Pragati Insurance Limited, the official Bancassurance partner of Midland Bank PLC, has successfully completed the settlement of its first non-life motor insurance claim under their recently launched collaborative framework. The milestone reflects the growing confidence in Bancassurance services in Bangladesh and marks an important step towards enhancing customer experiences in the insurance and financial services sectors.
To celebrate the occasion, a brief yet significant ceremony was held at Midland Bank’s Gulshan branch, where the honoured customer, Mr Mohammad Kutubuddin, received a formal cheque symbolising the settlement of his claim. The hand-over event highlighted not only the efficiency of the claims process but also the shared commitment of both institutions to deliver transparent, fast and customer-centric services.
The ceremony was attended by several senior officials who played instrumental roles in advancing the Bancassurance initiative. Among those present were Md Rashed Akter, Head of Retail Distribution Division and Chief Bancassurance Officer of Midland Bank PLC, and Md Manjur Hussain, Head of Bancassurance and Branch Control Department of Pragati Insurance Limited. Their presence underscored the strategic importance of Bancassurance in broadening the reach of insurance products through mainstream banking channels.
Also attending were Khondoker Imran Hossain, Bancassurance Manager, and Rajib Dev, Customer Service Manager of the Gulshan Branch, along with other key team members from Midland Bank PLC. Collectively, the officials emphasised that the successful settlement of this first motor claim stands as proof of the effectiveness of their inter-organisational coordination.
According to representatives from both organisations, this achievement reinforces their joint mission to elevate customer trust in insurance services, a sector that often suffers from misconceptions regarding claim delays and process complexity. With this accomplishment, Midland Bank and Pragati Insurance aim to demonstrate that Bancassurance can serve as a reliable, convenient and customer-friendly bridge between banking and insurance.
Both institutions also reiterated their intention to invest further in service innovation, streamlined claim procedures and strong regulatory compliance. Their goal is to ensure that clients benefit from timely financial protection without facing unnecessary procedural obstacles. By strengthening their collaborative approach, they aspire to set a new benchmark for Bancassurance in Bangladesh, encouraging more customers to explore the advantages of bundled banking and insurance solutions.