Bangladesh's farmers and fishers face climate shocks, disease outbreaks, and unpredictable income losses every season. Most do so without any financial safety net. On 25 June 2026, a major step was taken to change that.
UNDP Bangladesh, under the Financial Resilience in Agriculture (FRA) initiative, hosted the Agriculture Insurance Demand and Expression of Interest (EoI) Launching Workshop at Pan Pacific Sonargaon, Dhaka, formally inviting insurance sector players to co-develop and pilot agricultural insurance solutions for Bangladesh's fisheries and livestock sectors. Innovision Consulting serves as the implementing partner of the initiative.
The event brought together more than 50 insurance companies, InsurTech firms, commercial banks, microfinance institutions, and agricultural start-ups alongside government agencies, the Bangladesh Meteorological Department, and national and international development organizations. Mr. Parimal Sarker, Joint Secretary of the Local Government Division (LGD), attended as Chief Guest, with senior representation from the Insurance Development and Regulatory Authority (IDRA), the Department of Fisheries (DoF), and the Department of Livestock Services (DLS).
The EoI launch did not emerge from a planning room. It is the product of months of ground-level work.
Under the FRA initiative, Innovision Consulting conducted field visits and focus group discussions with dairy farmers, goat farmers, and fishing communities across Bangladesh's most climate-vulnerable districts. That fieldwork was followed by a two-day Demand and Market Opportunity Hackathon in Dhaka, where 18 senior officials from DoF and DLS worked together to develop demand signal tools capturing the real risk profiles, livelihood vulnerabilities, and insurance needs of farming and fishing households.
The workshop presented these tools and findings to the market, giving prospective insurance partners the evidence base they need to design products that are grounded in reality, not assumption.
The Expression of Interest opens a formal process for interested insurance sector players, including insurance companies, InsurTech firms, commercial banks, microfinance institutions (MFIs), non-government organizations (NGOs) and agricultural start-ups, to engage as partners in designing and piloting agricultural insurance solutions for Bangladesh. The EoI application highly encourages consortia between these partners, with an insurance company as lead, to cover the entire agriculture insurance value chain. It is an invitation backed by data, supported by the government, and anchored in a development framework built around the communities it intends to serve.
The participation of IDRA alongside MoFL and LGD signals that regulatory and policy conditions are being aligned from the outset, a critical factor in bringing any new insurance product successfully to market.
The EoI form will go live from 30th June 2026. Keep an eye out on Innovision’s Social Media platforms to remain updated, and join the FRA initiative.
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