry.
Conduct local Trainings for JBC (45 officials), SBC 45 (officials), BIA (05 officials), IDRA & PIU 55 (total 150 officials).


Review of existing product lines & Insurance Distribution Network.

Timeframe: March 2023-February 2024

Realated Countries: Bangladesh

Client(s): Insurance Development and Regulatory (IDRA), World Bank

Categories: Insurance Sector and Capital Market Development, Project Management and Implementation, Technical Assistant

AddressBangladesh Office
Maxwell Stamp Ltd.
House # 2 (Ground Floor)
Road # 119, Gulshan-2
Dhaka – 1212, Bangladesh
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