Labaid launches digital InsurTech platform

Labaid InsureTech Company Limited has launched a digital insurance platform aimed at expanding access to insurance services.

The platform was introduced at a soft launch event in Dhaka, says a press release.

Sakif Shamim, managing director of Labaid InsureTech, attended the event along with senior officials of Labaid Group.

Guests included Dr. Sucharita Ahmed, director of Labaid Group; Mastura Farzana Mohona, director of Labaid Cancer Hospital & Super Speciality Centre; and Sharif Mohammad Abid, CEO of Labaid InsureTech.

Representatives from partner organisations including Pragati Insurance, Chartered Life Insurance, Meghna Life Insurance, Micromaster Insurance Belgium and Shanta Life Insurance were also present.

The company said the app will provide services including health, life, motor, travel, pet, crop, device and property insurance.

The platform includes features such as online claim submission, real-time tracking, e-KYC verification, cashless treatment, doctor support and AI-based customer service.

The company said some claims can be settled within one to three working days.

Speaking at the event, Sakif Shamim 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.”

He said the platform will focus on providing insurance services for individuals, families and small businesses.

The company said it plans to introduce additional services including micro-insurance and usage-based insurance in the future.

Labaid InsureTech said it is working with partner organisations to expand coverage and improve access to insurance services.