The GSMA’s Mobile Money for the Unbanked division has recently published an article about the success of BIMA’s mobile insurance solution on their blog.


The article discusses the unique approach to mobile insurance that BIMA has used with Tigo in Ghana to create a large volume of paying insurance customers using its “Freemium” model.


The article explains that after building a large volume of first time insurance subscribers (over 1 million) by offering a Free life insurance, which is based on the customers mobile phone credit usage, the “Freemium” model offers those customers the opportunity to pay 1 GHC to double their cover. By first building a free base of customers who begin to understand the benefits of insurance and trust that claims will be paid, Tigo has seen tens of thousands of customers willing to upgrade to the paying offer in a short period of time.


Tigo’s paid for customer base now significantly exceeds the paid base that most other insurance offers around the world have seen after years of operation.