Shanta Life Insurance

What Shanta Life Insurance does

Shanta Life Insurance PLC is a Bangladesh-based life insurance company headquartered in Dhaka that commenced operations after receiving its insurance license from the Insurance Development and Regulatory Authority (IDRA) on November 7, 2023, and officially launched on December 1, 2024. The company is backed by a consortium of Shanta Holdings group entities and allied investors and operates with approximately 34 employees. Its stated mission is to provide insurance access across retail, corporate, and underbanked population segments in Bangladesh, supported by multi-channel distribution.

Shanta Life's product portfolio spans individual plans (Endowment, Multi-Stage Maturity, Child Education, and Depositor's Protection), corporate group plans (Group Life, Health Insurance, Critical Illness, and Accidental Coverage), and microinsurance products (Loan Shield, Deposit Shield, and Term Life) targeted at low-income and underbanked borrowers. The technology stack consists of a 'My Portal' digital self-service platform, a premium calculator, telemedicine access for policyholders, EFT-enabled premium collection, and payment integrations with bKash, Rocket, and SSLCommerz. Distribution is delivered through four parallel channels: direct agents, bancassurance (Eastern Bank), NGO-partnered microinsurance, and digital self-service.

The revenue model is premium-driven across individual policies, corporate group contracts, and microinsurance products. Reported operational metrics include 153,713 lives insured cumulatively, 9,154 claims settled, a 99% claims settlement ratio, and a 5-day average claim settlement time. The go-to-market combines affinity distribution through the Shanta Holdings ecosystem, embedded insurance via Eastern Bank's branch network (planned for April 2026), NGO-anchored microinsurance for low-income segments, and a digital portal for self-serve buyers.

Name

Shanta Life Insurance

Legal name

Shanta Life Insurance PLC

Website

https://shantalife.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Shanta Life Insurance PLC is a Bangladesh-based life insurer offering individual, group, and microinsurance products to retail, corporate, and underbanked customers via direct agents, bancassurance (Eastern Bank), NGO partnerships, and a digital self-service portal.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK), Group Universal Life (GUL) (FSAIADAC)

Keywords

• Life insurance products
• Group health insurance
• Microinsurance solutions
• Savings investment plans
• Bancassurance distribution

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: Core revenue from collected premiums on life insurance policies including term, endowment, multi-stage maturity, child education, and microinsurance products. Premiums can be paid monthly, quarterly, half-yearly, or annually.
2. Bancassurance Commissions: Revenue through partnership commissions from Eastern Bank for distributing insurance products through banking channels
3. Microinsurance Premiums: Premiums collected from microinsurance products offered through NGO and institutional partnerships targeting low-income segments

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

Shanta Life Insurance PLC is a multi-channel life insurance provider in Bangladesh offering individual life and savings plans, corporate group life and health insurance, microinsurance for low-income segments, and bancassurance products distributed through banking channels. The portfolio spans endowment plans, multi-stage maturity plans, child education plans, depositor's protection plans, term life, accident and critical illness riders, group health with telemedicine and cashless hospitalization, and microinsurance products such as Loan Shield and Deposit Shield. Customers can self-serve through the My Portal digital platform, mobile payments (bKash, Rocket), and a relationship officer network.

Product overview

Shanta Life Insurance operates as a multi-channel life insurance provider in Bangladesh offering individual, corporate, microinsurance, and bancassurance products. The individual portfolio includes Savings & Investment Plans (Endowment, Multi-Stage Maturity, Depositor's Protection Plan), Health & Protection products (Accidental Coverage, Critical Protection, Waiver of Premium, Spouse Shield, Term Insurance), and Child Education Plans. Corporate offerings encompass Group Life Insurance with health add-ons including cashless hospitalization, integrated hospital networks, telemedicine, and lifestyle privileges. Microinsurance targets low-income segments through Loan Shield, Deposit Shield, and Term Life products distributed via NGOs and financial institutions. The My Portal digital platform enables policy self-service for claims, premium payments, and policy management. Products are distributed through agents, corporate partnerships, bank partnerships (bancassurance with Eastern Bank), and microfinance channel partnerships.

