Bangladesh's BRAC Bank has signed a bancassurance agreement with Dhaka-based insurer Green Delta Insurance Company to improve its services.
Under the terms of the agreement, finalised on 27 December, Green Delta will offer a range of non-life insurance products to BRAC Bank customers, including travel, health, motor, and crop insurance. The agreement will run for an initial period of three years.
“We are excited about the prospects this collaboration holds for the insurance industry as well as for the future of integrated financial services in Bangladesh,” said Farzanah Chowdhury, Managing Director and CEO of Green Delta.
She added: “This partnership would not only help us to cater to the needs of Bangladeshi people in a more inclusive manner by bundling insurance with banking products, but also will assist in making insurance more available to people through the vast distribution network of banking sector.”
Singapore’s Trust Bank also announced in May 2023 that it would begin offering travel insurance to its customers through a partnership with Income Insurance.