BIMA insurance announced that it has paid out nearly K6 million worth of claims across its Family Life and Hausik products, which are available exclusively to Digicel customers.
BIMA, Digicel and Capital Life insurance work in partnership, to bring affordable insurance services to families across Papua New Guinea.
These pay-outs have transformed the lives of families across the country during times of distress.
For as little as K3.60 to K10.80 per month, ‘Family Life’ customers can receive life insurance cover worth up to K12,000. With the same price points, the ‘Hausik’ product will pay out up to K2,880 to customers who spend two to thirty nights in hospital. Both products are available exclusively to Digicel customers, who can pay using their Digicel airtime credit. Digicel customers can purchase them by dialing; *162# + send and then select 1 to register, or can call the following numbers - 70908162 or 70908100 for assistance on how to register.
BIMA insurance products were designed in partnership with local underwriter Capital Life, and created to meet the specific needs of local customers. Both products are affordable, easy-to-understand and promise rapid payment of valid claims.
Jon Vance, CEO for BIMA in PNG, commented, “We are so proud to have paid out nearly 6 million kina’s worth of claims in such a short time. This impressive claims record shows that we have great pride in our products and the value provided for our customers. Our approach allows individuals who have never before had access to benefit from the power of insurance and it’s an honour to be able to help our customers when they need it the most.”
Most beneficiaries use the claims pay-out to care for family members left financially vulnerable after the loss of a loved one. For example, one customer Relvie, received a payment of K12,000 when his brother passed away unexpectedly at the age of 27.
“The insurance money will be used to purchase a headstone and other necessary construction for the grave. I am impressed at the effectiveness of the execution of the claim and I’m grateful,” he said.
Philip Tolley, CEO of Capital Life said, “Our partnership with BIMA has transformed the insurance landscape in PNG, with the impressive growth of both the Family Life and Hausik products evidencing the demand for affordable insurance.”
Digicel Managing Director of Mobile Business, Shivan Bhargava added, “At Digicel, we are committed to improving the lives of our customers, so we are delighted to see them benefiting from exclusive access to these unique insurance products.”
Since its launch in July 2014, BIMA has become one of the largest providers of insurance in the country, with over 300, 000 customers registered on its life and hospital products.