Nagad, the mobile financial service of Bangladesh Post Office, has paired with the Jiban Bima Corporation, the state-run life insurance provider of Bangladesh, to facilitate its insurance premium payment for the customers.
From now on, Nagad users can pay the insurance premium of Jiban Bima Corporation from their account, without the need to visit any locations physically, said a press release.
The partnership is essentially more valid since cashless transaction is beneficial during the ongoing Covid-19 pandemic, the release also said.
The two organizations signed an agreement in this regard on Tuesday where the insurance company Chairman Md Maksudul Hasan Khan was the chief guest and Managing Director of the insurance company Md Zahurul Haque was also present.
Nagad Chief Executive Officer Rahel Ahmed and Jiban Bima Corporation General Manager (Finance and Accounts) Sheikh Kamal Hossain signed the agreement for their respective organizations.
"We are very happy today with this collaboration with one of the pioneer insurance company of the country and now our users can pay their premium anytime effortlessly," said Rahel Ahmed.
Although the mobile financial service of the country started about a decade back, but with innovative solution Nagad has acquired more than 5 crore customers within such a short time along with daily transaction of Tk700 crore, he added.
JibanBima Corporation MD Md Zahurul Haque said: “We hope that majority of our premium collection of Tk700 crore will come through Nagad. As we both are state-run organization, it will ultimately help the government and the people.”
Stressing on more digital innovation like Nagad, JibanBima Corporation Chairman Md Maksudul Hasan Khan said: “Such innovation proves that we have already passing the Digital Bangladesh era which was a government vision. Now more innovation should come and such collaboration should get more publicity.”
Nagad’s Chief Marketing Officer Sheikh Aminur Rahman, Chief Sales Officer Md Shihab Uddin Chowdhury, Jiban Bima Corporation General Manager (Development and ICT) were present in the occasion among others.
Earlier, Nagad joined hands with MetLife insurance for premium payment channel and currently so far the state owned mobile financial service also has partnership with27 insurance companies for collecting their premiums through the MFS.
