This archive report was first published on 28 October 2021.
On October 28, 2021, AVLC Group introduced BIMA HIMA, a groundbreaking mobile insurance premium finance platform in Kenya.
This innovative platform enables customers to obtain motor vehicle or medical insurance cover on credit directly from their mobile phones.
According to AVLC Group Chief Executive Officer Andrew Kanyutu, BIMA HIMA simplifies the insurance process by allowing customers to pay premiums in up to four instalments.
"The process of getting your insurance policy has now been simplified through technology, and our customers will also get the insurance cover on credit," Kanyutu explained during the platform's launch.
Customers can access BIMA HIMA by registering through a USSD code (48301#) on their mobile phones.
However, customers must first obtain a premium quotation from respective underwriters or agents before the insurance premium cover is approved.
The insurance cover offered by BIMA HIMA is provided through BKY Insurance Agency, a licensed agency with the Insurance Regulatory Authority and an affiliate company of AVLC Group.
AVLC Group Chairman Moses Mureithi praised the new platform, stating that it will increase insurance penetration in the Kenyan market, which currently stands at 3%.
"Bima Hima is expected to increase insurance penetration in the Kenyan market since the industry is still characterized by low penetration levels," Mureithi said.
He added that the product will also be available to Kenyans who have been blacklisted by the Credit Reference Bureau.
AVLC Group Executive Director John Kageche described the platform as a financing solution to Kenyans during the pandemic period.
"Anyone that needs Insurance now, to pay later can use BIMA HIMA. The product allows you to buy insurance for anyone, at anytime and anywhere in the world," Kageche said.
