Labaid InsureTech Company Limited, a Bangladesh-based InsurTech firm, has launched a digital insurance platform aimed at expanding access to insurance services across the country.
The platform was introduced during a soft launch event in Dhaka, attended by senior leaders from Labaid Group and representatives from partner insurers, according to the Daily Star.
The mobile application offers a range of insurance products including health, life, motor, travel, pet, crop, device and property insurance, enabling customers to access coverage through a single digital platform.
The app also includes several digital features designed to streamline the insurance experience, including online claims submission, real-time claim tracking, e-KYC verification, AI-powered customer service and access to doctor support services.
According to the company, some claims submitted through the platform can be settled within one to three working days, depending on the policy and documentation provided.
Sakif Shamim, Managing Director of Labaid InsureTech, said: “Our goal is to make Bangladesh’s insurance sector more clear, easy to access, and technology-based. The Labaid InsureTech app is not just a service platform, but a smart solution for people’s financial safety and future.”
The company said the platform will focus initially on delivering insurance solutions for individuals, families and small businesses, helping improve insurance accessibility in a market where penetration remains relatively low.
Partner organisations involved in the launch include Pragati Insurance, Chartered Life Insurance, Meghna Life Insurance, Micromaster Insurance Belgium and Shanta Life Insurance, with additional partnerships expected as the platform expands.
Looking ahead, Labaid InsureTech plans to introduce micro-insurance and usage-based insurance products, aiming to broaden coverage options and support more flexible insurance models.
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