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 insure one billion people worldwide, according to Lindsey Lim, BIMA’s country manager in the Philippines. Lim said the insurance market in the region has a penetration rate of just 3%, and BIMA's microinsurance products are attractive to customers that are unable to afford extensive medical or life insurance.