Bimaplan is a three-year-old embedded insurance startup focused on enabling financial services and e-commerce platforms to effortlessly distribute insurance products to rural and semi-urban clientele. The company builds an insurance product aimed at addressing India’s large protection gap, where roughly 400 million adults lack any form of insurance. Bimaplan positions itself to reach underserved segments by integrating insurance into existing financial and commerce flows. The startup highlights the low insurance penetration in India (around 4% of GDP) as the market opportunity it targets. Leadership mentioned includes Vikul Goyal, who the company and investors are partnering with to scale distribution.

Total raised

$4M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2023