Internet of Things (IoT) Timeline in Bangladesh and Insurance Sector

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The Internet of Things (IoT) technology is still in its early stages in Bangladesh. However, there have been some notable developments in recent years:

 

2016: The government of Bangladesh launched the "Digital Bangladesh" initiative, which aimed to digitize government services and increase access to technology across the country. This initiative has helped to create an environment that is more conducive to IoT development.

 

2017: The Bangladesh Telecommunication Regulatory Commission (BTRC) published a draft IoT policy, which outlined guidelines for IoT implementation in the country. This policy is still under review and has not been officially implemented.

 

2018: The ICT division of the Bangladesh government signed an agreement with Ericsson to develop a roadmap for 5G deployment in the country. 5G networks are expected to play a significant role in enabling IoT devices to communicate with each other and with the internet.

 

2019: The Bangladesh Association of Software and Information Services (BASIS) held an IoT summit, which brought together experts from the industry to discuss the future of IoT in Bangladesh. The event focused on how IoT could be used to improve the country's agriculture, healthcare, and manufacturing sectors.

 

2020: The COVID-19 pandemic highlighted the importance of IoT in enabling remote work and remote healthcare. In response, several companies in Bangladesh began developing IoT solutions to help manage the pandemic, such as contact tracing apps and remote patient monitoring systems.

 

Overall, while IoT development in Bangladesh is still in its early stages, there is significant interest and potential for growth in the coming years. The government's focus on digitization and the increasing availability of 5G networks are expected to be key drivers of IoT adoption in the country.

 

IoT
IoT

The use of IoT technology in the insurance industry in Bangladesh is still at an early stage, but there have been some notable developments in recent years:

 

2018: MetLife Bangladesh, a leading insurance company in the country, launched an innovative new product called "MetLife Infinity." This product uses IoT technology to allow customers to create a digital legacy for their loved ones, with features such as a secure digital vault for important documents and the ability to record and share video messages.

 

2019: Green Delta Insurance, another major insurance company in Bangladesh, partnered with a local IoT company to launch a pilot project using IoT sensors to monitor vehicle driving behavior. The goal of the project was to encourage safer driving habits and reduce the risk of accidents.

 

2020: In response to the COVID-19 pandemic, some insurance companies in Bangladesh began exploring the use of IoT technology to offer new products and services, such as remote health monitoring for policyholders and virtual claims processing.

 

Overall, while IoT adoption in the insurance industry in Bangladesh is still relatively low, there are signs that some companies are beginning to explore the potential of this technology. As IoT devices become more widely available and the benefits of IoT-based insurance products become clearer, it is likely that we will see more adoption of IoT in the industry in the coming years.


Author

 Maryam Saeed Dogar

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