Cloud computing Timeline in Bangladesh and Insurance Sector

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Cloud computing has been steadily gaining popularity in Bangladesh in recent years. Here is a brief timeline of the major events and milestones related to cloud computing in Bangladesh:

 

2010: Bangladesh Association of Software and Information Services (BASIS) started promoting cloud computing in Bangladesh by organizing seminars and workshops.

 

2012: Grameenphone, the largest mobile network operator in Bangladesh, launched the country's first cloud computing service called "GP Cloud."

 

2013: Bangladesh Telecommunication Regulatory Commission (BTRC) issued guidelines for cloud computing services in Bangladesh.

 

2015: Amazon Web Services (AWS) opened a region in Mumbai, India, which made it easier for Bangladeshi companies to access cloud computing services.

 

2016: Bangladesh Bank, the central bank of Bangladesh, issued guidelines for banks to use cloud computing services.

 

2017: Microsoft Azure launched a region in India, which also made it easier for Bangladeshi companies to access cloud computing services.

 

2018: Alibaba Cloud, the cloud computing arm of Alibaba Group, announced plans to open a data center in Bangladesh.

 

2019: Bangladesh government approved a draft of the "Digital Security Act," which includes provisions related to cloud computing.

 

2020: The COVID-19 pandemic forced many businesses to adopt remote working, which increased the demand for cloud computing services in Bangladesh.

 

2021: Bangladesh's Ministry of Posts, Telecommunications, and Information Technology launched the country's first "Cloud Services Policy," which aims to promote the adoption of cloud computing in various sectors of the economy.

 

Cloud computing
Cloud Computing

Cloud computing is still a relatively new technology in Bangladesh, and its adoption in various industries, including insurance, has been slow but steady. According to a report by the Bangladesh Association of Software and Information Services (BASIS), the cloud computing market in Bangladesh was valued at USD 13.67 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2025.

 

The Bangladesh Bank has issued guidelines for the use of cloud computing in the financial sector, including insurance. These guidelines outline the requirements for cloud service providers and users to ensure the security and privacy of data. Some insurance companies in Bangladesh have started to adopt cloud computing for their operations, but the extent of adoption varies.

 

Overall, the adoption of cloud computing in the insurance industry in Bangladesh is still in its early stages, and its timeline may vary from one company to another.

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