U Fintech Limited and Protective Islami Life Insurance Limited have formally executed a group insurance agreement aimed at expanding customer service within the digital finance and insurance sectors. The corporate partnership is structured to provide enhanced healthcare benefits and comprehensive insurance coverage to U Fintech’s existing and future policyholders.
Contractual Provisions and Customer Benefits
Under the terms of the newly ratified agreement, customers of the digital financial services provider will be integrated into the specialized insurance portfolios managed by Protective Islami Life Insurance. The strategic alliance introduces several micro-insurance and health-centric features directly to the fintech platform’s user base.
The primary consumer benefits stipulated in the contract comprise:
-
Hospitalisation Cash Back: Financial reimbursement provisions for policyholders during periods of hospital admission.
-
Diagnostic Concessions: Specialised discount rates on medical diagnostic tests conducted at partner medical facilities.
-
Designated Insurance Coverage: Specific life and health insurance risk coverage limits as defined by the group policy framework.
Executive Representation and Management Attendance
The formal memorandum of understanding (MoU) was finalized during a corporate signing ceremony attended by the executive leadership and senior management teams of both contracting institutions.
The institutional delegation was led by the primary administrative officers of both firms, including Anirban Das Gupta, Managing Director of U Fintech Limited, and Dr Kishore Biswas, Managing Director of Protective Islami Life Insurance Limited. They were accompanied by Nazmul Huda, Co-Founder of U Fintech Limited.
The complete list of senior corporate officials present to oversee the execution of the inter-enterprise contract is detailed below:
| Corporate Organisation | Appointed Official | Executive Designation |
| U Fintech Limited | Anirban Das Gupta | Managing Director |
| U Fintech Limited | Nazmul Huda | Co-Founder |
| Protective Islami Life Insurance Ltd | Dr Kishore Biswas | Managing Director |
| Protective Islami Life Insurance Ltd | Farhad Uddin | Company Secretary |
| Protective Islami Life Insurance Ltd | Md. Shahidul Islam | Chief Financial Officer (CFO) |
| Protective Islami Life Insurance Ltd | Tabin Bashar | Senior Manager (Group & Overseas) |
Strategic Objectives and Sector Impact
According to statements issued by the participating entities, this group insurance framework is designed to merge financial technology with Islamic insurance products (Takaful). By embedding these insurance mechanisms into a digital fintech infrastructure, both companies intend to lower the barriers to insurance acquisition in Bangladesh.
The operational integration will allow U Fintech users to access insurance policies digitally, improving financial inclusion and providing medical risk mitigation tools to a broader consumer demographic. The technical deployment schedule and specific claim settlement procedures will be disseminated via the companies’ official service applications in due course.