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

Afrobility: Africa Tech and Business

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.

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 [e-mail] with feedback!

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

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

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