Farzana Chowdhury, ACII (UK) and Chartered Insurer, Managing Director and CEO of GDIC
Farzana Chowdhury, ACII (UK) and Chartered Insurer, Managing Director and CEO of GDIC

A Pioneer for Women's Economic Security

By Green Delta Insurance Co. Ltd.
11:39 AM, July 28, 2016

Bangladesh is a developing country in which women comprise more than 52 percent of the total population as well as the fastest-growing segment of the workforce. There exists a nexus between gender equality and economic growth. An example is Nibedita, which is the first comprehensive insurance scheme for women in South Asia.

Nibedita was launched by Green Delta Insurance Company Ltd. (GDIC), the first leading insurance company in Bangladesh to receive an AAA rating. Through its efforts, the company has not only attended to improving conditions for its own women employees but also provided resources for all working women of Bangladesh.

Setting the tone at the top

Nibedita was initiated in 2013. It was the brainchild of Farzana Chowdhury, ACII (UK) and Chartered Insurer, Managing Director and CEO of GDIC. She holds the unique distinction of being the first female CEO in the Bangladesh insurance industry. It is through her visionary and dynamic leadership that Nibedita came into being.

The nurturing and support of its visionary employees, such as Chowdhury, and the implementation of innovative projects and products have led to an improvement of the conditions of women employees within the company. It has also made GDIC a pioneer in empowering women in the insurance sector of Bangladesh.

Current statistics on women in Bangladesh

• Comprise more than 52 percent of the population
• 10.62 million working in job sector
• Constitute 80 percent of RMG workers
• 7.8 million young working women
• Women unemployment rate reduced to 5.8 percent
• Around 10 percent of total entrepreneurs are women
• 200,000 women working abroad

Role of women in Bangladesh rising

Women are now playing more significant roles in the domestic, social, and business spheres of Bangladesh.
Women’s empowerment is the prerequisite for the socioeconomic development of a country. As a developing country with a steadily growing economy, Bangladesh has seen a sharp rise in the number of women becoming more involved in economic activities, both at the micro and macro levels. As a result, issues such as gender equality and women’s empowerment, among others, are widely discussed. This eventually led to the concept of Nibedita, which caters to the needs of women and helps them become more self-dependent.

What makes Nibedita unique

This is the first scheme of its kind in the region to center on women. Besides the traditional accidental coverage areas, Nibedita also covers a few extended areas, for example trauma allowance in cases of rape, road bullying, robberies, and acid attacks. The extended coverage also includes loss or damage to household goods / personal effects due to fire / lightening, riots, storms, typhoons, floods, cyclones, and earthquake. It does not, however, cover preexisting disabilities, nor death, injury, or disablement arising from actions while intoxicated or under the influence of drugs and so on.

Nibedita provides a maximum coverage of BDT 10,00,000 (10 lac) with the minimum net premium of BDT 580 per person (including VAT) per lac.

GDIC has deployed a special sales force mostly consisting of women who go from door to door to generate awareness regarding Nibedita, as many are still unaware of the significance of having an insurance policy. Besides, when promoting it among women, Green Delta gives the utmost importance to creating awareness among men so that they become equally interested in availing themselves of policies for the women in their families.

Global recognition

Recently, Chowdhury was recognized as one of the ten Local SDG Pioneers by H.E. Ban Ki-moon at the UN Global Compact Leaders Summit 2016 in New York. She has been hailed as a pioneer for women’s economic security and for her leadership in guiding her teammates through the Nibedita scheme in increasing women’s freedom and playing a pivotal role in achieving SDG 5 for Gender Equality and Women’s Empowerment.

Chowdhury elaborates on Nibedita, saying: “Green Delta Insurance Company Ltd. has created a platform for growth, corporate governance, youth leadership, and especially women empowerment. More than 52 percent of our population is female today, and when it comes to human rights, women are always the ones that get neglected and their rights are frequently violated. Nibedita has been launched while keeping the healthcare, safety, and social needs of the females of our nation in mind. We are going beyond insurance.”

