Insurance startup turns to mobile technology and social media to extend services

BIMA, a Swedish microinsurance startup, is trying to make it easier for people to acquire insurance coverage using mobile technology and social media. The company has developed a platform that digitalises their processes to apply for insurance coverage and claim benefits. "We have paperless registration that can be completed in less than one minute, we provide SMS confirmation to the customer's mobile phone, and we have over 20 million micro-payments each day [deducted] from the person's mobile money account or prepaid or postpaid account.