Member profile: BIMA

Thursday, February 20, 2020

BIMA uses mobile technology to disrupt the global insurance and health industries and fuel inclusion. We spoke to Mathilda Ström, Deputy CEO and member of the MiN Board about challenges in regulation, the importance of customer education and the insurance gender gap, among other hot topics.

MiN: How has BIMA got to where it is today?

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InsurTech - debunking myths and solving challenges across the value chain

Thursday, February 20, 2020

InsurTech can address some big challenges: lack of consumer knowledge, lack of access to consumers, differing consumer needs, low trust, inexperienced customers and high-cost structures. However, InsurTechs tend to focus mainly on increasing access and lowering costs, and many are still stuck at the digitisation stage. There has been some movement away from MNOs, although there’s been a rise in partnerships with e-commerce and e-hailing platforms. Greater use of data and analytics includes machine learning and AI, chatbots, telematics and smart contracts.

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