Chhaya selected for accelerating Asia's cohort 10, advancing micro-insurance innovation in Bangladesh

Chhaya, Bangladesh's pioneering tech-enabled micro-insurance provider, is excited to announce its acceptance into Singapore-based Accelerating Asia Venture's distinguished Cohort 10.

This selection is a crucial step for Chhaya, reinforcing its mission to transform the micro-insurance landscape in Bangladesh.

Among hundreds of applicants across Southeast and South Asia, Chhaya is one of the nine startups chosen, reflecting its commitment to innovation and impact. The rigorous selection process, with an acceptance rate of only 1.8%, underscores the significance of this opportunity.

"This acceptance is a pivotal moment for Chhaya," said Shawon Shahriar, Co-Founder and CEO at Chhaya. "Joining the Accelerating Asia program provides us with access to invaluable mentorship, investor networks and industry insights that will empower us to scale our micro-insurance solutions more effectively. This is an opportunity for us to refine our offerings and enhance our operational capabilities, ensuring that we reach the unserved and underserved communities across Bangladesh."

Chhaya focuses on enhancing financial inclusion through innovative micro-insurance coverage tailored to the needs of individuals and families. By leveraging technology, Chhaya simplifies the insurance process, making it more accessible and affordable for those who have traditionally been excluded from the insurance ecosystem in Bangladesh. The company offers a range of products, including health, life and asset insurance, designed to provide peace of mind and financial security.

Through its strategic partnerships, including collaborations with local healthcare providers and financial institutions, Chhaya is actively working to create a robust ecosystem that supports its clients' needs. This program will allow Chhaya to enhance its product offerings and expand its reach, ensuring that more people can benefit from essential insurance services.

The organisation anticipates gaining strategic guidance and resources through this program that will enable it to accelerate growth and broaden its impact. The support from seasoned industry experts and connections with international investors will facilitate Chhaya's goal of revolutionizing access to essential financial services for individuals and families, making a tangible difference in their lives.

Chhaya's participation in Accelerating Asia also reflects the increasing recognition of the potential within the start-up ecosystem of Bangladesh. As the country continues to evolve as a hub for innovation, Chhaya stands at the forefront of this change, committed to driving financial inclusion and insurance accessibility.

"We extend our sincere gratitude to Accelerating Asia Ventures for believing in our vision," Shawon Shahriar added. "We also want to acknowledge our stakeholders, partners, employees and customers for their unwavering support, which has brought us to this significant milestone. Together, we are excited about the opportunities that lie ahead as we continue to innovate and transform lives."

As Chhaya embarks on this transformative journey with Accelerating Asia, it is ready to leverage the support of the program to enhance its impact and drive significant change within Bangladesh's micro-insurance sector.