Paramount Ins plans products for disaster-prone areas
Paramount Insurance Company Ltd (PICL), which started its operation in November last year, plans to introduce some new products for the rural areas as well as for the tornado, cyclone and earthquake-prone areas to help the people living of these zones recover their losses caused by natural disasters.
PICA also pledges to make its service totally hassle-free for its clients.
"As policy-holders in the country find it difficult to settle their claims, we have taken steps to make this process hassle-free," said Shakhawat Hossain, Chairman of PICL at a press conference at the National Press Club yesterday.
It has also introduced insurance policies for small poultry firms, fisheries and pisciculture projects. PICL's new product range also covers low-premium policy for journalists which will cover any sort of accident for the on-duty journalists.
The press conference was also addressed by Managing Director (MD) of the company M A Hamid and Additional MD S M Shamsul Islam.
Elaborating the company's hassle-free claim settlement system, PICL Chairman Shakhawat Hossain said that when his company staff would instantly go for preliminary assessment of damaged property as soon as a claim is made and would make partial payment to settle the claim. The rest of the claim would also be settled as early as possible, he added.
PICL is the second general insurance company among the 19 new ones which got license last year to start operation. Last year, the government gave license to 30 general and life insurance companies.
"In our view, there is certainly a market for more insurance companies in the country as the vast majority of the people are not covered by insurance policies. But we have to create awareness about the need for having insurance coverage," said Shakhawat Hossain.
PICL is planning to open 26 branches in all the administrative divisions of the country and these branches would create about 600 new jobs, Managing Director of PICL M. A. Hamid said.
Paramount is also planning to introduce a computer-aided 'Tele Insurance' for fast and better service.
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