The Insurance Development and Regulatory Authority (IDRA) has won the top innovation award in the regulatory agency category at the Financial Institutions Division’s Innovation Showcasing 2025-26 for Insuplaint, a mobile application designed to streamline insurance claims and complaint management.
Finance Minister Amir Khosru Mahmud Chowdhury presented the award to IDRA Chairman Mir Nadia Nivin on 6 July.
Launched on 23 June, the app enables policyholders to submit insurance claims and complaints without visiting the regulator’s office and track their status online. It also allows IDRA to monitor whether insurers are resolving customer claims and complaints.
The regulator said the initiative is aimed at modernising the insurance sector, simplifying claims settlement and strengthening public confidence in insurance services.
Alongside Insuplaint, IDRA is implementing Bima Tathya App, a centralised digital platform that allows customers to verify insurance policies.
The regulator said the platform simplifies policy verification, helps prevent fake and duplicate policies and supports greater confidence in the insurance sector through improved transparency.
The Financial Institutions Division showcased 25 innovation initiatives from agencies under its supervision and recognised five organisations across separate categories.
Other winners included Janata Bank PLC for Janata-Pay, Probashi Kallyan Bank for its e-Migration Loan Service, Bangladesh House Building Finance Corporation for automating its document return process and Palli Karma-Sahayak Foundation for its GIS-based supervision and monitoring system.
