Closing the protection gap
The insurance penetration in emerging markets is low, often due to expensive and complex insurance products. We partner with health tech companies, like BIMA, to help life insurers to close this protection gap and to enable them to offer through mobile technology affordable and easy-to-use insurance and health products for underserved consumers.
Concept
- Affordable and easy-to-use insurance and health products for underserved consumers via mobile technology
- Premiums can be divided into micro-instalments deducted from the customer’s airtime credit
- Simple registration via SMS or call
Target group
- Insurers in emerging markets
Origin
- Sweden
Hannover Re’s contribution
- Global standardised reinsurance contracts
- Risk transfer to close the protection gap and to facilitate BIMA’s international expansion
- Access to global network for obtaining local pricing and regulatory compliance knowledge
Flyer
Hannover Re & BIMA (2023)