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Mobile microinsurance reaching underserved Papua New Guineans

When Cindy Varvarum’s husband became ill last year, his frequent and expensive hospital visits drained most of the retired couple’s life savings.

Mobile Microinsurance tech player wins RJS Innovation Award

Mobile microinsurance tech player BIMA was awarded the inaugural Reuben James Summerlin (RJS) Innovation Award last night.The RJS Innovation Award was established to commemorate the memory of the late Pacific Financial Inclusion Programme (PFIP) Manager, Reuben Summerlin, and honour his legacy to financial inclusion in the Pacific. The Award is bestowed upon the outstanding PFIP...

UN-supported microinsurance partnership showcased at 12th International Microinsurance Conference

Colombo, Sri Lanka– BIMA credits its philosophy of putting customers at the heart of its business with its achievements in advancing insurance coverage in the region. BIMA recently shared its astounding progress and regional expansion plans in the Pacific at the 12th International Microinsurance Conference (IMC) in Sri Lanka that ran from 15 – 17 November...

Access to improved communications technology and greater awareness of banking services is helping to boost financial inclusion in Papua New Guinea while providing opportunities to service providers looking to tap into a broader market. According to data from the central bank, up to 80% of the population do not have access to any form of...

Innovative mobile microinsurance providing crucial safety net for Papua New Guineans

A simple text message is all it takes for a Papua New Guinea (PNG) citizen to sign up to affordable, new microinsurance products providing a crucial safety net for families. These new microinsurance products have managed to do away with the usual lengthy paperwork processes, preliminary health checks and identification associated with some traditional insurance products. Subscription via text message leads to enrollment and periodic insurance premiums are set up for automatic, deductions.