The information contained in this document belongs to Milvik AB and to the recipient of the document. The information is strictly linked to the oral comments which were made at its presentation, and may only be used by attendees of that presentation. Unauthorised copying, disclosure or distribution of the material in this document is strictly forbidden and may be unlawful. BOGOTA MAY 2016 PIONEERING MOBILE INSURANCE

Lack of education Lack of Insurance Awareness Lack of trust in insurance Expensive to reach segment Difficult to collect premiums Products not affordable OBSTACLES FACED BY INSURANCE INDUSTRY What is the core problem? THE AVERAGE HOUSEHOLD NEEDS FINANCIAL PROTECTION BUT IN EMERGING MARKETS TODAY IT IS EXCLUDED FROM IT 2

Mobile operators can help to address the insurance distribution gap THERE IS AN ATTRACTIVE INSURANCE OPPORTUNITY FOR MOBILE OPERATORS TO CAPTURE IN EMERGING MARKETS MOBILE PENETRATIONINSURANCE PENETRATION 70%2% 3

4BN UNINSURED PEOPLE IN THE EMERGING WORLD CREATES A $40BN OPPORTUNITY 100+4bn Greenfield insurance markets People uninsured 70% Mobile penetration $40bn 4

BIMA IS REACHING UNPRECEDENTED SCALE IN UNDERSERVED SEGMENT 5 YEARS 15 MARKETS 20 m SUBSCRIBERS 3,500 AGENTS 5

STRONG PARTNERSHIPS HAS BEEN KEY TO BIMA’S SUCCESS 6

BIMA LATIN AMERICA IS GROWING BY MORE THAN 100K CUSTOMERS PER MONTH BUT THERE ARE STILL MANY MORE MARKETS TO BE LAUNCHED HAITI (2014) BRAZIL (2016) PARAGUAY (2014) HONDURAS (2014) 7

GETTING EVERYTHING RIGHT 8

THE PRODUCTS ARE DESIGNED TO BE EXTREMELY SIMPLE AND ARE FULLY ENABLED BY BIMA’S SEAMLESS TECHNOLOGY SOLUTION FOR REGISTRATION, BILLING AND SMS You’ve chosen Life insurance cover of $1500. $0.02 will be deducted from your airtime daily. 1.Confirm 2. Reject Product example: Life product with Tigo in Ghana Example confirmation SMS to register 9

IN EACH MARKET, BIMA SETS UP AND FULLY MANAGES A DEDICATED PHYSICAL DISTRIBUTION NETWORK TO DRIVE EDUCATION agents per market – based in the street or in call centre driving registrations

THE BIMA PRODUCT PORTFOLIO INCLUDES COMPLEMENTARY INSURANCE AND M- HEALTH SERVICES Tele-doctor service Health screenings Medicine reminders via SMS & Whatsapp Health App Doctors on video Hospital / Pharmacy networks Life insurance Hospital insurance Accident insurance 11

TRADITIONAL INSURANCE INDUSTRY IN EMERGING MARKETS TARGET THE BANKED POPULATION WHEREAS BIMA TARGET THE MASS MARKET Banked Unbanked LIVING ON LESS THAN $10 A DAY 93% CUSTOMERS ACCESSING INSURANCE FOR THE FIRST TIME 95% TRADITIONAL INSURANCE INDUSTRY TARGET 10-15% OF THE POPULATION 12

FROM BIMA’S EXPERIENCE MOBILE TECHNOLOGY ENABLES COST EFFICIENT PAYMENTS BUT DOES NOT SOLVE THE GROWTH OF INSURANCE EDUCATION AWARENES S TRUST AGENT INTERACTION Agent interaction can to some extend be replaced by marketing but tend to be more expensive 13

BIMA HAS A TRACK RECORD OF WORKING WITH MNOS TO DELIVER STRONG PENETRATIN OF A PRODUCT IN A SHORT AMOUNT OF TIME CASE STUDY: MOBILE NETWORK OPERATOR PARTNER BACKGROUND An MNO had previously launched an insurance product, working directly with an underwriter Uptake was low and thus the MNO brought BIMA into the partnership in March 2014 After BIMA joined the partnership, insurance uptake rapidly increased KEY SUCCESS FACTORS Dedicated BIMA sales network Introduction of innovative and premium payment system On-going for 4.5 years On-going since Mar ‘14 14

TIGO AND BIMA HAVE TRANSFORMED THE INSURANCE LANDSCAPE AND ARE NOW A TRUSTED INSURANCE PROVIDER Tigo and BIMA now provide life insurance to 11% of Ghana’s adult population In Ghana Tigo is now 3 rd best known insurance brand CASE STUDY: TIGO AND BIMA IN GHANA 15

MOBILE MONEY SERVICES ARE GROWING BUT USAGE IS STILL MODEST MEANING THIS IT IS NOT YET A CHANNEL WHICH CAN BE USED TO EFFECTIVELY REACH THE MASS MARKET Source: “Mobile Money: State of the Industry 2015”, GSMA NUMBER OF LIVE MOBILE MONEY SERVICES BY REGION ( , YEAR-END) NUMBER OF REGISTRED AND ACTIVE (90 DAY) CUSTOMER ACCOUNTS BY REGION (DECEMBER 2015) 16

TYPICAL EMERGING MARKET PAYMENT METHOD PENETRATION 0-70% 50-90% 100% 10-15% 17

PRODUCT 1.Minimized number of exclusions 2.Same price for all customer 3.Few options of cover levels 4.Payment through mobile airtime, postpaid bill or mobile money SALES PROCESS 1.No health examination 2.No id check 3.Customer declaration of good health and submission of correct information 4.Electronic customer confirmation PRODUCT DESIGN AND REGISTRATION PROCESS ENABLES HIGH AGENT PRODUCTIVITY AND POSITIVE UNIT ECONOMICS 18

Electronic registration Payment collection through: Mobile airtime Postpaid bill Mobile money WHAT IS NEEDED TO ENABLE MOBILE INSURANCE PENETRATION? 1 2 INSURANCE AND TELCO REGULATORS TO ENABLE 19

20 BIMA IS PROUD TO BE THE WINNER OF MULTIPLE PRESTIGIOUS GLOBAL AWARDS FOR ITS PIONEERING WORK IN THE SPACE AWARDS Transformational Business Award for ICT (2014) Winner of the Winners Award (2014) Best Portfolio Company Leapfrog (2014) Best Emerging Market Initiative (2013) Finalist: Social Impact Award (2013) Finalist: Award for Best Product, Initiative or Service for Underserved Segments (2012) HIGH PROFILE NEWS COVERAGE Finalist: Digital Finance +, Social Impact Award (2015) Insurance Company & Initiative of the Year (2015) Clients at the Centre Award Winner (2015)

THANK YOU