INSURANCE
ASSIGNMENT ON
PRINCIPLE OF INSURANCE
ASSIGNMENT TOPIC
“JIBAN BIMA CORPORATION”
INTRODUCTION: The Jiban Bima Corporation (JBC) is the lone state-owned life Insurance company in Bangladesh, which started its maiden journey on 14 May, 1973 with assets and liabilities worth TK. 15.70 crore (157 million) of defunt 37 life Insurance companies. Since its inception, JBC is working among the people of Bangladesh with two basic objectives: firstly, to cover the risks and raise savings habits among the people and secondly, create funds for the country’s economic development through innovative life insurance schemes.
Meanwhile, the life fund of Jiban Bima Corporation has shot up to TK. 1,315.35 crore (13.15 billion), up to the year 2011, which was only TK. 21.83 crore (218.3 million) in 1973. JBC has paid TK. 1580.9 crore (15.81 billion) against various claims, the highest such payments in the country’s life Insurance business. The JBC’s investment has reached TK. 1,199.6 crore (11.99 billion) from only TK. 19.7 crore (197 million) in 1973. The JBC has the largest network all over the country with 7 regional, 9 zonal, 68 sales and 343 branch offices.
OBJECTIVES: Provide life insurance benefit to the people at a competitive cost.
Mobilize savings through various schemes and create funds for economic development of the country.
Offer products for maximum returns at minimum cost.
Create awareness among the people to develop savings habits.
Develop suitable schemes to meet the need of all classes of people.
VISSION: “A business organization that covers risks and offers profits to make life a matter.”
MISSION:
‘‘To help people improve their standard of livings with a saving content and create funds for nation’s economic development.”
BUSINESS PERFORMANCE(2008-2012) :
Income (Taka in Million)
JBC’s existing schemes:
PRINCIPLE OF INSURANCE
ASSIGNMENT TOPIC
“JIBAN BIMA CORPORATION”
INTRODUCTION: The Jiban Bima Corporation (JBC) is the lone state-owned life Insurance company in Bangladesh, which started its maiden journey on 14 May, 1973 with assets and liabilities worth TK. 15.70 crore (157 million) of defunt 37 life Insurance companies. Since its inception, JBC is working among the people of Bangladesh with two basic objectives: firstly, to cover the risks and raise savings habits among the people and secondly, create funds for the country’s economic development through innovative life insurance schemes.
Meanwhile, the life fund of Jiban Bima Corporation has shot up to TK. 1,315.35 crore (13.15 billion), up to the year 2011, which was only TK. 21.83 crore (218.3 million) in 1973. JBC has paid TK. 1580.9 crore (15.81 billion) against various claims, the highest such payments in the country’s life Insurance business. The JBC’s investment has reached TK. 1,199.6 crore (11.99 billion) from only TK. 19.7 crore (197 million) in 1973. The JBC has the largest network all over the country with 7 regional, 9 zonal, 68 sales and 343 branch offices.
OBJECTIVES: Provide life insurance benefit to the people at a competitive cost.
Mobilize savings through various schemes and create funds for economic development of the country.
Offer products for maximum returns at minimum cost.
Create awareness among the people to develop savings habits.
Develop suitable schemes to meet the need of all classes of people.
VISSION: “A business organization that covers risks and offers profits to make life a matter.”
MISSION:
‘‘To help people improve their standard of livings with a saving content and create funds for nation’s economic development.”
BUSINESS PERFORMANCE(2008-2012) :
Income (Taka in Million)
JBC’s existing schemes: