
BIMA & Tigo Honduras
Launching 'Seguro de Vida Tigo'
A groundbreaking insurance product for Honduras' largest mobile operator
Context
Tigo Honduras launched an insurance product with a local partner in 2010. Three years after launch, the product had reached 6,000 policies, a penetration of just 0.15%. They still believed in the potential of mobile-delivered insurance so they approached BIMA to develop a new offering. Within one year of our partnership, we managed to 8% of Tigo's customer base and continue to add subscribers at an impressive rate.
DESIGNING THE PRODUCT
Seguro de Vida Tigo was designed to cater to the specific needs of Tigo's customer base, namely:
- Changed the policy type to a Life cover
- Created three different price and coverage levels
- Introduced a daily deduction payment option that makes the service more accessible
RETHINKING THE DISTRIBUTION MODEL
Distribution via agents is one of the key components of the BIMA model. In Honduras, we opened a call centre that houses over 100 agents and built a team of 40 field agents. These agents educate consumers about insurance and support registration to the Seguro de Vida Tigo service.
6 weeks
to integrate and launch
81%
customers would recommend us

INTEGRATING THE BIMA MOBILE INSURANCE PLATFORM
We tailored our proprietary Mobile Insurance Platform to match the unique design of the Seguro de Vida Tigo product. We completed a secure and seamless integration with Tigo’s existing IT infrastructure in just six weeks. On an ongoing basis the platform facilitates fully electronic registrations and payment via deductions from customers pre-paid credit.
CLAIMS ADMINISTRATION AND CUSTOMER SERVICE
BIMA is responsible for administering claims, including supporting the customer in their time of need. Our dedicated agents manage claims submission and payment. We also operate a fully fledged customer service and quality assurance function, to ensure the highest standards even after the point of purchase.
IMPACT
Tigo’s partnership with BIMA has revolutionised its insurance business. In just one year, we managed to reach 8% of Tigo's subscriber base in a climate where the previous product struggled to gain traction.
In just one year BIMA has grown Tigo's insurance penetration from 0.15% to 8% of its customer base