Report on Analyzing the Current Situation of Insurance Business in Bangladesh

Insurance is nothing but a system of spreading the risk of one into the shoulder of many. While it becomes somewhat impossible for a man to bear by himself 100% loss to his own property or interest arising out of an unforeseen contingency, insurance is a method or process which distributes the burden of the loss on a number of person within the group formed for this particular purpose.

1.1 Objective of The Study:
The main objective of this study is to “Analyzing the Current Situation of Insurance Business in Bangladesh” The study has been undertaken with the following objectives:

v To get an overall insurance process.

v To understand how the insurance institutions maintain financial statement

v To find out the factors which are responsible to affect the financial statement?

v To scrutinize the different types of life & non-life services of the insurance companies.

v To show their styles and standards.

v To understand how the different insurance companies compete in the market.

v To illustrate their positive and negative sides

v To identify and suggest scopes of improvement in premium & claim for different insurance companies.

v To recognize what prosperity do the insurance companies receives through better performance.

1.2 Research Methodology of the Study:
The research methodology is the complete techniques that we will follow to conduct the research. This report is an exploratory and analytical one in nature. For preparing the report the following methodology is adopted.

(a)Data Source:
In our research, we used both primary data and secondary data. This report is a mathematical and descriptive one in nature. Therefore, the sources of data are two types. To conduct the research we have collected the annual report of the insurance companies. For the organization part of our report, we have used the Websites of the insurance companies. Of collecting Primary Data

(b) Contact Method of the study:
For depth analyses, we submitted question through the mail address of the insurance companies and it helped to make the report efficiently.

by urmi