Staff Correspondent
The government has decided to enforce the provision for providing three-day training to all the insurance agents and financial associates (FA) for booming country's insurance sector.
The Insurance Development Regulatory Authority (IDRA) has issued a circular under the Insurance Act 1958 and 2010 as well as Insurance Policy 2014 to all the insurance companies to ensure that their agents and financial associates are provided with at least three-day (72 hours) training on relevant affairs effective from next January onwards while taking new licence or renewing licence.
Sources at the IDRA said the training must be taken from its accredited institutions.
 "Providing training to insurance agents and FAs in dealing with policyholders is very urgent for the development of the insurance sector," said Sultan-ul-Abedin Molla, a member of IDRA.
 He said a circular has already been issued recently in accordance with Insurance Act and Insurance Policy.
Molla, however, said that they are considering extension of one month to implement the IDRA directive to make the three-day mandatory training for insurance agents and FAs.
 "Trained people in insurance sector are needed as more educated people are not interested to take it as a profession. Besides, there is a negative assumption among the people to be a client," he added.
The IRDA official also said that technical knowhow is also needed for the insurance agents and financial associates for improvement of the insurance sector.
 "It is a great initiative taken by our Chairman M Shefaque Ahmed, actuary, and also its members to educate grassroots level agents and financial associates which will help to further improving the sector," he said.
 The IDRA official said they have given approval to a private institution --Academy of Learning Ltd--to provide training to insurance agents and financial associates.
Replying to a question, he said they would consider more interested institutions having necessary logistic support, office and staff to give approval to provide the training.
Md Matiar Rahman, Faculty Member of Academy of Learning Ltd, said they have already started their activities including arranging workshops for resource persons, most of which are insurance experts, after getting approval from the IDRA.