Lives inspired

Since 2013, around 5,000 women have availed themselves of the Nibedita scheme to safeguard their futures. The policyholders range from university students and housewives to entrepreneurs, corporate leaders, athletes, and artists. A good number of policyholders have already benefited from this scheme.

Going beyond insurance – the way forward

Nibedita has reached beyond the world of insurance. Nibedita has created a “One-Stop Service for Women Healthcare, Safety, and Social Needs” to support the women who are in actual need of it, in any form. A digital platform is being created for the Nibedita women, which will give them access to a better lifestyle, healthcare, and most importantly, safety. Nibedita is working to bring together women from all walks of life so they can be of help to each other by sharing experiences and best practices.

Nibedita is working as the voice of the voiceless. It can inspire oppressed women and act as their partner in need. This product aims at bringing a positive and visible change to society. With the Nibedita policy, women will find strength in their time of peril. Thus, Nibedita is playing a vital role in shaping the mindsets of the women of Bangladesh to become self-dependent.

About the Author
Green Delta Insurance Co. Ltd.

About Green Delta Insurance Co. Ltd.

Green Delta Insurance Company Limited (GDIC) is one of the leading private non life insurance companies in Bangladesh. GDIC was incorporated in December 14, 1985 as public limited company under the companies’ Act. 1913. But the actual operation of the company started on 1st January 1986, with a paid up capital of BDT 30.00 million only. The shares of the company are listed with both Dhaka and Chittagong stock exchanges as a publicly quoted company. In 1997, GDIC participated in equity investment to establish Delta Brac Housing Ltd. In 2005, GDIC sponsored a joint venture consortium firm named Green Delta Aims Ltd. This year, the company also floated its very first subsidiary “Green Delta Financial Services Ltd.” – a share brokerage firm. At present the company has been operating its business through 36 branches located at different strategically important areas of Bangladesh. Stepping at it’s 25th birthday, Green Delta Insurance Company Limited has now become a big family of 20 respected board members, 11 dedicated senior management members, 600+ committed staff, numerous valued clients and thousands of esteemed shareholders with a paid up capital of BDT 408.24 million.

With the charismatic leadership of Mr. Nasir A Choudhury, Green Delta Insurance Company Ltd. has been leading the wind of change in the insurance industry of the country in terms of service standard, innovative products and legislative restructuring.

With the slogan “Marches with time” -- during the last 25 years, GDIC has been helping people in the time of need; pulling all the steps when needed and has been proud to be a partner in progress. Hence GDIC has achieved an excellent market reputation with the leading position in the non life insurance business industry of the country.

Products & Services


  •     Risk Management
  •     Property All Risks Insurance including Business interruption
  •     Electronic Equipments and Computer insurance
  •     Corporate Hospitalization cover
  •     Corporate Overseas Health policy


  •     Portfolio cover
  •     Credit card Protection Insurance
  •     Bankers Blanket Insurance
  •     Money Insurance
  •     Idelity Bond


  •     Fire & Allied Perils Insurance
  •     Marine Cargo & Hull Insurance
  •     All types of Aviation Insurance
  •     All types of Automobile Insurance
  •     All types of Accident, Miscellanious & Liability Insurance
  •     All types of Engineering Insurance

Takaful (Islamic)

  •     All types of (non life) Takaful Products

Investment & Portfolio Management

  •     Underwriting
  •     Pre-IPO placement Syndicate
  •     Trusteership

Source: green-delta.com

The views expressed in this article are the author's own and do not necessarily reflect CSR Manager's editorial policy.
Post Comment

Write a comment about this page

Your comments are provided by your own free will and you take sole responsibility for any direct or indirect liability. In order to maintain the highest discussion quality, all comments will be reviewed by our editors. You hereby provide us with an irrevocable, unlimited, and global license for no consideration to use, reuse, delete or publish comments in accordance with our Community Guidelines.





CSR Manager Logo


















About Us // Privacy Policy // Copyright Information // Legal Disclaimer // Contact

Copyright © 2012-2018 macondo publishing GmbH. All rights reserved.
The CSR Academy is an independent learning platform of the macondo publishing group.