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FIRST TIME INSURANCE CUSTOMERS
BIMA is the global leader in providing insurance via mobile phone technology to low income consumers across the globe.
Through innovative partnerships with mobile network operators and financial services businesses, it is providing high-quality life, health and personal accident insurance to millions, accessing a market the traditional insurance industry has struggled to reach in the past.
BIMA operates in a range of countries across Africa, South Asia and South East Asia, with low financial services penetration but high mobile phone usage. Three-quarters of its customers are buying insurance for the first time, and in Ghana and Bangladesh, BIMA has doubled insurance penetration.
The LeapFrog Difference
Since investing in BIMA in 2013, LeapFrog has been instrumental in developing the company’s strategy in areas as diverse as product development, distribution, reinsurance and branding. LeapFrog’s involvement has encouraged the investment of other global companies, with Allianz X – the digital investment unit of insurance giant Allianz Group – buying a $96.6 million stake in BIMA from LeapFrog in 2017. To continue to assist this innovative business on its growth and impact trajectory, LeapFrog has retained a small shareholding in BIMA.
BIMA is one of many financial services companies we have invested in. Learn more about the other innovative and impactful businesses LeapFrog has partnered with.