For the country to take full advantage of financial technology, 3 significant steps need to be taken.
Arup Kumar Chatterjee
Arup Chatterjee is Principal Financial Sector Specialist at the Asian Development Bank responsible for leading financial sector development initiatives and providing operational support in financial sector reform and development, regulatory and supervisory oversight architecture, insurance, pensions, financial inclusion, and Fintech. In addition, he has advised on disaster risk financing, agriculture insurance, health insurance, pensions and social security reforms, SME financing, and Takaful in Asian, African, and Latin American countries.
In his over three and half decades of work, he has traversed across insurance and reinsurance operations, financial sector policymaking, and regulations in Asia, Africa, and Latin America.
He has earlier served with the International Association of Insurance Supervisors at the Bank for International Settlements in Basel, Switzerland, Insurance Regulatory and Development Authority of India, and the Ministry of Finance, Government of India.
Connect with Arup via Twitter @chatarup
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Emerging fintech players are reshaping the ways small businesses can access working capital and cash flow finance.
Crop insurance is a valuable climate adaptation tool for disaster-prone countries like Bangladesh.
Business interruption insurance is an essential tool for business continuity. How small and medium-sized enterprises handle post-disaster disruption could be the difference between reopening their doors or closing them for good.
Households and small businesses are being offered a dizzying array of financial assistance packages to survive COVID-19, but many lack the financial skills to judge if they are right for them.
Innovative strategies are needed to provide social protections and insurance cover to daily wage earners, contract workers and others in the informal economy.
Asia will drive the growth of the global insurance market in the years to come. Technological innovation along with solid financing and the right policies will be needed to make sure as many people as possible in the region get the insurance protection they need.