Jiban Bima Corporation
- Company typePrivate
- Founded-
- HeadquartersDhaka, Dhaka Division, Bangladesh
- Headcount51–100
- GTM typeB2C
- OfferingServices
Jiban Bima Corporation firmographics
Firmographics- Name
- Jiban Bima Corporation
- Legal name
- Jiban Bima Corporation
- Website
- https://jbc.gov.bd
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Jiban Bima Corporation industry classification
Industry- Product category
- Life Insurance
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)
- SIC
- Life Insurance (6311), Accident & Health Insurance (6321)
- akta.pro primary industry
- Participating (Dividend) Whole Life Insurance (FSAIABAI)
- akta.pro secondary industries
- Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD), Personal Accident Insurance (Injury, Disability & Income Benefit) (FSAJAJAD)
Keywords
Where Jiban Bima Corporation is headquartered
LocationHeadquarters
- HQ city
- Dhaka, Dhaka Division
- HQ country
- Bangladesh
- HQ region
- Asia
Offices9 records
Markets served
Jiban Bima Corporation business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Life Insurance Premiums: Collection of recurring premiums from individual and group life insurance policyholders. Premiums are collected through agents, bank branches, mobile banking, and digital payment channels.
- Investment Income: Income generated from investment of the Life Fund accumulated from premium collections and reserves.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Term Insurance (Without Bonus) |
| Subscription | Annual | Endowment Insurance (With Bonus) |
| Subscription | Semi-Annual | Pension Insurance |
| Subscription | Annual | Three Installment Insurance |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
Jiban Bima Corporation product offering
Product offeringCore offering
Jiban Bima Corporation is Bangladesh's state-owned life insurance corporation offering participating and non-participating life insurance products including pension insurance, endowment insurance (with bonus and installment options), term insurance with and without bonus, supplementary benefits, health insurance, and migrant worker insurance. The corporation distributes through its own offices, bank branches, mobile banking channels, and agent networks across Bangladesh.
Product overview
Jiban Bima Corporation (JBC) operates as Bangladesh's state-owned life insurance corporation under the Financial Institutions Division of the Ministry of Finance. JBC offers a portfolio of participating and non-participating life insurance products including pension insurance, endowment insurance with multiple installment payment options (three-installment, multi-installment), and term insurance policies. The product range includes core life coverage with optional supplementary benefits such as health insurance and accident coverage. JBC provides digital services including e-premium payment through multiple banking channels and mobile banking platforms, policy information lookup, premium calculators, and online certificate services.
Differentiator
Problem solved
Functional benefit
Products and services
- Pension Insurance Policy (List No. 60) Term-based pension insurance policy that provides guaranteed pension for 10, 15, or 20 years, available to individuals aged 20-60 years with sum assured from BDT 50,000 to unlimited. Includes bonus, tax rebate benefits, and nominee benefits upon policyholder's death before pension commencement.
- Three Installment Insurance Participating endowment insurance where the policyholder receives 25% at one-third of term, 25% at two-thirds of term, and remaining 50% plus bonus at maturity. Available for 12, 15, 18, 21, 24, or 30 year terms with optional accident coverage (DIAB/PDAB).
- Multi-Installment Insurance with Profit Multi-installment endowment insurance with profit payments distributed every two years, providing financial assistance at multiple intervals before maturity. Available in 10, 15, or 20 year terms with minimum sum assured of BDT 60,000.
- Term Installment Insurance with Bonus Participating term insurance policy that provides death benefit coverage plus accumulated bonus payments distributed throughout the policy term.
- Term Insurance without Bonus Non-participating term insurance policy that provides a basic death benefit, with premiums paid at regular intervals.
- Supplementary Benefits Additional insurance benefits, including accident and disability coverage, that can be attached to main policies to enhance coverage for policyholders.
- Health Insurance Health insurance coverage providing hospitalization plan claims and mediclaim benefits to insured individuals.
- Migrant Worker Insurance Life insurance coverage for Bangladeshi migrant workers employed abroad, with dedicated certificate issuance services for overseas employment requirements.
Quantifiable outcome
- Death claim amounts are completely tax-free (exempt from income tax)
- +1 more outcomes
Companies that use Jiban Bima Corporation
Customer profileSegments4 records
Ideal customer profiles3 records
Jiban Bima Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature5 records
Jiban Bima Corporation partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, regulatory and training.
- United Commercial Bank PLCcoreBancassurance partnership where United Commercial Bank PLC acts as corporate agent for Jiban Bima Corporation insurance products. Activity started from June 8, 2024.
- Sonali Bank PLCcoreSonali Bank PLC serves as a payment gateway partner for collecting insurance premiums. Policyholders can pay premiums through all Sonali Bank PLC branches, agent points, and online payment gateway.
- Agrani Bank PLCcoreAgrani Bank PLC branches serve as premium collection points for Jiban Bima Corporation policyholders.
- Dutch-Bangla Bank PLCcoreDutch-Bangla Bank PLC branches serve as premium collection points for Jiban Bima Corporation policyholders.
- bKashcorebKash mobile financial service enables JBC policyholders to pay insurance premiums through their mobile banking accounts.
