Nagad and Sonali Life Insurance PLC and have recently signed a strategic partnership agreement to expand digital insurance services and make life insurance more accessible to the public, according to a press release issued on Wednesday.
Under the agreement, two digital insurance products from Sonali Life—the ‘Quick Savings Insurance Plan’ and the ‘Monthly Savings Plan’—will be available to customers through Nagad’s digital platform. The initiative aims to promote cashless transactions and extend financial protection through a convenient digital channel.
The agreement was signed on 14 October at the head office of Sonali Life Insurance in Dhaka. Md. Rafiqul Islam, Additional Managing Director and Acting Chief Executive Officer of Sonali Life, and Mohummed Shahin Sarwar Bhuiyan, Chief Commercial Officer of Nagad, signed on behalf of their respective organisations.
Mohummed Shahin Sarwar Bhuiyan said the partnership will expand customers’ access to life insurance through digital platforms. He noted that Nagad has been focusing on making everyday financial transactions easier while introducing new digital services.
Md. Rafiqul Islam said digital transformation is a strategic priority for the company, adding that the partnership will provide customers with a convenient digital channel to purchase its life insurance products.
Sheikh Mohammad Daniel and Fauzia Kamrun Tania, Directors of Sonali Life Insurance PLC, said the initiative aims to reach more customers and extend financial protection to a broader segment of society by combining Sonali Life’s insurance experience with Nagad’s digital network.
