Archive · 9 Jun 2025
BimaPay Finsure to Broaden Insurance Premium Financing
BimaPay Finsure helps people pay their insurance premiums by offering credit.
They partner with insurance companies and make money by managing the loan process.
They are expanding their partnerships and focusing on customers in smaller cities who might not have easy access to credit cards.
BimaPay provides financing at about 18%.
The company recently raised funds and plans to grow.
Their financing currently focuses on health cover premiums, with plans to enter the life insurance market.
This helps people by providing a more affordable option to pay their insurance.
BimaPay Finsure is expanding partnerships with insurance companies.
The company facilitates credit for insurance premium payments.
They currently have partnerships with six companies and plan to add more.
BimaPay's revenue model involves sharing interest with lenders.
The company raised $2 million last year for scaling up.
- Who
- BimaPay Finsure, a fintech company
- What
- BimaPay Finsure is expanding its insurance premium financing services.
- When
- Agreements for new partnerships will go live soon.
- Where
- Focusing on customers in Tier 2 and Tier 3 cities.
- Why
- To offer financing for insurance premiums, targeting customers in Tier 2 and 3 cities.
- Company
- BimaPay Finsure
- Service
- Facilitating credit for insurance premium payments
- Partnerships
- Six existing, three more soon
- Revenue Model
- Shares interest with lenders
- Funding Raised
- $2 million
- Customer Focus
- 70% from Tier 2 and Tier 3 cities
- FY24 Revenue
- Approximately ₹90 lakh to ₹6.5 crore
- FY25 Disbursements
- ₹600 crore