The Insurance Development and Regulatory Authority (IDRA) has unveiled the “Insurance Claims Management Guideline, 2024”, which has been published on the agency’s official website.
According to a report by The Financial Express citing IDRA, the guideline is designed to promote transparency and accountability within insurers’ operations, with the primary goal of protecting the interests of insured customers.
The scope of the guideline extends to a range of stakeholders including insurers, reinsurers, surveyors, insurance agents, intermediaries, service providers, as well as customers and other relevant parties identified by IDRA.
Among the key requirements outlined in the guideline is the establishment of dedicated help desks within insurance companies to streamline the management of insurance claims. Additionally, detailed guidelines are provided concerning the roles and responsibilities of the board of directors and its committees.
These new regulations represent a significant step towards enhancing the efficiency and fairness of insurance claims management in Bangladesh, ultimately aiming to improve customer satisfaction and confidence in the insurance sector. The guideline is expected to be rigorously implemented across the industry to ensure compliance and adherence to best practices in claims handling.
