BIMA sees huge opportunity in the Philippines, considering the country’s low insurance penetration rate of roughly 3%. Microinsurance provider BIMA has partnered with a Philippines telecoms firm to reach a wider audience , in its bid to reach one billion people worldwide , according to David Lim , BIMA ’s general manager in the Philippines . Lim said the insurance market in the region has a penetration rate of just 3 % , and BIMA 's insurance products are attractive to those that are unable to afford extensive medical or life insurance .
Microinsurance provider BIMA has partnered with a Philippines telecoms firm to reach a wider audience , in its bid to reach one billion people worldwide , according to David Lim , BIMA ’s general manager in the Philippines . Lim said the insurance market in the region has a penetration rate of just 3 % , and BIMA 's insurance products are attractive to those that are unable to afford extensive medical or life insurance .