Differentiator

Problem solved

Functional benefit

Products and services

• Individual Plans A product line for individual policyholders offering savings, investment, health protection, and child education life insurance plans tailored to personal customers and families.
• Corporate Plans A product line for businesses offering group life insurance, accidental death and permanent disability coverage, critical illness coverage, and health benefits including cashless hospitalization and telemedicine for employees.
• Bancassurance Plans A product line distributed through banking partnerships, currently with Eastern Bank PLC, that offers life insurance coverage aligned with banking products to bank customers.
• Microinsurance Plans A product line for low-income individuals and microfinance borrowers offering affordable insurance coverage including Loan Shield, Deposit Shield, and Term Life products distributed through NGO and microfinance partners.
• Shanta Depositor's Protection Plan (SDPP) A combined savings and protection plan offered in Elite, Signature, and Prime variants providing maturity benefits, life insurance, accidental death coverage, and critical illness protection.
• Shanta Endowment Plan A savings-linked life insurance plan offering guaranteed sum assured with flexible premium payment options (monthly, quarterly, half-yearly, or annual) and customizable coverage.
• Shanta Multi-Stage Maturity Plans A structured payout plan with two variants: Shanta 3 Payment Plan (3-stage payouts) and Shanta 4 Payment Plan (4-stage wealth building), with policy terms from 12 to 28 years and entry ages from 30 days to 60 years.
• Shanta Child Education Plan An education-focused savings plan providing monthly stipends (1%, 2%, or 3% of sum assured) if the parent passes away, with future premium waiver and full maturity benefit for the child's education.
• Group Life Insurance Group life coverage for corporate employees providing financial support to nominated beneficiaries upon death, with a 5-day claim settlement time and 98% settlement rate.
• My Portal A customer self-service digital platform enabling policyholders to view policy details, pay premiums, submit claims, request EFT transfers, and manage policy alterations online.
• Loan Shield A microinsurance product covering death (natural and accidental) and permanent total disability for loan borrowers, repaying outstanding loans as a death benefit to protect borrower families.
• Deposit Shield A microinsurance product for term deposit holders covering death, accidental death, and permanent total disability, paying full maturity value to beneficiaries upon claim.
• Term Life Insurance (Micro) A micro term insurance product covering death, accidental death, and permanent total disability with in-hospitalization benefits and hospital discount facilities for low-income policyholders.

Quantifiable outcome

• 99% claims settlement rate
• +3 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Eastern Bank PLC (EBL)coreChannel Partner/ Reseller/ Distributor · 5 April 2026Bancassurance partnership enabling Eastern Bank customers to access Shanta Life insurance products directly through banking channels. The partnership was officially launched on April 5, 2026, marking a significant milestone in integrated financial services distribution in Bangladesh.
• Heed Sanchoy Rindan Samobay Samity LtdcoreChannel Partner/ Reseller/ DistributorMicroinsurance strategic partner providing distribution channels for reaching low-income individuals through cooperative societies.
• Sehed SocietycoreChannel Partner/ Reseller/ DistributorMicroinsurance partner distributing insurance products to cooperative society members.
• Association for Social ProgresscoreChannel Partner/ Reseller/ DistributorNGO partner for microinsurance distribution to underserved communities.
• R N Consortium LtdminorChannel Partner/ Reseller/ DistributorMicroinsurance partner for distribution through consortium network.
• Grameen Jano Unnayan SangsthacoreChannel Partner/ Reseller/ DistributorNGO partner for microinsurance distribution to rural and low-income populations.
• AEPONminorChannel Partner/ Reseller/ DistributorPartner organization for microinsurance distribution.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• MetLife Bangladesh: One of the largest international life insurers operating in Bangladesh with a mature agency channel and group/individual life products. Directly comparable to Shanta Life given the overlapping product set (term, endowment, group) and the shared talent pipeline (multiple Shanta Life executives previously led at MetLife Bangladesh).
• Sun Life Insurance (Bangladesh): Bangladesh-based life insurer with individual, group, and microinsurance products. Comparable as a domestic direct competitor in the same local market with overlapping target segments.
• Delta Life Insurance: One of the largest listed life insurers in Bangladesh, offering a broad range of individual, group, and microinsurance products through an extensive agent network. Directly comparable across product mix, distribution model, and target customer segments.
• Padma Islami Life Insurance: Bangladesh-based Shariah-compliant life insurer with individual and group products. Comparable as a direct domestic competitor, particularly in the microinsurance and savings-linked individual segments.
• Prime Islami Life Insurance: Bangladesh-based Islamic life insurer offering individual, group, and microinsurance products through an agent and partner channel model. Directly comparable in microinsurance and individual endowment focus.
• Green Delta Insurance: One of Bangladesh's largest composite insurers (life and non-life) with a strong bancassurance and corporate distribution footprint. Directly comparable in life insurance product breadth and corporate group coverage offerings.
• National Life Insurance (Jiban Bima Corporation): Bangladesh's state-owned life insurance company with a nationwide branch and agent network. Directly comparable as a full-service life insurer with individual, group, and microinsurance products serving the same Bangladeshi market.
• Guardian Life Insurance (Bangladesh): Bangladesh-focused life insurer offering individual and group life products. Directly comparable in product mix and Bangladesh-only market focus; Shanta Life's CFO previously headed Finance & Accounts at Guardian Life for nine years.
• Pragati Life Insurance: Listed Bangladeshi life insurer offering endowment, term, and group life products. Directly comparable in product portfolio and Bangladesh market focus; notably, Shanta Life's CFO previously served as Deputy CFO at Pragati Life.

Broad incumbents

• AIA Bangladesh: Regional pan-Asian life insurance major with Bangladesh operations offering individual and group life and health products. Comparable as a broad incumbent competitor with deeper capital, multinational reinsurance relationships, and a more established brand in the same market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ShantaLifeInsurance
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/shanta-life-insurance
• Instagraminstagram.com/shanta_life_insurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shanta Life Insurance