Big Data Analytics in Bangladesh and insurance Sector

 

Bigdata Analytics

Here is a brief timeline of the development of big data analytics in Bangladesh:

 

2014: The Bangladesh Association of Software and Information Services (BASIS) organized a seminar on big data to raise awareness of the technology among businesses and entrepreneurs in Bangladesh.

 

2015: The Bangladesh government launched the Digital Bangladesh 2021 strategy, which included a focus on the development of big data analytics. The strategy aimed to promote the use of data analytics in various sectors, including healthcare, education, and finance.

 

2016: The Bangladesh Institute of ICT in Development (BIID) conducted a study on the potential of big data analytics in Bangladesh. The study identified opportunities for the application of big data analytics in various sectors, including agriculture, health, and transportation.

 

2017: The International Data Corporation (IDC) predicted that the big data and analytics market in Bangladesh would reach $29.3 million by 2020.

 

2018: Grameenphone, the largest mobile phone operator in Bangladesh, announced that it had partnered with a data analytics company called Telenor Connexion to develop a new data analytics platform. The platform was designed to help Grameenphone analyze customer data to improve its services and marketing efforts.

 

2019: The Bangladesh Telecommunication Regulatory Commission (BTRC) launched a new platform called the Telecommunications Big Data Analytics Platform to analyze data from the country's telecommunications industry. The platform was designed to provide insights into consumer behavior and to help businesses and policymakers make more informed decisions.

 

Overall, the adoption of big data analytics in Bangladesh is still in its early stages, but there have been significant developments in recent years. With initiatives such as the Digital Bangladesh 2021 strategy and the Telecommunications Big Data Analytics Platform, it is likely that more businesses and organizations in Bangladesh will adopt big data analytics in the coming years to gain insights and improve decision-making processes.

 

The adoption of big data analytics in the insurance industry in Bangladesh is still in its early stages, but there have been some significant developments in recent years. Here is a brief timeline of some of the key events:

 

2016: Green Delta Insurance, one of the leading insurance companies in Bangladesh, announced that it had launched a new data analytics unit. The unit was tasked with analyzing customer data to improve underwriting, claims management, and customer service.

 

2018: MetLife Bangladesh, a subsidiary of the global insurance company MetLife, announced that it had partnered with a data analytics company called Clarifai to develop a new data analytics platform. The platform was designed to help MetLife Bangladesh analyze customer data to improve its underwriting and claims management processes.

 

2020: Pragati Life Insurance, one of the fastest-growing insurance companies in Bangladesh, announced that it had partnered with a data analytics company called Analyzen to develop a new data analytics platform. The platform was designed to help Pragati Life Insurance analyze customer data to improve its underwriting, risk management, and customer service processes.

 

Bigdata Analytics Tools

Overall, the adoption of big data analytics in the insurance industry in Bangladesh is still in its early stages, but there is growing interest in the potential benefits of the technology. As more insurance companies in Bangladesh recognize the value of analyzing customer data to improve underwriting, risk management, and claims management processes, it is likely that we will see more developments in the use of big data analytics in the insurance industry in Bangladesh in the coming years.