BIMA, the leading provider of mobile-delivered insurance and health services in emerging markets, has opened a new operation in Uganda. BIMA is launching in Uganda with its groundbreaking pre-paid insurance offering targeting crates an opportunity to widen access to insurance on a massive scale.
BIMA Family Life Protect will be sold in pre-paid packages, much like the way airtime credit top-up cards are purchased. This is an innovative new payment channel that will make it possible for millions of unbanked Ugandan consumers to access insurance for the first time.
Katerina Kyrilli, Business Development Manager for Africa commented on the launch “We are really excited to open our Ugandan operation, and to launch with this groundbreaking new model. Our pre-paid product is the first of its kind in the country and creates a unique opportunity for Ugandan consumers, who have been underserved by traditional insurers.
“We look forward to building our local management team as well as our agent force. Our agents will provide vital education driving financial awareness as well as sales.”
BIMA will launch in the market with its Family Life Protect, a life insurance policy that pays customers 1,000, 000 UGSH in the event of death or permanent disability from accident or injury. Prices start from just 5, 000 UGSH for 3 months of coverage. Payment and registration are carried out entirely via mobile phone handset.