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Achiever's Success Story

Bimaplan: Pioneering Insurance Inclusion in India with Cutting-edge Insurtech

Bimaplan is building India’s largest insurtech platform to provide essential insurance products to people currently underserved by existing solutions and lacking access to formal risk protection. Its full-stack embedded insurance platform UNO enables businesses to distribute relevant insurance products to their customers seamlessly. Bimaplan enables the distribution of insurance products customized as per the customers’ needs. It focuses on providing effective policies at a low premium ($5 to $50 per year) with its end-to-end digital process that can prove to be a game-changer in improving insurance penetration. It is focusing on enabling the distribution of insurance products for life, health, travel, group medical and accident cover along with wellness products such as daily hospital cash, teleconsultation.

Bimaplan’s mission is unmistakable: to bridge the gaping insurance chasm in India by delivering tailor-made insurance solutions to individuals who have historically been excluded from the insurance framework. Powered by an end-to-end digital process, Bimaplan stands on the brink of revolutionizing insurance penetration across the nation.

At the heart of Bimaplan’s offerings lies UNO, which empowers businesses to seamlessly integrate pertinent insurance products into their customer interactions. This strategic move streamlines the decision-making process for customers, rendering insurance products more pertinent and accessible. Bimaplan’s multifaceted approach aims to elevate the overall customer experience, particularly during the often complex claims process.

Bimaplan does not operate in isolation; it has cultivated partnerships with an extensive array of stakeholders, encompassing financial services firms, tech startups, e-commerce platforms, and businesses spanning various sectors. This collaborative approach enables Bimaplan to fashion insurance products that precisely cater to the unique needs of its partners and their user bases.

One noteworthy partnership is with a prominent traveltech platform, where Bimaplan now offers real-time travel insurance to an extensive customer base spanning 500 cities and comprising 2 million users. Furthermore, Bimaplan is actively facilitating the distribution of credit life insurance in rural areas through collaborations with financial services companies.

The impact of Bimaplan’s endeavors is already manifest, with over 750,000 customers benefiting from their insurance solutions and a burgeoning network of more than 60 partners. Bolstered by an impressive month-on-month growth rate of 20%, Bimaplan harbors ambitious aspirations to expand its outreach further, with the goal of serving over 10 million users by the culmination of the fiscal year 2025.

Bimaplan’s unwavering commitment to democratizing insurance in India stands poised to transform the lives of millions, ultimately making affordable and comprehensive coverage an attainable reality for those who need it most.

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