Bimaplan

Embedded Insurance Platformbimaplan.co

Company typePrivate
Founded2020
HeadquartersBangalore, India
Headcount11–50
GTM typeB2B
OfferingSoftware

Bimaplan firmographics

Firmographics

Name: Bimaplan
Legal name: Purple Umbrella Fintech Private Limited
Website: https://bimaplan.co
Company type: Private
Founded year: 2020
Operating status: Operating
Headcount range: 11–50 employees
Ownership category
akta.pro rank

Where Bimaplan is headquartered

Location

Headquarters

HQ city: Bangalore
HQ country: India
HQ region: Asia

Offices2 records

Markets served

Bimaplan business model

Business model

GTM type: B2B
Offering type: Software
Cost components: Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

Embedded Insurance Distribution: Bimaplan provides embedded insurance solutions to financial services and e-commerce platforms, earning revenue through insurance distribution partnerships where insurance products are sold through partner channels
API and Platform Licensing: Revenue generated through API integration services and platform access for partners to embed insurance products
Insurance Products: Revenue from sale of various insurance products including Credit Life, Health Insurance, Daily Hospital Cash, Group Medical Cover, Group Personal Accident, Personal Accident, and Trip Insurance

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Bimaplan product offering

Product offering

Core offering

Bimaplan provides an API-first embedded insurance platform that enables fintech, e-commerce, logistics, gig economy, SME, and POS partners to distribute multiple insurance products (credit life, health, personal accident, group medical, trip insurance) to end customers through a single API integration. The platform supports the full insurance lifecycle including quote generation, digital consent capture, instant policy issuance, premium reconciliation, renewals, and claims handling, with a dedicated partner-facing technology stack comprising REST APIs, Seller Portal, Manager Portal, and BimaBuddy app.

Product overview

Bimaplan is an embedded insurance technology platform that provides a full-stack solution called the Bimaplan Suite for insurance distribution. The platform architecture consists of three core product layers: (1) a Partner-facing technology stack comprising the Bimaplan API (REST API for single-integration insurance enablement), Partner Seller Portal (for agents to issue policies and manage sales), Partner Manager Portal (for white-label operations and bulk management), and Bimabuddy App (mobile app for field agents); (2) Customer-facing products including a Customer App for policy management and a Microsite for promotional purposes (both coming soon); and (3) a portfolio of insurance products including Credit Life, Health Insurance, Daily Hospital Cash, Group Medical Cover, Group Personal Accident, Personal Accident, and Trip Insurance. The platform targets fintech, e-commerce, logistics, gig economy, and SME/POS sectors in India's rural and semi-urban markets, enabling partners to offer insurance at the point of sale through API integration.

Differentiator

Problem solved

Functional benefit

Products and services

Bimaplan API A REST API suite that enables fintech, e-commerce, logistics, gig economy, SME, and POS partners to integrate insurance products with a single API integration, offering Plans, Proposal, Consent, Renewal, Callback, and Claims APIs for end-to-end insurance distribution.
Partner Seller Portal A web and mobile platform for insurance agents and sellers to issue policies instantly, manage leads, track wallet and earnings, handle renewals and cancellations, and access analytics dashboards.
Partner Manager Portal A white-label portal for partners to manage insurance operations including bulk policy issuance, claims management, premium reconciliation, agent management, and analytics and reporting.
Bimabuddy App A mobile application for partner agents to perform end-to-end digital policy sales, including instant policy issuance, lead management, wallet and earnings tracking, renewals, cancellations, referral management, and training content.
Credit Life Insurance Credit life insurance designed for loan products, providing coverage in case of borrower death or disability. Distributed via partner fintech platforms.
Health Insurance Medical expenses coverage insurance providing protection against healthcare costs. Distributed via partner platforms to end customers.
Daily Hospital Cash Daily cash benefit insurance paid during hospitalization to cover incidental expenses. Distributed via partner platforms.
Group Medical Cover Health coverage insurance for groups of individuals, typically offered through employers or associations. Distributed via partner platforms.
Group Personal Accident Protection against accidents for groups, providing coverage for death or disability resulting from accidents. Distributed via partner platforms.
Personal Accident Individual coverage for personal accidents, providing financial protection against accidental death or disability. Distributed via partner platforms.
Trip Insurance Travel insurance providing coverage for travel-related risks including trip cancellation, delays, and lost baggage. Distributed via partner travel and e-commerce platforms.
Insurance-in-a-Box Product Insurance-in-a-box product enabling financial institutions to offer embedded insurance to their customers.

