How Bangladesh is Positioning Itself in the Insurance Industry

This article may come as a surprise to some, but those in the insurance industry are listening. Hartford had it all at one time as the insurance capital. No longer. Omaha and Lincoln, Nebraska mounted an offensive and gained share in the industry in the 70's and 80's. Places like Jacksonville, Florida gained ground as insurance centers in past past decade. And of course, my hometown, Greater Cleveland, has been the home of the successful auto insurance giant, Progressive.

Read on and consider how the industry and its geographic positioning is changing.

Bangladesh offers an opportunity in the insurance industry. The country has gained valuable experience in managing insurance business, which requires a high level of knowledge, negotiation skills and professional management expertise to become successful. In Bangladesh, there are many trained and skilled workers in the insurance market. Providing them with the right mix of training and using them efficiently and effectively as well as introducing innovative insurance products in the market, the country can, possibly, attract more insurance-related investment.

Countries like Pakistan and India have been successful in drawing more investment in the insurance market by completely revamping the insurance market and bringing in fresh talents who are aggressive, more focused and result oriented, by continuously studying market demand, changing to the needs of the market, as well as being more responsive to the new demand from the market will be the critical control points for success in the insurance market in the coming future.

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