October 6, 2019 – Mobile e-wallet Coins.ph has partnered with insurance provider BIMA to soon allow Coins’ 5 million customers access to affordable personal accident insurance directly from its wallet.
Operating in the Philippines since 2014, BIMA previously offer Personal Accident plus Life Insurance exclusively to customers of mobile telco Smart. The insurance is paid via load deduction or through postpaid. BIMA said it was looking for new ways in which customers would be able to afford and pay for insurance since insurance penetration is low in the country. BIMA further said that its partnership with Coins is an opportunity “to reach customers who are unbanked, yet digital savvy, and need to access vital insurance services at the touch of a button.”
Coins.ph founder Ron 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.” To use the feature, customers must click the “Pay Bills” section on the Coins.ph to pay for their insurance.
While Bima is not yet in the Pay Bills section, users can also pay via Coins.ph with regards to their insurance bills on Sun Life, Pru Life, AXA, Paramount, Philam Life, Manulife, Ayala Life, Fortune Care, and Prudential Care. Coins.ph’ mobile wallet allows users to pay for bills, online shopping, and send and receive remittances in the Philippines and abroad. The app also has cryptocurrency-related services wherein users can buy digital assets such as Bitcoin.
BIMA is a leading mobile health and insurance company for emerging markets, serving 13 countries worldwide including the Philippines. The company claims to have served over 31 million customers worldwide and is acquiring an average of 572,000 new customers per month.
This article is published on BitPinas: You Can Pay Your BIMA Insurance at Coins.ph