Impact investors are funding services for unique consumers moving towards the middle course – but is “profit with purpose” the way forward for global goals?It’s an almost inconceivable scenario for a company in the saturated insurance markets of Europe or the US,but one mobile insurance platform working in developing countries wants to grow its customer base by 750000 people a month.
Bima, which means insurance” in Swahili, and has reached around 18 million customers in Asia,Africa and Latin America since it was set up five years ago. It works by selling life insurance through mobile phone network operators – a kind of loyalty scheme that delivers gains for the operator, and an insurance safety net for people long locked out of financial services but now redefined as “emerging consumers”.
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Source: theguardian.com