International insurance company BIMA has entered into a partnership with Coins.ph that will allow over 5 million customers to pay for insurance using Coins.ph wallet.
BIMA has been offering insurance services in the Philippines since 2014, with services such as the Personal Accident plus Life Insurance program.
With this newly-launched partnership, Melvin Juruena, Country Manager of BIMA Philippines, expects that millions of customers will be able to access the service using the Coins.ph application.
“With 77% of the Filipino population being unbanked and insurance penetration in the country being low, we at BIMA looked at new and convenient ways for customers to pay in ways that suited them,” Juruena said. “We see this partnership with Coins.ph as an incredible opportunity to reach customers who are unbanked, yet digital savvy, and need to access vital insurance services at the touch of a button.”
Meanwhile, Ron Hose, Founder and CEO of Coins.ph, revealed that the company’s wallet offers customers easier access to insurance products.
“We are very excited to be working with BIMA Philippines,” Hose said. “Coins.ph has always aimed to increase the access of Filipinos to financial services, and we are happy that we can now facilitate payments for low-cost microinsurance products.”
Other services offered through the mobile wallet from Coins.ph include bill payments, remittances and online shopping at more than 100,000 merchants.
BIMA offers health and insurance products in 13 countries worldwide, including the Philippines, serving more than 31 million customers.
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