BIMA raises USD 30 million for life & health insurance amid COVID-19
Category: #headline  By Akshay Kedari  Date: 2020-09-08
  • share
  • Twitter
  • Facebook
  • LinkedIn

BIMA raises USD 30 million for life & health insurance amid COVID-19

BIMA, a London-based startup, has reportedly raised USD 30 million in an effort to meet the surging demand for its services amidst the pandemic. The company intends to deliver its services via mobile-first platform, for customers whose primary preference are phones, and not computers.

For those uninitiated, BIMA offers health & life insurance policies, as well as telemedicine services. The firm has expanded its services to include health programs to manage ailments and provide discounts for pharmacies.

The firm primarily targets underserved families that do not make more than USD 10 per day and are exposed to injuries or illnesses, sources claimed. Apparently, 75% of BIMA’s customers are acquiring insurance services for the first time.

In this context, Co-Founder of BIMA Mathilda Strom mentioned in a comment that insurance and telemedicine have become a necessity, especially during COVID-19 pandemic, which further augments the popularity for these products among emerging markets and customers.

Mathilda further added that the utilization of insurance and telemedicine services has doubled following BIMA’s initiative of covering pandemics. The company has disbursed several COVID-related claims to families of individuals who have passed away or suffered from the ailment.

CEO of BIMA, Gustaf Agartson, reportedly stated that the company is able to provide services to inaccessible communities with the help of services and tools that offer a sense of security to the people during these challenging times. He further added that the funds raised enabled BIMA to expand their operations and invest in innovative products and solutions.

As per credible sources, BIMA has around 35 million health & insurance policies and a tie up with around 2 million tele-doctor consultations, increasing its customer base by 11 million people since 2018.

Source- https://techcrunch.com/2020/09/07/bima-nabs-30m-more-for-micro-health-and-life-insurance-aimed-at-emerging-markets/

About Author

Akshay Kedari    

Akshay Kedari

Akshay holds a Bachelor’s degree in computer engineering. Despite having a penchant for software development and the like, Akshay took to writing as a career owing to his passion for the field. Presently, Akshay writes articles for itresearchbrief.com and a few oth...

Read More>>

More News By Akshay Kedari

Federal Reserve confirms U.S. economic recovery despite COVID-19 surge
Federal Reserve confirms U.S. economic recovery despite COVID-19 surge
By Akshay Kedari

The U.S. Federal Reserve in its recently issued policy statement that remained upbeat and mentioned ...

Rivian to open a second assembly plant through USD 5 billion investment
Rivian to open a second assembly plant through USD 5 billion investment
By Akshay Kedari

The new plant, which is called the “Project Tera” will be launched in the U.S. Rivian...

GOAT Brand Labs secures USD 36 million in Series A funding round
GOAT Brand Labs secures USD 36 million in Series A funding round
By Akshay Kedari

Apparel-centric platform GOAT Brand Labs has reportedly raised USD 36 million in its first funding r...