Progressive Life Insurance Co. Ltd. has officially digitised its premium collection process through a landmark partnership with Dutch-Bangla Bank PLC (DBBL). In a move designed to modernise the insurance experience, policyholders can now settle their premiums using the Rocket mobile financial service and the NexusPay app, ensuring a swifter, more secure, and entirely remote transaction process.
Driving Financial Inclusion through Tech
The collaboration was formalised on Monday, 26 January, during a strategic partnership ceremony. By adopting these digital gateways, Progressive Life aims to mitigate the risk of policy lapses. Traditionally, many customers faced challenges in reaching physical branches before deadlines; however, this integration allows for 24/7 payment accessibility from any location in the country.
The event was graced by several prominent figures in the financial sector:
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Bazlur Rashid MBE, Chairman of Progressive Life Insurance, attended as the Chief Guest.
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Md. Shahadat Hossain, Deputy Managing Director of Dutch-Bangla Bank, served as the Special Guest.
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Mohammad Saidul Amin, CEO of Progressive Life, presided over the session.
Key operational leaders, including Ahmed Shamshul Huda (Head of Mobile Banking, DBBL) and Rajat Chandra Poddar (Head of Distribution, Rocket), were also present to discuss the technical rollout of the service.
Benefits of the Digital Shift
The transition to Rocket and NexusPay is not merely about convenience; it is a move toward heightened transparency. Digital payments provide an immutable record of transaction, reducing the margin for error and enhancing the trust between the insurer and the insured. For Progressive Life, this means a more efficient “Premium Persistency” rate, as automated reminders and easy-pay features encourage timely settlements.
| Payment Component | Digital Integration Details |
| Partner Institution | Dutch-Bangla Bank PLC (DBBL) |
| Digital Channels | Rocket MFS and NexusPay App |
| Transaction Type | Instant Premium Collection & Renewal |
| Security Measure | Secure OTP and Encrypted Payment Gateway |
| Operational Date | Launched 26 January 2026 |
| Key Advantage | Elimination of physical branch visits |
A Vision for the Future
The Chairman, Bazlur Rashid MBE, remarked that this partnership is a cornerstone of the company’s broader strategy to become a “customer-first” digital insurer. By aligning with DBBL, which boasts one of the largest mobile banking networks in Bangladesh, Progressive Life is well-positioned to serve rural and urban clients with equal efficiency.
This alliance underscores a growing trend in the Bangladeshi financial landscape where traditional insurance products are being enhanced by robust FinTech solutions to meet the demands of a modern, tech-savvy populace.