Bima and Tigo launch free microinsurance services in Senegal

Dakar, Senegal – On April 12th, 2012, Bima, Tigo Senegal and Union des Assurances du Sénégal – Vie (UASen-Vie) launched the first mobile insurance service in Senegal, called Tigo Kiiray. Tigo customers who register for the life insurance service receive a free insurance policy for themselves and one family member as long as they spend a minimum amount of airtime credit with Tigo every month. And if they use more Tigo, they get more insurance cover.

This is the third market in which Tigo and Bima are collaborating to provide this revolutionary type of insurance, after Ghana pioneered the service in December 2010 and Tanzania followed suit in July 2011.

As in the other markets, Tigo Kiiray is designed to be simple to register for in order to give people who have never had insurance the chance to try it and understand its value to them and their families. The claims process is designed to be fast and effective, with claims being paid out within 3 days of receiving appropriate documents, and from the outset the product is designed with limited restrictions and exclusions, ensuring that all genuine claims are paid to families that need them most.

Bima takes care of the whole process, from customer registration to claims administration on behalf of Tigo and UASen-Vie, installing its proprietary Mobile Insurance Platform to automatically communicate cover levels with customers each month.

Tigo Kiiray is also on track to bring Tigo the important KPI benefits of ARPU uplift and churn reduction that it has seen with this product in Ghana and Tanzania.

Bima CEO, Gustaf Agartson, says “we are thrilled to launch our third market with Tigo and look forward to bringing you news of several more market launches over the coming months and years as mobile operators truly see the benefit that mobile insurance can bring to their bottom line”.