IDRA chairman urges youth awareness on insurance, calls for more actuaries and broader coverage
He made the remarks at a seminar titled 'Insurance Sector Potential and Career Prospect', held at the Faculty of Business Studies, University of Dhaka today (2 November).
Insurance Development and Regulatory Authority (IDRA) Chairman M Aslam Alam has urged young people to understand the importance of insurance from an early age and stressed the need for more actuaries and expanded health and education coverage to make Bangladesh's insurance sector more dynamic and sustainable.
He made the remarks at a seminar titled 'Insurance Sector Potential and Career Prospect', held at the Faculty of Business Studies, University of Dhaka today (2 November).
"Every graduate should understand that insurance safeguards their future," Alam said, calling for introducing education and health insurance policies to ensure inclusive growth and strengthen the country's social protection system.
Delivering the keynote, Professor Shahidul Islam Zahid, chairman of the Department of Banking and Insurance, highlighted the importance of industry-academia dialogue to align academic curricula with the evolving needs of the insurance sector.
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Professor Mahmood Osman Imam, dean of the Faculty of Business Studies, pointed out a decline in life insurance policyholders, emphasising the need for stronger regulation, sustainable operations, and innovative products.
Md Fazlul Haque, IDRA member (admin), noted the growing demand for actuaries, describing actuarial science as a top-ranked global profession. With only four to five actuaries currently in Bangladesh, he encouraged students to pursue the field under IDRA's Actuary Development Programme.
Professor Suborno Barua, chairman of the Department of International Business, highlighted challenges in attracting skilled graduates due to low pay and limited digitisation, calling for revised salary structures and expanded reinsurance opportunities.
Professor Hasina Sheikh stressed the need to expand health insurance, noting that sustainable development is impossible without an effective health protection system.
The seminar concluded with calls to modernise the insurance sector, strengthen regulation, and create attractive career opportunities for young professionals.
