Inclusive Insurance in Bangladesh

Home to Key Actors Who Are Developing Microfinance in the Country and Around the World

With 165m people - of which 61% are categorized as “emerging consumers” - Bangladesh is the eighth most populous country in the world, and one of the most densely populated. Due to its location, the country is also one of the
most vulnerable to climate change and is exposed to many natural disasters, particularly cyclones and floods. While many microinsurance programs have been implemented in the country through partnerships between microfinance
institutions (MFIs), NGOs, and insurers, the inclusive insurance sector still faces challenges in its development.

• Bangladesh is characterized by gender inequality in the employment sector, and most of the working population is informally employed.
• Agriculture is a key sector of the economy with 70% of the land dedicated to farming. Bangladesh is the world's third-largest producer of rice, most of which is consumed locally. The country imports rice to make up for shortfalls caused by floods or droughts.
• The social protection system is fragmented and consists of about 119 social protection programmes.
• Bangladesh is home to key actors who are developing microfinance in the country and around the world.
• The microinsurance landscape shows a strong concentration of inclusive insurance, in terms of people covered, around life insurance and in particular, credit life/loan protection.