A recent entrant into the insurance market, BIMA provides convenient, affordable life and hospitalization insurance cover via a mobile platform to nearly 400,000 often low-income, financially underserved Papua New Guineans, the majority are receiving the economic safety net of insurance cover for the first time.
PFIP’s investment grant helped BIMA expand outreach in the Highlands region, reducing delivery costs and improving customer service through and expanded agent network. PFIP is currently working with the with Department of Education, Provincial Government and Bank of PNG to develop a pilot for Financial Education integration into technical and vocational college curriculums.