Afrobility: Africa Tech and Business

#39: BIMA (Milvik) - How the HealthTech company is providing insurance & medical services across emerging markets

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Overview: Today, we’re going to talk about BIMA - the HealthTech insurance company. We’ll explore BIMA's story across 6 areas:

  1. African Health care status & context
  2. BIMA Health founding and early history
  3. Fundraising & Growth
  4. Product & monetization strategy
  5. Competitive positioning & potential exit options
  6. Overall outlook.

    7. This episode was recorded on Oct 3, 2021


    Companies discussed: BIMA (Milvik), Kinnevik, LeapFrog investments, Allianz X (Allianz Group), Millicom, Digicel, China CreditEase, Jamii, M-Tiba, BlueWave, MicroEnsure & Gates Foundation


    Business concepts discussed: HealthTech (Healthcare technology), InsurTech (Insurance Technology), Telco partnership, geographical expansion & Health policy


    Conversation highlights:

    • (00:45) - Why we’re talking about BIMA Health
    • (05:15) - African Health care context
    • (05:58) - Insurance context in Africa
    • (28:58) - Founder background - Gustaf Agartson
    • (35:40) - Fundraising and early growth
    • (45:10) - BIMA Health traction- markets, users, etc
    • (49:50) - Product , go-to-market and monetization strategy
    • (1:05:38) - Geographical expansion
    • (1:07:36) - Competition and options for exits, M&A
    • (1:29:52) - Olumide’s overall thoughts and outlook
    • (1:37:05) - Bankole’s overall thoughts and outlook
    • (1:51:04) - Recommendations and small wins


      • Olumide’s recommendations & small wins:

      • Recommendation: Vusi Thembekwayo (VT Podcast) episode Wealth & Wande Coal - Ololufe
      • Small win: Noticed someone cited my MIT thesis on Smartphone Operating systems. Nice
      • Other content:  Life Expectancy stats (World Bank)

        • Bankole’s recommendations & small wins:

        • Recommendation: Love Nwantiti by CKay & Everything is a Remix - Drill Sergeant Remix & Business Breakdowns Podcast - Sky Mavis
        • Small win: Spent last weekend in Atlanta and Memphis visiting friends and family
        • Other content: Africa Renewal - UN


          • Listeners: We’d love to hear from you. Email [email protected] with feedback!

          Founders: We'd love to hear about what you're working on, email us at [email protected]

          Investors: We'd also love to link up with you to drive the ecosystem forward. Contact us at [email protected]


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          Afrobility: Africa Tech and BusinessBy Olumide Ogunsanwo and Bankole Makanju
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