- NagadcoreNagad mobile financial service enables JBC policyholders to pay insurance premiums through their mobile banking accounts.
- RocketcoreRocket mobile financial service enables JBC policyholders to pay insurance premiums through their mobile banking accounts.
- Nexus PaycoreNexus Pay digital payment platform enables JBC policyholders to pay insurance premiums digitally.
- National Commerce and Credit Bank PLCcoreBancassurance partnership where National Commerce and Credit Bank PLC acts as corporate agent for Jiban Bima Corporation insurance products.
- Insurance Development and Regulatory Authority (IDRA)regulatoryRegulatory body overseeing insurance operations in Bangladesh. Listed as an important external link on JBC website.
- Bangladesh BankregulatoryCentral bank of Bangladesh, listed as an important link for financial sector coordination.
- Insurance AcademytrainingInsurance Academy of Bangladesh provides professional training for insurance professionals. Listed as an important external link.
Scale indicators1 record
Recent moves6 records
Expansion highlights6 records
Jiban Bima Corporation competitors and assessment
Company assessmentDirect peers
- MetLife Bangladesh: One of the largest private life insurers in Bangladesh, offering term, endowment, pension, and group life products through bancassurance and agency channels — directly comparable product set and target customers to JBC.
- Sadharan Bima Corporation: Bangladesh's other state-owned statutory insurance corporation under the Ministry of Finance, historically focused on general insurance but operating as a peer government insurer with similar nationwide mandate and regulatory positioning to Jiban Bima Corporation.
- Delta Life Insurance Company Limited: Bangladesh-listed private life insurer offering endowment, term, pension, and group life products through agents and bancassurance; competes with JBC for individual and group policyholders across Bangladesh.
- National Life Insurance Company Limited: One of Bangladesh's older private life insurers offering endowment, term, and pension policies through agency and bank channels, directly competing with JBC's core product portfolio.
- Green Delta Life Insurance: Bangladesh-based insurer offering life insurance products alongside its larger general insurance franchise; competes with JBC in participating endowment and group life segments.
- Sun Life Insurance Company Limited: Bangladesh-licensed private life insurer offering endowment, term, and group life products; competes head-to-head with JBC for individual policyholders and bancassurance partnerships.
- Pragati Life Insurance Limited: Bangladesh-licensed private life insurer offering participating and non-participating life and pension products through a similar bancassurance and agency distribution model.
- Meghna Life Insurance Limited: Bangladesh-based private life insurer offering endowment, term, and pension products; directly comparable to JBC in product mix and target customer segments.
Broad incumbents
- Life Insurance Corporation of India (LIC): State-owned life insurance giant and dominant market incumbent in the Indian subcontinent — comparable as a publicly-trusted, government-backed life insurer with a massive nationwide agent and bancassurance network, providing a regional benchmark for scale and operating model.
Regional players
- Bangladesh National Insurance Company Limited: Bangladesh-licensed composite insurer offering life, health, and accident coverage through bancassurance and direct channels; operates in the same domestic market as JBC with overlapping product categories.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Jiban Bima Corporation social profiles
Digital presenceJiban Bima Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Jiban Bima Corporation leadership team
Management profileNumber of profiles
Profiles2 records
Jiban Bima Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Jiban Bima Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Jiban Bima Corporation
What does Jiban Bima Corporation do?
Jiban Bima Corporation is Bangladesh's state-owned life insurance corporation offering participating and non-participating life insurance products including pension insurance, endowment insurance (with bonus and installment options), term insurance with and without bonus, supplementary benefits, health insurance, and migrant worker insurance. The corporation distributes through its own offices, bank branches, mobile banking channels, and agent networks across Bangladesh.
Is Jiban Bima Corporation a public or private company?
Jiban Bima Corporation is a private company. It is classified as state government owned and is currently operating.
When was Jiban Bima Corporation founded?
Jiban Bima Corporation was founded in -1. It employs 51 to 100 people.
Where is Jiban Bima Corporation based?
Jiban Bima Corporation is headquartered in Dhaka, Dhaka Division, Bangladesh, in the Asia region.
How does Jiban Bima Corporation make money?
Two revenue lines are on record. Life Insurance Premiums are the primary driver. The others are investment Income.
Who are Jiban Bima Corporation's main competitors?
Direct peers on record are MetLife Bangladesh, Sadharan Bima Corporation, Delta Life Insurance Company Limited, National Life Insurance Company Limited, Green Delta Life Insurance, Sun Life Insurance Company Limited, Pragati Life Insurance Limited and Meghna Life Insurance Limited. Life Insurance Corporation of India (LIC) is listed as a broad incumbent. Bangladesh National Insurance Company Limited is listed as a regional player.
Does Jiban Bima Corporation have an API?
No public API is recorded for Jiban Bima Corporation.
What industry is Jiban Bima Corporation in?
Jiban Bima Corporation's product category is Life Insurance. Its primary akta.pro industry code is FSAIABAI, Participating (Dividend) Whole Life Insurance, with a secondary code of FSAIAEAD, Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident). Its NAICS code is 52411 and its SIC code is 6311.