BIMA is bringing insurance to development countries

In developing countries, a mere 5% of people has a life insurance. Yet 70% has access to a mobile phone. BIMA is using the mobile coverage of these countries to bring users insurance. Users pay for the insurance with pre-paid credit. The mobile insurance company now has 24 million customers.

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BIMA offers her clients a micro insurance. Customers buy a three, six or twelve months package. This package then gives them an insurance and access to a qualified doctor. The customers pays only 60 cents a day. Since most of BIMA’s customers (93%) live with less than 10 dollars a day, it is key to keep this as low as possible. To assure this, BIMA does deals with phone and insurance companies in the countries it operates in.

Value proposition

The idea is simple, yet effective. In the developing world less than five percent of people has a (life)insurance. This is remarkable; it is in these countries especially that families suffer a great financial loss when a family member gets ill or dies. BIMA did some research and found four causes for the lack of insurance: a lack of trust, education and accessibility, and the high costs of most insurance companies. No wonder then that for 90% of BIMA’s customers, it’s the first time to ever get insurance.


The company started in December 2010. Now, in 2016, BIMA has 24 million customers in Asia, Africa, South-America and the Caribbean. They employ 3500 locals, who not only sell the service, but educate people about insurance as well. These local employees therefore play a key role in the company’s success. Technology alone isn’t going to cut it, according to BIMA.

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