Page 48 - November 2020

Insurance Market

Surokkha:

Ensuring Home-

Grown InsurTech

A.K.M Mosta zur Rahman is the Chairman of Ezy Fintech Ltd. Mosta z is a
successful entrepreneur in Banking, Trade, Microcredit, Women
empowerment, Social services, and in the NGO sector. Currently, He is the
Vice-Chairman of the NRB Commercial Bank Ltd and CEO of VOSD, a
renowned NGO in Khulna region. He is also Sponsor Shareholder in the
Meghna Bank Ltd., Managing Director, the Royal Denim Ltd. and the
Managing Partner of NAVA IT Consultancy. ICE Business Times caught up
with the Chairman to get his insights on Bangladesh’s insurance market,
the prospects on InsureTech and Ezy Fintech Ltd’s very own “Surokkha”. customer trust, presence of
digital footprint always ensures
transparency and it also helps to
reduce business cost. Therefore, it
is certain that InsurTech adoption
is now essential for further
growth of Bangladesh insurance
market.
Tell us about the
inception of Surokkha. What kind of services can
the field of financial and other Why is this platform a
services; time-appropriate we expect from
Surokkha? How are you
Tell us about the d) Positive attitudes of initiative? trying to inform
prospect of InsurTech in government and regulators for Ezy Fintech Ltd established to customers about
promoting InsurTech in line
Bangladesh in with the government’s vision serve digital financial service at Surokkha particularly in
comparison to the of building digital Bangladesh. the peoples doorsteps and a system that is fraught
existing system which promote the government's agenda with stigmas against
is full of legacy How important is the for building digital Bangladesh. insurance?
companies. adoption of InsurTech in At the outset, our research and Well. As you know ‘Surokkha’ is
Well. I think the prospect of the local scene? insight from the reliable report an aggregation platform where
InsurTech is enormous in I think adoption of InsurTech in indicated that the insurance several life and non-life Insurance
Bangladesh. It is in a nascent Bangladesh can significantly sector is the most unexplored companies are policy providers
stage and most of the InsurTech re-shape the insurance industries sector in terms of digital and undertake risk as insurers.
areas are unexplored. There are in Bangladesh. There are several innovation, where we can work Currently people can purchase any
several factors that will shape issues that always become the and add value for the people as type of vehicle insurance, travel
future InsurTech landscape in A.K.M Mosta zur Rahman is the Chairman of Ezy Fintech Ltd. news of our insurance industry well as the society. Then we insurance, life and health
Bangladesh which includes as for example, decreasing rate of established our brand ‘Surokkha’ insurance policy from their
follows: market perpetration, significant with an aggregation model. I preferred insurance company from
a) A big chunk of population lack of trust, lack of transparency, strongly believe that it is a time the list. ‘Surokkha’ promotes
are young age who are tech higher cost of business befitting initiatives to establish micro insurance scheme in the
savvy; procurement etc. The adoption of ‘Surokkha’ as you can see field of health and life insurance.
b) Revolutionary increase of InsurTech can serve insurance insurance regulators and other Any further detail, please log on
internet and Smartphone service to the customer doorstep, stakeholders are quite positive to www.surokkha.com.bd or stay
usage. automation customer claim and taking several steps to connected with our different
c) Rapid adoption of Fintech in settlement can bring back promote InsureTech. social media page.

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