BIMA overview

BIMA uses technology to provide health services and insurance to low-income families and emerging markets. The company focuses on providing low-cost insurance that can be browsed, selected and paid for via a mobile phone, allowing for greater accessibility. Customers can gain cover by simply answering a few questions via a call or SMS.

BIMA’s proprietary technology delivers affordable insurance and health products to emerging markets customers who need them but cannot access them through traditional channels. Their business combines mobile technology, partnerships with mobile operators and a dedicated 3,500-person salesforce to achieve scale and profitability.

BIMA have a library of more than 40 micro-insurance and mobile health products and services (some of which start for as little as $0.02 a day) designed for low-income individuals and families. Approximately 93% of the company’s customer base live on less than $10 a day, with BIMA claiming that for 75% of its customer base, it’s the first time they’ve been covered.

Since its launch back in 2010, BIMA has grown to serve over 30 million subscribers from 15 countries across Africa, Asia and Latin America. In December 2017 BIMA announced a $100M investment from Allianz X, the digital investment unit for Allianz Group. BIMA Founder and CEO Gustaf Agartson, who previously worked in management roles at the telecommunications company Tele2, has disclosed that the latest funding will be used to help the company scale existing and new markets, as well as continue to innovate products and services.

Allianz’s participation in BIMA provides an ability to deepen their emerging markets footprint and use the latest technologies to distribute insurance products to customers who need it most. Since launching in 2010, BIMA has scaled operations in 14 countries on three continents and has 24 million registered customers to date. Allianz’s investment will allow the company to continue its rapid growth trajectory by harnessing soaring mobile penetration in emerging markets and deliver against an ambition to reach 1 billion consumers.

In July 2018, the company was awarded Ghana's first ever telemedicine license in collaboration with the Health Facility Regulatory Agency and the nation's Ministry of Health. Then, in 2019, they picked up first prize for ‘Best mobile innovation for health & biotech’ at the world-renowned GSMA Global Mobile Awards (GLOMO Awards).

BIMA raised a further $30m for micro health and life insurance solutions for emerging markets in Africa and Asia in September 2020. The company stated it planned to use the funds to bolster its telemedicine and health services after seeing increased demand due to Covid-19. The company has grown its customer base by around 11m people in two years.

Map showing the location of BIMA

Stockholm, Sweden

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Key people

Marie Kyle Head of Product Development & Innovation
Anja Blumert Head of M&A at Millicom
Coenraad Vrolijk Board Member
Harish Karakoti Regional Manager, South Asia
Paddy Partridge Regional Manager, Africa
Mathilda Strom Deputy Ceo / Head Of Business Development
Nazim Cetin CEO of Allianz X
Sara Varda St Vincent Chief Legal Officer
Stephan Wilcke Non-Executive Director
Alastair Douglas Director Global Operations
Cynthia Gordon Board Director Kinnevik AB
George Sartorel Regional CEO Asia Pacific of Allianz
Puay Lim Yeo Regional Manager, South East Asia
Gustaf Agartson Founder and CEO
Mohd Khairil Abdullah Board Member
Jessica Thorell Board Member
Chris Bischoff Chairman of the Board of Directors
Benito Hernandez Regional Manager, Latin America
Rajat Malhotra CTO
Gary Lomsdon CFO
Lars Norling Chairman of the Board