Vision

Bangladesh Insurance Association (BIA) protects and promotes the critical role of insurance industry and enhances the members’ interest for the development of the organization.

Mission

The mission of the Bangladesh Insurance Association (BIA) is to advocate for an optimistic legislative and regulatory environment, to augment business and professional skills, and to uphold the ethical conduct of our members.

Objectives

  • To act on behalf of its members both collectively and individually in any matter affecting their interest;
  • To issue tariffs and regulate rating of risks;
  • To approach the government from time to time to take such steps as may be deemed convenient for the interests of the insurance industry as a whole;
  • To provide facilities to enable persons engaged in insurance to acquire higher skill; and
  • To cultivate internationally recognized legal and ethical practices in the conduct of insurance business;
  • To enhance and to preserve the interest and welfare of members of Bangladesh Insurance Association especially the insurance companies who are conducting business in Bangladesh;
  • To discuss and to collaborate on the insurance topics with foreign insurance association along with the others chambers and associations;
  • To contribute to the determination of premium and the assessment of risk;
  • To help in formulating and implementing the insurance acts, guidelines for the development of the sector;
  • To discern and to develop the Insurance Act 2010, to support the change of modification of the existing Act and to take essential steps in collaboration with governments to implement of the clauses of those Act;
  • To circulate the information among the members and to publish and to promote several news, books, magazines about the insurance;
  • To form, administer and to donate money to a charitable fund, to subscribe fee to others fund;
  • To eradicate the fraud and injustice from the insurance sector and to establish the dignity and respect in the insurance;
  • To train and to develop those people working in the insurance industry, to take classes and to take the exams of those, to grant certificate, to provide stipend, and finally to provide gifts to those who cut a good figure in the exams;