DHAKA, Insurance Bulletin: The Insurance Development and Regulatory Authority (IDRA) has been recognized with the prestigious "Best Innovative Initiative" award at the Innovation Showcasing 2025-26. The accolade honors the successful development and implementation of IDRA's dedicated mobile application, 'Insuplaint'. Organized by the Financial Institutions Division, the event featured Finance Minister Amir Khosru Mahmud Chowdhury as the chief guest. On July 6, the Honorable Minister formally handed over the award to IDRA Chairman Mir Nadia Nivin.
The 'Insuplaint' app was launched to modernize the insurance sector, simplify claim settlements, and restore customer confidence. Through this platform, policyholders can conveniently file insurance claims and submit complaints from anywhere in the country without the need to visit a physical office. Furthermore, users can track the real-time progress and settlement status of their claims and grievances directly from their mobile devices. This digital integration also empowers the regulatory authority with a centralized dashboard to effectively monitor whether insurance companies are resolving customer claims and complaints in a timely manner.
Alongside 'Insuplaint', IDRA highlighted its central digital platform, the 'Bima Tathya App'. Designed for policy verification, this platform streamlines the validation process for customers and plays a crucial role in preventing fake and duplicate policies. By ensuring transparency, the app is actively boosting public trust, driving up premium collections, and making a significant contribution to the broader national financial sector.
The event showcased innovative projects from 25 departments and agencies under the Financial Institutions Division. Following a rigorous evaluation, five institutions were awarded across five distinct categories. Alongside IDRA winning in the Regulatory Authority category for its 'Insuplaint' app, Janata Bank PLC received the award in the State-Owned Commercial Bank category for 'Janata-Pay'. In the State-Owned Specialized Bank category, Probashi Kallyan Bank was recognized for its 'E-Migration Loan Service'.
Additionally, the Bangladesh House Building Finance Corporation (BHBFC) secured the Financial Institution category award for the 'Automation of Document Return Process', while the Palli Karma-Sahayak Foundation (PKSF) was honored in the Other Institutions category for its 'GIS-Based Supervision and Monitoring System'.
