Allianz's digital investment arm, Allianz X, has invested $96 million in start-up, BIMA, which offers life, accident, and health insurance in emerging countries. The start-up’s technology automates the underwriting process, allowing prices for as low as $0.60 per month – giving them, and Allianz, access to a market that was previously cost ineffective.

BIMA started in 2010 in Ghana, originally focusing on life and medical insurance. They’ve since expanded into mobile health insurance and now operate across 14 developing markets, with 30 million policies sold worldwide, and 575,000 new policy registrations per month.

The investment will give Allianz access into emerging, previously untapped markets.

For more information, please contact Nick Pester.