MD & CEO | Green Delta Insurance Company Limited (GDIC)
Ms. Farzana Chowdhury, ACII (UK) is the Managing Director & Chief Executive Officer of Green Delta Insurance Company Limited (GDIC) – the only non-life insurance company with IFC World Bank equity investment in the country which has been awarded with the prestigious AAA rating for the 2nd year running.
Being the first female Managing Director and CEO in the financial sector of the country, her guiding philosophy has always been driven by the intent of adding value not just in business but in every sphere that touches her life. Accordingly for more than two decades, in a country where insurance is least penetrated at a time when it is needed the most, Ms. Farzana and her team have been able to work to bridge this gap by embracing transparent processes and forthright practices.
Having the most prestigious ACII after completing Masters from Monash University, Melbourne, Australia under AUS Aid scholarship, she introduced numerous successful integrated insurance models involving SME sector; micro health for the RMG workers and poor people through ‘Shudin’ and ‘Niramoy’; major remittance earners – migrant labors with ‘Probashi’; majority of the population – the female segment
Through ’Nibedita’ and the backbone of the country’s economy – the agriculture through Weather Index Insurance (WII).
As one of the 17 participants from across the globe, she was selected by the US State Department, for the International Women Leaders Mentoring Partnership program sponsored by US State Department and Fortune 500 companies in 2006. She has been key speakers in many national and international events including recently held International Conference on ‘Transformation Challenges and Opportunities for Bangladesh Garment Industry’ at Harvard University.
She was a key speaker in Bangladesh Roadshow UK 2015 organized by Board of Investments (BOI) in London. She also was a guest speaker at Global Index Insurance Conference 2015 organized by World Bank group’s Global Index Insurance facility (GIIF) in Paris.
Ms. Farzana has received overwhelming warmth and respect for her pioneering efforts in taking the cause of insurance forward. Under her leadership, GDIC has been felicitated by many prominent institutions like ARC, IFM, SAFA, ICAB, World Finance, ICSB and these awards have driven her to scale newer heights. She is also a member of the advisory council of the BRAC Business School, BRAC University.
Customer-centricity has been the hallmark of the operations of the institutions that Ms. Farzana has worked for and she has remained a key catalyst in creating a more customer- oriented enterprise like Professional Advancement Bangladesh Ltd and GD Assist Ltd – two new subsidiaries of GDIC.
Ms. Chowdhury is a member of the advisory council of Talent Nomics India. Talent Nomics is a not for profit organization focused on the issues of ender party in leadership and pay. It aims to strengthen the pipeline of women leaders across sectors and regions.
Recently another feather was added to her glittering career. She was awarded with the prestigious Chartered Insurer Status by the Chartered Insurance Institute (CII) UK. According to CII, this is the gold standard for insurance professionals and a very few professionals in Bangladesh have this distinction.
With her leadership Ms. Farzana has been relentlessly working to bring forth a positive change in the industry by introducing the concept of ‘Insurance for Everyone’.