Quantifiable outcome

Insurance integration completed in a couple of weeks vs. months with traditional insurers
+2 more outcomes

Companies that use Bimaplan

Customer profile

Named customers11 records

Segments6 records

Ideal customer profiles3 records

Bimaplan technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration1 record

Feature13 records

Bimaplan partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core and minor.

RazorpaycoreTechnology or IntegrationPayment gateway partner used for processing insurance premium payments. Data encrypted through PCI-DSS standards.
India InsurTech AssociationminorOthersBimaplan is a member of the India InsurTech Association, supporting the insurtech ecosystem in India.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Bimaplan competitors and assessment

Company assessment

Direct peers

Acko General Insurance: India's leading digital-native insurer offering auto, health, and life products via direct-to-consumer and embedded/B2B2C distribution. Directly comparable to Bimaplan as a tech-first insurtech in India targeting underserved segments and embedded partnerships.
Turtlemint: Indian insurtech platform enabling partner agents and digital channels to distribute life, health, and motor insurance. Directly comparable to Bimaplan's API-based, partner-enabled insurance distribution model for underpenetrated Indian markets.
InsuranceDekho: Indian insurance distribution platform focusing on tier-2/3 cities and rural India through a digital partner network. Closely mirrors Bimaplan's rural/semi-urban focus and partner-led embedded distribution strategy.
Coverfox (by Glide): Indian online insurance aggregator and distributor enabling comparison and purchase of motor, health, and life policies. Comparable as a digital insurance intermediary targeting Indian consumers.
RenewBuy: Indian insurance distribution platform with an extensive POS-partner network across tier-2/3 cities. Comparable to Bimaplan in partner-led insurance distribution targeting underpenetrated Indian markets.

Broad incumbents

Digit Insurance: One of India's largest digital-first general insurers offering motor, health, and travel products through direct and partner channels. Broader product portfolio and higher capitalization, but competes in the same digital/embedded insurance distribution space.
PolicyBazaar (PB Fintech): India's largest insurance aggregator and comparison platform, publicly listed, with significant B2B2C and embedded insurance ambitions. Comparable in distributing third-party insurance products digitally, though at much larger scale.

Emerging players

Toffee Insurance: India-focused embedded micro-insurance platform distributing bite-sized insurance products via APIs and partnerships with fintech/e-commerce players. Highly comparable to Bimaplan in product scope (micro-insurance, embedded APIs) and target geography.
Onsurity: India-based health insurance and employee benefits platform targeting SMEs and startups with group health, personal accident, and term life products. Comparable to Bimaplan in serving group/credit-life type products via B2B channels.
Plum (Plum Benefits): Indian group health insurance and employee benefits platform embedded into HR/payroll workflows. Similar B2B2C embedded insurance distribution model and fintech-style API integration approach.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Bimaplan financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Bimaplan leadership team

Management profile

Number of profiles

Profiles5 records

Bimaplan funding detail

Funding detail

Funding overview

Funding rounds4 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Bimaplan M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bimaplan

What does Bimaplan do?

Is Bimaplan a public or private company?

Bimaplan is a private company. It is classified as venture growth investor backed and is currently operating.

When was Bimaplan founded?

Bimaplan was founded in 2020. It employs 11 to 50 people.

Where is Bimaplan based?

Bimaplan is headquartered in Bangalore, India, in the Asia region.

How does Bimaplan make money?

Three revenue lines are on record. Embedded Insurance Distribution is the primary driver. The others are API and Platform Licensing and insurance Products.

Who are Bimaplan's main competitors?

Direct peers on record are Acko General Insurance, Turtlemint, InsuranceDekho, Coverfox (by Glide) and RenewBuy. Broad incumbents are Digit Insurance and PolicyBazaar (PB Fintech). Emerging players are Toffee Insurance, Onsurity and Plum (Plum Benefits).

Does Bimaplan have an API?

Yes. Bimaplan offers a REST API enabling partners to integrate insurance products into their platforms with a single API integration. The API suite includes Plans API (retrieve available insurance plan details), Proposal API (submit insurance policy proposals), Consent API (obtain customer consent for data usage), Renewal API (automate policy renewal process), Callback API (receive real-time updates on policy events), and Claims API (claims handling). Partners can integrate via omni stack API SDK and add plans by changing parameters. JavaScript/TypeScript code samples are provided. The API is designed for fintech, e-commerce, logistics, gig economy, and SME/POS platforms targeting rural and semi-urban markets in India. Developer documentation is at api-docs.bimaplan.co.