To safeguard education of millions of children across Bangladesh, Guardian Life Insurance Limited and Netizen IT recently launched Guardian Eduman Insurance.
Eduman is a school management software of Netizen IT, and currently covers over 5,000 educational institutions – which have more than two million students and 50,000 teachers.
Under the scope of Guardian Eduman Insurance, legal guardians of students will have insurance coverage for a nominal premium added to monthly school fees.
In case of a sudden demise of a guardian, there will be an immediate payout of Tk200,000 to cover the education expenses of the associated child. The teachers will also be under the coverage of this umbrella insurance, thus helping to secure the financial future of the teachers' families as well, a press release reads.
The user experience of Guardian Eduman Insurance promises to be digital and integrated with Eduman Software. Policy uptake, servicing along with claims will be fully automated within the software.
This initiative will be the second large-scale microinsurance project of Guardian Life after the widely acclaimed Guardian Brac Bima (GBB) project – where over 10 million microfinance borrowers of Brac are covered under an aggregate life insurance model, the press release added.
Sheikh Rakibul Karim, CEO of Guardian Life Insurance Limited, said, "This is an amazing initiative that will help protect the education and future of millions of children, it is our precious tribute to the upcoming 2nd National Insurance Day on 1 March, 2021."
"This new era of financial inclusion will necessitate a rethink of the role that financial sector development can play – in bringing about real economic outcomes that will lead to greater well-being of the country as a whole," he added during the official launch of Guardian Eduman Insurance recently in Cox's Bazar.
The inauguration event was chaired by Asikuzzaman Khan, president of Netizen IT Limited, where Mustafa Jabbar, minister of Post and Telecom Ministry of Bangladesh, presided over as the chief guest.
Raihan Nobel, director of Sales and Marketing of Netizen IT; Rubayat Saleheen, head of Marketing and Communications of Guardian Life; Md Touhidul Islam, vice president of Guardian Life; and Ashish Chakraborty, chief operating officer of Nagad, were also present, among others.