BRAC Bank, MetLife bring digital insurance to Astha app

BRAC Bank PLC has entered into a partnership agreement with MetLife Bangladesh to introduce digital life and health insurance services through its digital banking app, Astha.

Tareq Refat Ullah Khan, managing director and CEO (current charge) of BRAC Bank PLC, and Ala Ahmad, chief executive officer of MetLife Bangladesh, signed the agreement at the bank's head office in Dhaka, according to a press release.

Commenting on the initiative, Khan said: "This collaboration underscores our vision of harnessing digital innovation to offer holistic financial solutions."

"Such an industry partnership will boost insurance penetration, promote financial inclusion, and provide financial security," he added.

Ahmad remarked: "This collaboration between two trusted financial institutions represents a strategic alignment to enhance insurance accessibility across Bangladesh."

"Alongside managing their banking needs, BRAC Bank's robust Astha App will now make it even easier for customers to access MetLife's world-class insurance solutions and services."

Through this collaboration, Astha users will be able to purchase affordable, digitally enabled insurance policies and submit claims entirely online, making protection solutions more accessible, transparent, and convenient. The initiative expands financial inclusion by bringing essential risk coverage within easy reach of customers.

This service forms part of BRAC Bank's bancassurance services, launched in 2024, allowing customers to access insurance products directly through the bank's distribution network. The partnership bridges banking and insurance to ensure seamless access and strengthen customer trust.

Syed Abdul Momen, additional managing director and head of SME banking and AMD; M Masud Rana, chief financial officer; Sabbir Hossain, deputy managing director and chief operations officer; Mahiul Islam, deputy managing director and head of retail banking; and Md Muniruzzaman Molla, deputy managing director and head of operations, attended the event.

Jafar Sadeque Chowdhury, additional managing director and chief distribution officer of the life insurer; Wasi Noman, deputy managing director and chief information officer; Nowfel Anower, additional managing director and chief marketing officer; and Mohammad Kamruzzaman, additional managing director and chief corporate business officer, were also present.