Bimapay
- Company typePrivate
- Founded2022
- HeadquartersNew Delhi, India
- Headcount11–50
- GTM typeB2B
- OfferingServices
Bimapay firmographics
Firmographics- Name
- Bimapay
- Legal name
- Bimapay Finsure Private Limited
- Website
- https://bimapay.in
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Where Bimapay is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Bimapay business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Insurance Premium Financing (Interest Income): BimaPay earns interest income by paying insurance premiums upfront to insurers on behalf of customers, who then repay in monthly EMIs. The company partners with RBI-regulated lenders (Hindon Mercantile Limited, Mufin Green Finance) who provide the capital. Interest rates are described as the lowest in the industry with flexible EMI options; some customers may receive zero-cost EMIs where insurers sponsor the interest.
- Surrender Value Financing: Loan facility using the surrender value of life insurance policies as collateral. Customers access funds against accumulated policy value without surrendering the policy, repaying with applicable interest over time.
- Corporate Insurance Premium Financing: B2B financing solution allowing businesses to spread large group insurance premiums (group health, group term life, liability) into manageable EMIs, preserving working capital while maintaining coverage.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Insurance Premium Financing (Retail) |
| Unit Pricing | Monthly | Corporate Insurance Premium Financing |
| Unit Pricing | Pay-as-you-go | Surrender Value Financing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Bimapay product offering
Product offeringCore offering
BimaPay is a digital lending platform that converts lump-sum insurance premiums into affordable monthly EMIs for retail customers and businesses in India. It offers three products — Insurance Premium Financing (IPF), Surrender Value Financing (SVF), and Corporate Insurance Premium Financing (CIPF) — delivered through a 100% paperless, real-time process with instant approvals and no income proof required. The platform connects policyholders, insurance intermediaries, IRDAI-approved insurers, and RBI-regulated lenders (Hindon Mercantile, Mufin Green Finance) on a B2B2C model.
Product overview
BimaPay is a unified digital lending ecosystem offering three premier financing solutions: Insurance Premium Financing (IPF), Surrender Value Financing (SVF), and Corporate Insurance Premium Financing (CIPF). The platform operates on a B2B2C model, partnering with RBI-regulated lenders and IRDAI-approved insurers to enable customers to manage insurance premiums through flexible EMIs rather than lump-sum payments. All products feature 100% digital, paperless, real-time processing with instant approvals and no income proof requirements.
Differentiator
Problem solved
Functional benefit
Products and services
- Insurance Premium Financing (IPF) Converts one-time insurance premiums for health, life, motor, and other policies into small monthly EMIs for retail customers. Offers instant real-time approval, zero paperwork, 100% digital process with no income proof required, and flexible repayment tenures.
- Surrender Value Financing (SVF) Allows policyholders to borrow against the surrender value of their existing life insurance policies without surrendering the policies, preserving coverage while accessing instant liquidity. Loan amounts typically range from 70% to 90% of the policy's surrender value, with interest rates around 8% to 12% per annum.
- Corporate Insurance Premium Financing (CIPF) Enables businesses (large corporates, SMEs, startups) to convert large group insurance premiums — group health, group term life, liability covers — into easy EMIs to preserve working capital. Offers flexible repayment tenures, GST benefits where applicable, and a 100% transparent process for HR and Finance teams.
Quantifiable outcome
- 4x surge in annual premium disbursements to ₹1,200 crore in FY26
- +6 more outcomes
Companies that use Bimapay
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Bimapay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability3 records
Feature4 records
Bimapay partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core.
- Eight General and Health Insurers + Two Life InsurerscoreBimaPay is partnered with eight general and health insurers and two life insurers, covering over 50% of the retail health market. The company is also partnered with 7 insurance companies according to its website, and drives more than 50% of premium financing volumes single-handedly. Supported by GST waiver on insurance premiums.
- LIC (Life Insurance Corporation of India)coreLIC is listed as an insurance partner on BimaPay's customer registration portal, allowing customers to select LIC policies and finance premiums through BimaPay's platform.
- HDFC Life InsurancecoreHDFC Life Insurance is listed as an insurance partner on BimaPay's customer registration portal, enabling customers to finance HDFC Life policies through EMI options.
- Max Life InsurancecoreMax Life Insurance is listed as an insurance partner on BimaPay's customer registration portal.
- ICICI Prudential Life InsurancecoreICICI Prudential Life Insurance is listed as an insurance partner on BimaPay's customer registration portal.
- Kotak Mahindra Life InsurancecoreKotak Mahindra Life Insurance is listed as an insurance partner on BimaPay's customer registration portal.
