BIMA has scooped the Digital Disruptor of the Year Award at the inaugural International Data Corporation (IDC) Digital Transformation Awards in the Philippines. The awards honour the achievements of those organisations that have successfully planned and executed the digital transformation (DX) of one or multiple areas of their business through the use of digital and disruptive technologies within Asia/Pacific.
The win highlights BIMA’s contribution to digital innovation in Asia as it harnesses mobile technology to bring affordable and accessible insurance to low-income and unbanked individuals in the Philippines. Using its proprietary mobile insurance platform, BIMA delivers an end-to-end entirely digitalised service to customers, from product registration via handset to premium collection in the form of daily deductions from mobile credit.
Through this, BIMA has opened up microinsurance to the mass market, driving financial inclusion for the underprivileged as well as those living in the remotest locations in the archipelago. BIMA will now compete in the regional IDC Digital Transformation Awards, joining other Asian country winners at the Digital Transformation Summit in Singapore on 28 November.