Initial Market Assessment : Country Scoping Note--Bangladesh
Bangladesh has a comprehensive Disaster Management plan, but details on the implementation and sufficiency of funding should be clarified. Strengthening financial disclosure could encourage greater engagement from key local and international stakeh...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24773653/initial-market-assessment-country-scoping-note-bangladesh http://hdl.handle.net/10986/22428 |
| Summary: | Bangladesh has a comprehensive Disaster
Management plan, but details on the implementation and
sufficiency of funding should be clarified. Strengthening
financial disclosure could encourage greater engagement from
key local and international stakeholders. The country also
offers great opportunities to increase the outreach of
insurance to larger sections of the population, especially
to those most vulnerable to the substantial exposure to
natural hazards and especially flood. The micro-finance
market is well developed and provides opportunities to
expand the still very limited availability of
micro-insurance propositions to the rural population.
Index-based insurance programs supported by mobile payment
systems have already been piloted and there is considerable
scope for this to be expanded, especially when appropriately
subsidized to address affordability issues. However, this
will require further strengthening of the insurance market,
in respect of the implementation of the Insurance Act 2010
and of consumer representation, which is underdeveloped but
may contribute strongly to improve the public’s confidence
and help the industry to develop successful propositions
also for emerging customers. |
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