- Aditya Birla SunLife InsurancecoreAditya Birla SunLife Insurance is listed as an insurance partner on BimaPay's customer registration portal.
- TATA AIA Life InsurancecoreTATA AIA Life Insurance is listed as an insurance partner on BimaPay's customer registration portal.
- SBI Life InsurancecoreSBI Life Insurance is listed as an insurance partner on BimaPay's customer registration portal.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
Bimapay competitors and assessment
Company assessmentDirect peers
- LazyPay: LazyPay is an Indian BNPL/consumer lending platform offering short-term credit to digital consumers. Comparable to BimaPay for its digitally-native consumer credit underwriting and partnership-based capital model in the Indian fintech market.
- InsuranceDekho: InsuranceDekho is a leading Indian insurance aggregator focused on driving insurance penetration in Tier 2/3 cities. Comparable to BimaPay for sharing the same core mission — increasing India's insurance penetration — and overlapping intermediary/channel partner networks.
- MoneyTap: MoneyTap is an Indian personal credit line platform offering app-based revolving credit to consumers. Comparable to BimaPay for its digital-first credit assessment, instant approval positioning, and reliance on partner NBFCs for capital funding.
- KreditBee: KreditBee is one of India's largest consumer digital lending platforms serving salaried and self-employed individuals with personal loans. Comparable to BimaPay for similar target customer base (Indian retail borrowers without income proof) and use of NBFC lending partners to fund loans.
- EarlySalary: EarlySalary is an Indian consumer lending platform specializing in salary advances and personal loans to salaried professionals. Comparable to BimaPay for its salaried-individual target segment and digital lending model partnering with NBFCs.
- Paisabazaar: Paisabazaar (a PB Fintech subsidiary) is India's leading financial product marketplace with strong emphasis on lending distribution. Comparable to BimaPay because it sits at the intersection of insurance/credit customers and lending partners, though with a broader product focus.
- Coverfox: Coverfox is an Indian insurance aggregator offering comparison and purchase of insurance products online. Comparable to BimaPay because both serve as insurance distribution/financing enablers in the same Indian digital insurance ecosystem.
- PolicyBazaar: PolicyBazaar is India's largest insurance aggregator and a sister entity to Paisabazaar. Comparable to BimaPay because it operates in the insurance distribution funnel where BimaPay offers its premium financing — a potential integration point or competitive threat.
Emerging players
- Turtlemint: Turtlemint is an Indian insurtech platform focused on empowering insurance advisors with digital tools and embedded product offerings. Comparable to BimaPay for its insurance-ecosystem focus and intermediary-driven distribution model, though Turtlemint operates upstream in distribution rather than financing.
Broad incumbents
- Acko: Acko is one of India's leading digital-native insurance companies offering motor, health, and travel insurance direct-to-consumer. Comparable to BimaPay as a digital-first insurance ecosystem player; Acko could be a future direct competitor if it launches premium financing or partner financing rails.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Bimapay social profiles
Digital presenceBimapay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bimapay leadership team
Management profileNumber of profiles
Profiles4 records
Bimapay funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bimapay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bimapay
What does Bimapay do?
BimaPay is a digital lending platform that converts lump-sum insurance premiums into affordable monthly EMIs for retail customers and businesses in India. It offers three products — Insurance Premium Financing (IPF), Surrender Value Financing (SVF), and Corporate Insurance Premium Financing (CIPF) — delivered through a 100% paperless, real-time process with instant approvals and no income proof required. The platform connects policyholders, insurance intermediaries, IRDAI-approved insurers, and RBI-regulated lenders (Hindon Mercantile, Mufin Green Finance) on a B2B2C model.
Is Bimapay a public or private company?
Bimapay is a private company. It is classified as venture growth investor backed and is currently operating.
When was Bimapay founded?
Bimapay was founded in 2022. It employs 11 to 50 people.
Where is Bimapay based?
Bimapay is headquartered in New Delhi, India, in the Asia region.
How does Bimapay make money?
Three revenue lines are on record. Insurance Premium Financing (Interest Income) is the primary driver. The others are surrender Value Financing and corporate Insurance Premium Financing.
Who are Bimapay's main competitors?
Direct peers on record are LazyPay, InsuranceDekho, MoneyTap, KreditBee, EarlySalary, Paisabazaar, Coverfox and PolicyBazaar. Turtlemint is listed as an emerging player. Acko is listed as a broad incumbent.
Does Bimapay have an API?
No public API is recorded for Bimapay.