BIMA Lanka: Making Insurance and Quality Healthcare Affordable for All in Sri Lanka

#BIMALanka with its group companies have become game-changers in the insure-tech and health-tech industries in Sri Lanka. BIMA Lanka Insurance Brokers is the leading affordable #insurance broker in the country, using technology to provide a wide range of insurance options, including health, life, and accident policies. A group company that provides 24-7 #telemedicine services has grown to become the leading health-tech company in the country. Mr. Ajith Alexander , the Director & Country Head has been instrumental in steering the company through a complex ecosystem and managing a challenging balanced scorecard. With the knowledge gained from operations in nine countries across Africa and Asia, BIMA Lanka aims to achieve remarkable growth over the next five years.

Addressing Gaps

BIMA Lanka's main goal is to bridge the gap in insurance and quality healthcare access that has long affected many people in Sri Lanka. By offering affordable insurance and digital healthcare solutions tailored to the needs of under-served communities, they have made insurance and quality healthcare accessible to over 1.5 million individuals who previously lacked coverage due to financial constraints or limited access. Smart marketing, targeted outreach, and streamlined products have contributed to their success in reaching out to these previously neglected segments.

#Leadership in a Complex Environment

The insurance industry in Sri Lanka is intricate, with strict regulations, dynamic market forces, and complex distribution channels. The Country Head's leadership has been essential in navigating these challenges. Fostering innovation and adaptability within the team has helped keep BIMA Lanka at the forefront of the competition. Leveraging technology and data insights has given them a competitive edge in the market.

Balancing Social Impact and Profitability

BIMA Lanka prioritizes social impact while still ensuring profitability. Their balanced scorecard considers not only financial metrics but also the positive social change they can bring about. Strategic decision-making and careful monitoring of key performance indicators help them strike the right balance between financial excellence and societal advancement.

Combining Global Knowledge with Local Expertise

BIMA Lanka’s parent company BIMA operates in various countries across Africa and Asia and this has provided BIMA Lanka with valuable lessons. They have integrated global best practices into their operations, making them adaptable to changing market dynamics. However, they never lose sight of the unique needs of the Sri Lankan market, ensuring a balance between global expertise and local sensibilities.

Ambitious Growth Plans

We have set ambitious goals for the future, aiming to grow three-fold its current size in the next five years. To achieve this, they plan to expand into new under-served areas, introduce innovative products, and enhance customer experiences through digitalization.

BIMA Lanka's journey as a leading affordable insurance broker and quality #digital healthcare provider showcases the potential to drive positive societal change. By making insurance and quality healthcare accessible to under-served communities and demonstrating effective leadership, BIMA Lanka is redefining industry standards. With a commitment to grow the company and empower Sri Lankans with transformative solutions, BIMA Lanka is well on its way to shaping the future of the insurance and healthcare industries in the country.