Brac Bank and MetLife have announced a historic collaboration to provide Bancassurance.
This service will provide Brac Bank customers access to MetLife's extensive life insurance options.
This unique approach strives to make insurance more accessible to people across Bangladesh.
When the Bancassurance channel formally opens, a wide range of MetLife's innovative products will be available through Brac Bank's extensive network, including the bank's branches, sub-branches and SME Units.
The partnership announcement ceremony was recently held in the presence of Brac Bank's chairperson Meheriar M Hasan, and MetLife Bangladesh CEO Ala Ahmad.
MetLife Bangladesh officials, including Jafar Sadeque Chowdhury, AMD and Chief Distribution Officer; Nafis Akhter Ahmed, DMD & Chief Corporate Business Officer; Muhammad Asif Shams, SEVP & Head of Bancassurance; and BRAC Bank's DMD and Head of SME, Syed Abdul Momen; DMD and Head of Retail, Mahiul Islam; Head of Branches, Sheikh Mohammad Ashfaque; also attended the event.
Brac Bank Chairperson Meheriar M. Hasan highlighted the significance of this partnership: “Today marks a historic moment as MetLife Bangladesh and BRAC Bank unite in a groundbreaking Bancassurance partnership. This alliance symbolizes our shared vision for financial inclusivity and sets a new precedent in Bangladesh's financial sector.”
“By combining banking and insurance services, we aim to revolutionize accessibility and reliability in financial services, significantly contributing to the journey towards a more financially inclusive and resilient Bangladesh,” he added.
MetLife Bangladesh CEO Ala Ahmad echoed similar sentiments: “The main objective of Bancassurance is to increase insurance accessibility. The partnership between MetLife and BRAC Bank, two trusted financial institutions, demonstrates a strategic fit aimed at expanding the reach of insurance among the people of Bangladesh. This significant collaboration supports the country’s drive to strengthen financial empowerment, allowing customers to confidently incorporate MetLife’s world-class insurance protection in their financial planning.”
This strategic collaboration between two of Bangladesh's leading brands in banking and insurance is expected to enhance the financial services landscape significantly, offering customers integrated solutions for their banking and insurance needs.